Spanish Real Estate Investment Trusts (in Spanish, Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario or “SOCIMI”) can be really interesting facing the investment by foreign funds who may be interested in the Spanish real estate market.
Therefore, SOCIMIs are a figure designed to revive the properties used for lease by an attractive tax treatment along with the possibility of trading in the Spanish Alternative Securities Market (in Spanish, Mercado Alternativo Bursátil or MAB). For this purpose, there are flexible admission requirements.
Download PDF: Listed_Corporation_for_investment.pdf
The Supreme Court, in its judgment of 19 July 2012, reiterates its liability doctrine in bankruptcy. As already noted in previous pronouncements, administrators condemnation, in whole or in part, the deficit been in bankruptcy liquidation, "is, according to the letter and spirit of that rule, a necessary consequence of the classification of competition as guilty "because" the sentence is conditional rating depends on the competition and reasonable discretion of the Judge "which must" assess, according to regulatory criteria and to substantiate the accusation necessary individual and subjective elements behavioral objectives of each of the directors in relation to the actions that have been attributed to the social organ and determined the bankruptcy as guilty. "
Increasingly, companies are forced to mortgage their brand to get funding. Facing the lack of liquidity and lack of physical assets to offer to endorse the request for a loan, the intangible value of the brand is becoming a resource to offer to the bank.
The fact of mortgaging a brand is not necessarily a bad thing, in fact the Civil Code provides that you can both sell a brand or a name and also offer it as a loan guarantee. The problem starts when you do not fulfill the contracted obligations, then the bank can sell the assetto a third part to recover its investment. The risk begins then, when the company still operates trying to get out of a situation of imbalance with the risk of losing their own identity and the subsequent inability to maintain its activity if it loses its differentiator assets from competitors.
Brands such as Victorio and Lucchino, Trappe, Dhul, Marsans, Magefesa or Moss, among others, have been at some point in its history as the slab weighed about their names yet.
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The order of the Commercial Court of Alicante number 2, dated February 26th 2013, has suspended the judicial proceedings that Samsung and Apple are facing until the Office of Harmonization for the Internal Market (OAMI) will resolve the dispute between the two firms due to the commercialization of certain tablets.
Although the procedure on the validity of the designs of the Galaxy Tab 10.1, 8.9 and 7.7 was started by Samsung with the aim of obtaining legal support to the controversial sale of such products, the company Apple gave it back by answering the demand and presenting a counterclaim because of design and unfair competition.
This is only one more episode of a whole series of disputes between the two technology companies of their many legal battles worldwide.
Catalunya Banc, despite being operated by the FROB, must pay their employees the bonus for the year 2011. This is required by a judgment of the Social Court of the National Court, according to which the company cannot unilaterally abolish the payment of the bonus for recognized objectives to the employees.
The company claimed that the measure was due to the bad outcomes from the entity that incurred in losses of 1,362 million euros in 2011. This is an excuse that the National Court rejected pointing that the results never had effective influence on the perception of variable compensation of the defendant.
Throughout the year 2012 10.290 bankruptcy proceedings were requested in the Commercial Courts of Spain, which means an increase of 28.2% compared with those reported in the previous year, according to data compiled by the Statistical Service of the General Council of the Spanish Judiciary. The 20.8% of the bankruptcy proceedings occurred in Catalonia, which was followed by Valencia with 14.7%, the Community of Madrid, with 13.8% and 13.4% in Andalucía.
The number of 7541 bankruptcy proceedings were declared, to which must be added the 752 declared and concluded under the Article 176 bis 4 of the Bankruptcy Act. During the year a total of 1,690 reached the agreement stage, while 5530 began the liquidation. In addition, there were 1809 cases of Article 64 of the Bankruptcy Act (ERE).
The data show that the increase in the last five years (2008 to 2012) compared to the previous (2003 to 2007) was of 429.5%, which translates to average annual increases of 85.9%.
For its part, the comparison of mortgages foreclosures the five years of the crisis (2008-2012) and the five previous (2003-2007) showed an increase of 368.7%, representing an average annual increase of 73.7%. For executions resolved the increase was 199.5%, with an annual average of 39.9%. And for those that were pending at the end of the period the increase in the five years was 482.9%, 96.6% annually.