Abstract: The text provides a general and comprehensive description of the new Spanish legal framework for preventive restructuring proceedings

Keywords: insolvency proceedings in Spanish law, implementation of the EU Directive, Spanish Restated Insolvency Act, judicial supervision, characteristics, moratorium, likelihood of insolvency, imminent insolvency, restructuring plans, affected claims, universality, executory contracts, formation of classes, approval, majority, dissenting creditors, cross-class cramdown, absolute priority rule, value of the company, homologation, appeal, contradictory hearing, new financing, small companies, discharge of debts, pre-pack, micro-enterprises, early-warning, international jurisdiction.