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The paper analyses the modifications in the Spanish legal regime for fresh start for natural debtors resulting from the implementation of the European Directive on preventive restructuring frameworks. [ABSTRACT FROM AUTHOR]

The article presents a preliminary analysis of the rules on fresh start and debt relief for individual debtors to be found in the recent Spanish Real Decreto-ley 1/2015, de 27 de febrero (RDL 1/2015). The new rules are presented in the context of the traditional preeminence of the rule of unlimited liability of individual debtors under Spanish Law, as well as the limited steps undertaken in Spanish Law to limit such primacy, specially since 2013. The main economic benefits and disadvantages of debt relief for individual debtors are reviewed, and the main solutions introduced by the new Spanish legislation are covered, both those essentially inspired by the Entrepreneurship Act of 201 and those newly designed by RDL 1/2015. Finally, the paper attempts at a first evaluation of the main choices made by Spanish Law in this area. [ABSTRACT FROM AUTHOR]

Recent changes in Spanish Insolvency Law introduced by the Law 17/2014 of 30 September and the Royal Decree-Law 11/2014 of 5 September have substantially modified the legal framework concerning a creditor with a secured loan a guarantor insolvent debtor. This paper sets out an initial approach to the situation resulting from the policy change only with respect to the exercise of the rights of the secured creditor in the insolvency proceedings and the vulnerable situation of the credit. [ABSTRACT FROM AUTHOR]

The latest reform of the Spanish Insolvency Act develops the regulations on pre-bankruptcy situations with the goal of developing extrajudicial alternatives to insolvency proceedings. Nevertheless, the reform fails to include one proposal that we consider essential for better achieving that objective: the temporary suspension of individual executions in the pre-bankruptcy stage, which starts with the communication of article 5bis of the Spanish Insolvency Act. This paper analyses the consequences of that omission and explains the justification for its inclusion in any future amendment of the Spanish Insolvency Act. [ABSTRACT FROM AUTHOR]