The position of the AEAT in bankruptcy processes
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Position of the AEAT regarding the Agreement Proposals and attendance at the corresponding Meetings.
Since the entry into force of Law 22/2003, of July 9, Bankruptcy, and with the new structure that it introduced in the classification and qualification of bankruptcy credits, the Tax Agency has effectively been the holder of a significant number of bankruptcy proceedings. , of credits that by law are subject to the payment conditions agreed upon through the Creditors' Meetings. Therefore, the AEAT, like the rest of the agents that participate in the Creditors' Meetings, acts in defense of their interests under the same conditions as the rest, although largely conditioned by representing a type of credit - public credit. , an essential instrument for the satisfaction of the general interest.
Precisely because it represents these credits, the Tax Agency must be especially demanding when evaluating the payment conditions contemplated in the agreement proposals that are submitted for acceptance by creditors. Thus, it is decisive for the decision to support a certain proposal that it contains payment conditions that undoubtedly benefit the public credit that will be affected by the agreement.
To achieve this objective, in the various agreement proposals, different factors are taken into account , among which it is worth highlighting the existence or not of haircuts, the duration of possible waits and the proportion of credit of the Tax Agency that will be affected by the possible agreement proposal that is approved, with respect to the total of the Agency's credits in the contest.
In short, the AEAT tries to enhance its participation in the Creditors' Meetings and the corresponding Agreements, although to do so it is necessary that the proposals proposed are acceptable within the indicated parameters .