DISTRESS TRANSACTIONS IN SPAIN

Garrigues is an international tax and legal services firm thatprovides business law advice on the main economic scenarios of theglobal marketplace. Since its creation in 1941, the firm has beennoted for its international outlook and innovative nature. This guidehas been produced by Garrigues' Investment Funds and Distressed M&Ateam, a cross-functional group within the firm, led by partners fromthe Corporate, M&A and Restructuring departments, which comprises theM&A, Real Estate, Banking and Finance, Capital Markets, Restructuring& Insolvency and Private Equity teams. The team is regularly involvedin a variety of transactions, related to NPLs and REOs portfolios,real estate businesses, single assets or servicers, direct lendingtransactions, purchases and sales of businesses of insolventcompanies, secondary deals, securitizations, trades and debt recoveryanalysis of large companies. Garrigues' Investment Funds andDistressed M&A team stands out among its competitors on the basis ofthe strong background of its members and the teamwork between all ofthem, which places Garrigues in a second-to-none position to globallyadvise our clients from the early stages of any distressed transaction until successful completion and, when advising the buy-side, untileffective work-out of the debtor positions acquired. Clients fromGarrigues' Investment Funds and Distressed M&A team recognize thevalue that the law firm adds to their businesses, understanding theeconomic, financial and legal needs, offering tailored solutions,managing complex processes and situations and achieving the higheststandards of performance regardless the transaction's type or size.The aim of this guide is to satisfy the curiosity of anyone interested in distress transactions in Spain and to share some of theexperiences and lessons Garrigues learned in this field over theyears.