Business crisis: flat-rate contribution with an undetermined value bracket
For all appeals against approvals
Proceedings governed by Article 51 of the Corporate Crisis Code (appeals against the approval of a composition with creditors, a restructuring plan subject to approval, restructuring agreements and the commencement of compulsory liquidation), the standard court fee determined on the basis of the claim’s indeterminable value must be applied, with the surcharge provided for in appeals. This is clarified in the circular of 23 September issued by the Department of Justice in Via Arenula.
The nature of judgement
The proceedings provided for in Article 51 are characterised as ‘an appeal procedure before a higher court, which, like proceedings at first instance, is a full-fledged trial and is intended to conclude with decisions having the force of res judicata, but is governed by special rules specific to insolvency proceedings’.
Effective date
Finally, the circular specifies that the new guidance will apply only to cases newly registered after the circular was issued, ‘not least to safeguard the taxpayer’s reliance on the successful outcome of the payment already made’.
