El concurso de Banco de Madrid

Abstract

This article exposes in a succinct way, how does it respond, for the first time, our legal system with the current Insolvency Law before the declaration of bankruptcy in liquidation of a banking entity «Banco de Madrid». A sector as specific as the financial sector, with such a special regulation, with supervisory bodies and controllers with their own regulations and internal procedural mechanisms, has collided frontally with the Insolvency Act. As a result of this, additional provisions have been introduced in our bankruptcy regulations. Hard field work for the bankruptcy administration because: the specificity of the matter, the tools and mechanisms used by the bank, the type and diversity of financial assets, the huge number of affected people. Special mention must be made to the criteria that the insolvency administration itself should have adopted for the credits classification and the configuration of the bankruptcy state.