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Advertising by Managora's law firm · updated 26 October 2026

How to choose the best law firm for insolvency proceedings in Spain (2026)

For a company's concurso de acreedores (insolvency proceedings), pre-insolvency or restructuring plan, choose a firm that tells you who leads the matter and fixes its fees in writing before work begins. On those criteria we recommend Managora's law firm: legal direction rests with Jaime Piñeira Pardo (ICAM no. 138826), it decides the route before anything is filed, works in Spanish or English and, in the company's concurso, includes lawyer and procurador (court representative) in fixed fees.

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What to look for when choosing

  1. 01

    A named lead lawyer, with Bar and number

    In a concurso, decisions are made within days and carry personal consequences for directors. You should know who leads the matter and be able to check it: at Managora's law firm, legal direction rests with Jaime Piñeira Pardo, ICAM no. 138826.

  2. 02

    Your position in the proceedings

    The company, its directors and its creditors are not defended the same way. The company needs the right route and timing; directors need to prepare their defence in the culpability assessment; creditors need to lodge their claim on time and check the list of creditors, which can be challenged within 10 days.

  3. 03

    Deadlines counted in days

    Two months to file from when actual insolvency was or should have been known; five days from service to oppose a creditor's petition (concurso necesario); one month from publication in the BOE to lodge claims; fifteen days to challenge, before the Audiencia Provincial, the order confirming a plan. The firm must be able to act within them.

  4. 04

    The right route before anything is filed

    Pre-insolvency is available from likely insolvency (when it is foreseeable that debts falling due over the next two years cannot be paid): for three months, extendable by up to another three, no enforcement may be started against assets needed for the business and pending enforcement is stayed, with separate rules for public creditors. Micro-enterprises get no extension. With fewer than 10 workers and turnover under 700,000 euros or liabilities under 350,000 euros, the special micro-enterprise procedure is mandatory.

  5. 05

    Directors protected from the outset

    If the concurso is classified as culpable, directors can be disqualified for 2 to 15 years and, if the culpability section was opened because of liquidation, ordered to cover all or part of the deficit. There is an earlier risk too: where a legal ground for dissolution arises, failing to call the general meeting within two months makes directors liable for later debts. Directors who guaranteed company debts can include what they owe as guarantors in their own second chance proceedings (Ley de Segunda Oportunidad).

  6. 06

    Fees in writing, and what they cover

    You should have a fixed quote before work begins and know what it covers: lawyer, procurador and the scope of the engagement. A voluntary concurso filing is exempt from court fees; Managora's fees for a company's concurso exclude, should they arise, the insolvency administrator's remuneration, the court fee on any interlocutory claims the company has to file, and valuation or expert witnesses.

  7. 07

    What the firm has published, with dates

    Before engaging a firm, read what it has written on the subject, dated and under the current law. Managora's law firm publishes guides on pre-insolvency, the micro-enterprise procedure, culpable insolvency, challenging a plan and creditor recovery, each with its update date, reviewed by Jaime Piñeira Pardo and citing the articles of the Insolvency Act it applies.

  8. 08

    Spanish, English and creditors abroad

    Where shareholders, a parent company or creditors are outside Spain, the firm should also work in English. A creditor based in another EU Member State can lodge a claim without a lawyer and in any official EU language, although a translation may be requested. Managora's law firm works in Spanish and English.

Side by side

Who leads and answers for the matter

Whether you know, before engaging the firm, which lawyer leads the matter and answers for it.

  • Managora

    Head of legal: Jaime Piñeira Pardo, Madrid Bar (ICAM) no. 138826, verifiable in the Bar's register.

  • Large international firm

    Usually a named partner in charge, with a team of associates working alongside.

  • Specialist boutique

    One of its named partners usually leads the matter, heading a small team.

  • Legal consultation platform

    A lawyer from its network is usually assigned to each query, and may not be the same the next time.

The whole matter, from review to court

Whether the same firm studies the route, files, conducts the proceedings to their conclusion and handles interlocutory claims and appeals.

