Trampolin Hills Insolvency

If you are one of the creditors of the company Trampolin Hills (because you gave money to buy a house or any other reason) and you want to recover your money, then you have to report the amount and the circumstances of your credit as soon as possible to the Commercial Court number two of Murcia.

Deadline is next December, 3rd 2009!

If you don´t report your credit on time, you won´t probably have any other chance to charge it, since it will be the last one to be paid (art. 85 Ley Concursal).

Please, contact Abad Abogados as soon as possible filling the linked form, and we´ll defend your interests reporting your credit to the Court and monitoring the insolvency process until you´ll recover your money.

Abad Abogados has created a group of foreign people affected by the insolvency of Trampolin Hills with the conviction that it will make eassier the deffence of their interests and also having a better price. We are convinced that there is strength in numbers.

Abad Abogados Contact details:

Address: Avda. de la Libertad, 7, Edif. Cónsul, 3ºB – 30009 (Murcia)

Telephone: +34 968 90 22 90 Fax: +34 968 90 11 90

E-mail: trampolin@abadabogados.com

Posted 02/11/2009
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When the new Insolvency Law came into force on September 1 2004, the framework for resolving business crises in Spain changed significantly. The new law provides for the application of a single procedure in the event of insolvency, although the eventual outcome could be recovery or winding-up. The insolvency procedure in Spain is called “Concurso de Acreedores”.

Along this blog we are going to use the specific terms in Spanish due to the ones in english can make users fall into mistake with the UK insolvency procedures.

The principal focus of spanish insolvency legislation rests on the remodeling of the financial and organizational structure of debtors experiencing financial distress to permit the rehabilitation and continuation of their business.

That´s why inside the “Concurso de Acreedores” we can tell the difference between three stages.

First stage: “Fase común”

During the “Fase común” (Common stage) the Judge must appoint one or three Insolvency Practitioners (IPs), depending on the size of the company. These IPs have the assignment to keep the assets diligently, and make a report with three main purposes:

- To make a list with all the assets of the company and its value.

- To make a list with all the creditors of the company.

- To analyze the situation of the company in order to say if it can carry on running its business or if the company should go to liquidation.

This is a very important stage, specially for creditors, because they have the obligation to inform IPs of their credits. Otherwise they can lose their right to charge the debt during the “Concurso de Acreedores”. That´s why it is very suitable to contract a lawyer to defend your interests.

Second Stage: “Fase de Convenio”

The “Fase de Convenio” (Agreement stage) takes place when the insolvent company and its creditors try to deal in order to agree how much and when the company is going to pay its debts.

to repay them from future profits

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