Circular

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Did you acquire “Banco Popular” shares and still have them in your share portfolio? Let us show you how to recover your investment

Maybe you are –or perhaps the company you represent– one of those many shareholders of the Banco Popular Español, S.A. (hereinafter, “Banco Popular”) that decided to buy shares of this financial entity based on the solvency data it offered. Then you woke up on June 7th, 2017 and suddenly realise Banco Popular shares were worth…
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Incremento del salario mínimo interprofesional en el año 2020

Increase in the Minimum Interprofessional Salary in the year 2020

The Minimum Interprofessional Wage (“SMI”) is the minimum economic remuneration that is officially fixed by the State, and which any employer is obliged to pay to its employees. In this regard, on February 5, 2020, Royal Decree 231/2020 of February 4, which establishes the SMI for 2020 (“RD 231/2020”), entered into force, with retroactive effect…
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despido-objetivo-faltas-asistencia

Objective dismissal for faults of assistance still justified

Article 52.d) of Royal Legislative Decree 2/2015, of October 23, which approves the Consolidated Text of the Workers’ Statute Law (“ET”) enables the employer to terminate the employment relationship by absenteeism in case of reaching certain thresholds for absences even if they are justified. Such thresholds are to reach (or, of course, exceed): (i) 20%…
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To Keep in mind for the upcoming General Shareholders’ Meetings

The general shareholders’ meetings of those companies where the financial year is the calendar year shall begin to be called soon. Thus, for those companies that closed their financial year last December 31, – the vast majority of the Spanish companies -, the time limit provided to in the Royal Legislative Decree 1/2010, July 2,…
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Keep your business information safe: The new act on business secrets will help you

The efforts undertaken internationally to ensure that the competitiveness of companies and research organizations that are based on know-how and undisclosed business information (business secrets) are adequately protected have a long standing. At first, these efforts were reflected in the Agreement on Trade-Related Aspects of Intellectual Property Rights (Annex 1C of the Convention Establishing the…
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The Royal Decree Act 21/2018 on lease contracts: A short duration

The Act 29/1994, of November, 24th, on Urban Leases (LAU), has been modified often since it entered into force. No need to go far to find examples, LAU was last modified in 2013 – we then issued our Newsletter 5/2013, which remains available in our website. The amendments to the LAU herein outlined were introduced…
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The IIVTNU: the TS precise the reach of the STC 59/2017, of May 11

As we discussed in our Circular 01/2018, the Constitutional Court (TC) in its Judgment of No. 59/2017, of May 11, 2017 (STC 59/2017), came to establish the partial nullity of certain articles of the Tax on the Increase in the Value of Urban Land (IIVTNU) because, in application of the same, it could be possible…
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Once again with the swaps and other complex financial products: there is still time to claim

When we thought that companies who has been affected by financial products were losing their chances to claim against the financial institutions, basically, because of temporary issues, the Supreme Court (hereinafter, also as “SC”) have shed light on that issue again by allowing more time to them in order to sue the Banks which commercialized…
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New European regulations on data protection DO NOT PANIC!

As at this point almost everyone should already know, since the media bombardment of specialised consultancy firms has been intense for the last months, as of 25 May next applies in Spain, and in other Member States of the European Union, Regulation (EU) 2016/679, of 27 April 2016, on the protection of natural persons with…
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The remuneration of the executive directors: The Supreme Court dispels the companies registrars misconception

On February 26th, 2018, the Supreme Court (hereinafter, also as “SC”), in its sentence no. 98, gave an abrupt change of direction to the interpretation that Regional Courts and the General Directorate of Registers and Notaries have been maintaining regarding the provisions which regulates unlisted companies’ CEOs and executive directors remuneration after 2014 reform of…
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