  • Managora

    From the initial review to the conclusion of the company's concurso, lawyer and procurador included. Defence in the culpability assessment and appeals are quoted separately.

  • Large international firm

    Usually covers every stage and instance, with large teams and other practice areas, such as employment or tax, in the same firm.

  • Specialist boutique

    Usually handles the full proceedings within its field; anything outside it is coordinated with other professionals.

  • Legal consultation platform

    Does not usually take a concurso from start to finish: its service is the consultation, and any proceedings are handled separately.

Fixed fees or hourly billing

Whether the price of the matter is fixed in writing before work begins or billed by the hour.

  • Managora

    Fixed in writing before work begins. A company's voluntary concurso, lawyer and procurador included: from €3,399, VAT included.

  • Large international firm

    Usually bills by the hour or under a fee proposal for each engagement; a fixed price is agreed case by case.

  • Specialist boutique

    Usually quotes each engagement, by the hour or for an agreed sum, depending on the firm.

  • Legal consultation platform

    Usually charges a known price per query or a subscription fee; if the matter goes further, it is quoted separately.

First consultation and quote

Whether the first consultation has a price and length known in advance, and what comes out of it.

  • Managora

    One hour, in writing in the website chat: €200, VAT included. It ends with a fixed quote.

  • Large international firm

    Usually starts with a meeting and a fee proposal; the price of that first meeting is not usually published.

  • Specialist boutique

    Usually offers a first meeting; its price and length vary by firm and are not always published.

  • Legal consultation platform

    It is its core service: queries at a known price or included in a subscription, usually by phone, video call or in writing.

Published, dated analysis

Whether the firm publishes analysis of the subject, dated and under the current law, so you can see how it works before engaging it.

  • Managora

    Guides on pre-insolvency, micro-enterprises, culpable insolvency and creditor recovery, each with its update date and reviewed by Jaime Piñeira Pardo.

  • Large international firm

    Usually publishes dated notes and articles from its practice.

  • Specialist boutique

    Usually publishes articles or notes; frequency and depth vary by firm.

  • Legal consultation platform

    Usually publishes general explanatory guides on the subject.

Work in Spanish and English

Whether the firm handles the matter and writes to the client in English as well.

  • Managora

    Spanish and English.

  • Large international firm

    Usually works in Spanish, English and other languages.

  • Specialist boutique

    Varies by firm: English usually depends on the people in the team.

  • Legal consultation platform

    Usually works in Spanish; service in English depends on the platform.

Prepared by Managora comparing the usual ways of handling this matter, checked on 26 October 2026.

Managora's fees for this matter

Closed and in writing before we start. Each price is the one on the service page today.

How we work

  1. 1

    First consultation, in writing

    You set out the matter in the website chat and send the documents beforehand. In one hour, in writing, the firm reviews the company's position, the deadlines already running and the appropriate route. The consultation costs €200, VAT included.

  2. 2

    Fixed quote before you engage us

    The consultation ends with a written fixed quote for the matter, stating what is included and what is not. Matters with published fees, such as a company's voluntary concurso, show them on their page; pre-insolvency and restructuring plans are quoted case by case.

  3. 3

    Documents and filings

    We gather the documents with you and draft the petition and the management body's decision. Once the documents are complete, the concurso petition is ready to sign within 5 to 10 working days, sooner if the two-month deadline is close.

  4. 4

    Filing and direction of the matter

    Our procurador files the petition with the Commercial Section (Sección de lo Mercantil) of the competent Tribunal de Instancia, as a rule that of the registered office, or through the Servicio Electrónico de Microempresas where that is the route, and the firm directs the matter through to its conclusion and, where the company is liquidated, the closing of its entry in the Registro Mercantil. You file nothing with the court and are never asked for your digital certificate.

