The position of the AEAT in insolvency proceedings

AEAT's position on the proposals for agreements, continuation plans and restructuring

Since the entry into force of Law 22/2003, of July 9, Bankruptcy (hereinafter LC), and with the new structure that it introduced in the classification and qualification of bankruptcy credits, essentially maintained with the consolidated text of the Bankruptcy Law, approved by Royal Legislative Decree 1/2020, of May 5 (hereinafter TRLC), the Tax Agency has effectively been the owner, in a significant number of insolvency proceedings, of credits that, by imperative of the Law, are subject to the payment conditions agreed through the agreements, continuation and restructuring plans. Therefore, the AEAT, like the rest of the agents that participate in the insolvency proceedings, acts in defense of its interests under the same conditions as the rest, although largely conditioned by the fact that it represents a type of credit - public credit -, an essential instrument for the satisfaction of the general interest.

Precisely because these credits are represented, the Tax Agency must be especially demanding when evaluating the payment conditions contemplated in the proposals for agreements, and the continuation and restructuring plans that are subject to acceptance by the creditors. Thus, it is crucial for the decision to support a particular proposal that it contains payment conditions that will undoubtedly result in the benefit of public credit that will be affected by the corresponding agreement or plan.

In order to achieve this objective, in the face of the various proposals for agreements, continuation plans and restructuring, different factors are taken into account , among which the most notable are the existence or not of reductions, the duration of possible waiting periods and the proportion of the Tax Agency's credit that will be affected by the possible proposal for an agreement or continuation or restructuring plan that is approved, with respect to the total of the Agency's credits in the procedure.

In short, the AEAT tries to promote its participation in the corresponding insolvency procedures, although to do so it is necessary that the proposals put forward are acceptable within the parameters indicated .