{"id":6571,"date":"2026-09-24T16:08:48","date_gmt":"2026-09-24T16:08:48","guid":{"rendered":"https:\/\/www.todanelo.com\/?post_type=article&p=6571"},"modified":"2026-09-24T16:29:49","modified_gmt":"2026-09-24T16:29:49","slug":"manuela-serrano-four-years-of-insolvency-reform-and-the-challenge-of-the-second-insolvency-directive","status":"publish","type":"article","link":"https:\/\/www.todanelo.com\/en\/articulos\/manuela-serrano-four-years-of-insolvency-reform-and-the-challenge-of-the-second-insolvency-directive\/","title":{"rendered":"Manuela Serrano: four years of insolvency reform and the challenge of the Second Insolvency Directive"},"content":{"rendered":"\n

In an interview published in the Iuris&lex section of elEconomista<\/em>, Serrano<\/a> highlights restructuring plans as one of the most significant advances of the 2022 reform, while warning that many companies still turn to pre-insolvency mechanisms too late. She also points out that excessively lengthy liquidations destroy value and argues that access to the role of insolvency administrator should require a specific degree in law or economics, in addition to passing an aptitude test.<\/p>\n

In her opinion piece in Cinco D\u00edas<\/em>, the head of the Restructuring and Insolvency practice<\/a> identifies the shortcomings that practice has revealed, such as the chaining of restructuring plans without proven viability, limited professional oversight in no-asset insolvency proceedings and the deficiencies of the special procedure for micro-enterprises. She also calls for the approval of the Statute of Insolvency Administrators and for progress towards a single, unified insolvency practitioner role.<\/p>\n

Both pieces agree that the experience gained since 2022 should guide the transposition of the Second Insolvency Directive, due by 22 January 2029, with a technical and realistic approach that corrects shortcomings and strengthens legal certainty.<\/p>\n

Interview | El Economista | Buen Gobierno, Iuris & lex y RSC – \u201cLa experiencia de la reforma debe servir para abordar la transposici\u00f3n de la Segunda Directiva de Insolvencia\u201d<\/span>\u00a0 (p\u00e1gs. 52-54)<\/a><\/p>\n

Tribune | Cinco D\u00edas – Cuatro a\u00f1os de Ley Concursal y una reforma que a\u00fan busca completar su promesa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Manuela Serrano, partner and head of the Restructuring and Insolvency practice at Toda & Nel-lo and president of ASPAC, the Spanish association of insolvency practitioners, has reviewed the Spanish Insolvency Act reform on its fourth anniversary in elEconomista and Cinco D\u00edas, as well as the challenges posed by the transposition of Directive (EU) 2026\/799<\/p>\n","protected":false},"featured_media":6565,"template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-6571","article","type-article","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nManuela Serrano: four years of insolvency reform and the challenge of the Second Insolvency Directive - Toda & Nel-lo Abogados<\/title>\n<meta name=\"description\" content=\"Manuela Serrano, partner and head of the Restructuring and Insolvency practice at Toda & Nel-lo and president of ASPAC, the Spanish association of insolvency practitioners, has reviewed the Spanish Insolvency Act reform on its fourth anniversary in elEconomista and Cinco D\u00edas, as well as the challenges posed by the transposition of Directive (EU) 2026\/799\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.todanelo.com\/en\/articulos\/manuela-serrano-four-years-of-insolvency-reform-and-the-challenge-of-the-second-insolvency-directive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manuela Serrano: four years of insolvency reform and the challenge of the Second Insolvency Directive - 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