The obligation to prepare annual accounts: much more than an accounting formality Article 253 of the Spanish Companies Act (LSC) governs the obligation of directors
Executive Summary The Provincial Court of Barcelona has issued a landmark judgment clarifying the exercise of a shareholder’s right of separation due to failure to
Executive Summary The European Union has completed its most ambitious reform to the prevention of money laundering with the approval of a new legislative package,
Executive summary In January 2025, the Organic Law 1/2025 was introduced, which amended article 365.3 of Spain’s Companies Act (LSC). The reform grants company directors
Spain’s National Securities Market Commission (CNMV) has announced the creation of an Expert Committee to revise the Good Governance Code for listed companies (CBG). The
The Supreme Court (TS) confirms that the prohibition on voting rights under Article 190.1 c) of the Spanish Companies Act (LSC) only applies to rights
A statutory clause authorizing the company to take out civil liability insurance (D&O) for its directors is not sufficient to clearly and bindingly integrate the
It is possible to file a company’s annual accounts with the Commercial Registry even if the auditor’s report contains an unfavorable opinion, provided that such
An ETVE (Entidad de Tenencia de Valores Extranjeros, or Foreign Securities Holding Company) is a company incorporated in Spain that benefits from a special tax
The individual representative of a legal entity acting as a director assumes an organic position with full joint and several liability. This appointment carries significant