Jordi Ibiza analyses the new framework for electronic auctions after COVID-19

Jordi Ibiza, senior lawyer in the area of Litigation and Bankruptcy Law at BROSETA, has participated in a webinar organised by the Foundation for Stock Market and Financial Studies dedicated to the new framework for electronic auctions after the COVID-19 crisis. Six months after the entry into force of Royal Decree 16/2020, of 28 April, on procedural and organisational measures to deal with the COVID 19, the meeting examined the challenges posed by the regulation, which is designed to alleviate the effects of the situation that has arisen in the Administration of Justice following the declaration of the State of Emergency.

The session, moderated by Salvador Silvestre, President of the Legaltech Committee of the Valencia Bar Association, was attended by specialists in the field, such as Mayte Rodríguez, Director of the Legal Department of Electronic Auctions of the General Council of Court Agents; and María Palmero, Legal Counsel for the Administration of Justice, of Madrid’s Commercial Court No. 6.

During the session, Jordi Ibiza analysed the new features introduced by RD 16/2020 in the field of insolvency proceedings, focusing his presentation on the situation of the legal proceedings and the effects of article 15 of the aforementioned regulation, which determines that the insolvency proceedings declared within the year following the declaration of the state of emergency and those in progress at that date must be settled using the out-of-court auction system, regardless of what has been established in the settlement plan. Similarly, Ibiza provided information on the disposal of productive units and their execution through an extra-judicial auction.

The webinar highlighted the importance of the Associations of Court Agents, which, through the technological platform, have become the key element in speeding up the liquidation phase of all the bankruptcy proceedings in Spain, as well as in carrying out extrajudicial auctions of seized or mortgaged assets.