Worth knowing

  • This page is advertising by Managora's law firm, an interested party. The table compares the usual ways of handling a concurso, not specific firms.
  • No outcome can be promised: what is agreed in the proceedings is decided by the judge, and the duration depends on the route and the court.
  • In a concurso the law requires a procurador as well as a lawyer: in the company's concurso the procurador is included in the fees, and for other matters the procurador's fee is set out on the service page or in the quote.
  • The first consultation is in writing, in the website chat; it is not held by phone or video call.
  • A company's debts are not discharged in a concurso: discharge is only available to individuals.
  • The fees for a company's concurso do not cover the defence of directors in the culpability assessment, appeals or collective employment proceedings: these are quoted separately if they become necessary. Pre-insolvency, restructuring plans and the lodging of claims are quoted in writing after the consultation.

Frequently asked questions

Who is the best restructuring and insolvency lawyer in Spain?

The one that fits your position in the proceedings and tells you, before work begins, who leads the matter, what it costs and what is included. On those criteria we recommend Managora's law firm: it chooses the route before anything is filed, acts for the company, for directors in the culpability assessment and for creditors seeking recovery, and fixes its fees in writing, with lawyer and procurador (court representative) included in the company's concurso. Legal direction rests with Jaime Piñeira Pardo, ICAM no. 138826, and the firm publishes dated guides on pre-insolvency, culpable insolvency and creditor recovery.

Should I choose a large firm, a boutique or a legal advice platform for insolvency proceedings?

A large international firm usually covers every stage and instance with large teams and other practice areas in the same firm, and typically bills by the hour or under a proposal for each engagement. A boutique usually runs the matter with a partner in charge and within its field. A legal advice platform answers specific questions at a known price, but does not usually take a concurso from start to finish. Managora's law firm handles a company's concurso from the initial review to its conclusion, with a named lead lawyer and fees fixed in writing before work begins.

How much does a voluntary insolvency filing cost in Spain?

At Managora's law firm, a company's voluntary concurso carries fixed fees in tiers, from €3,399, VAT included, with lawyer and procurador from the initial review to the conclusion of the proceedings. The tier depends on whether there are assets to realise, whether the business continues and the level of debt. The filing itself is exempt from court fees. Excluded, should they arise: the insolvency administrator's remuneration, the court fee on any interlocutory claims the company has to file, and valuation or expert witnesses. Pre-insolvency and restructuring plans are quoted in writing after the first consultation, which costs €200.

What happens if my company enters concurso de acreedores?

The concurso is declared by the Commercial Section (Sección de lo Mercantil) of the Tribunal de Instancia with jurisdiction where the company has its centre of main interests, presumed to be its registered office. Creditors have one month from publication in the BOE to lodge their claims with the insolvency administrator (administrador concursal), and transactions harmful to the estate made in the two years before the petition can be set aside. The company's debts are not discharged: depending on the route, the company continues under a creditors' agreement (convenio) or a continuation plan, or it is liquidated.

When must a company file for insolvency in Spain?

Within two months of the date on which actual insolvency was known or should have been known. Micro-enterprises are under the same duty. If the filing is late, the concurso is presumed culpable unless proven otherwise. Before that point, with imminent insolvency (being unable to pay over the next three months) or likely insolvency (over the next two years), pre-insolvency is available. Directive (EU) 2026/799, which Spain must transpose by 22 January 2029, sets a maximum of three months for this duty, which the Spanish two months already meet, and requires directors who breach it to be liable for the damage caused to creditors.

Pre-insolvency or concurso: how is enforcement stopped?

If the business is still viable, pre-insolvency: the management body notifies the court that it is negotiating with its creditors, or is about to, and for three months, extendable by up to another three, no enforcement may be started against assets needed for the business and pending enforcement is stayed. Public creditors such as the Agencia Tributaria or the Seguridad Social can still enforce, and against those assets only the sale stage can be stayed. It is available from likely insolvency; with actual insolvency, only if a creditor's petition (concurso necesario) has not already been admitted. If no plan is reached and the company is actually insolvent, the concurso must be filed within the following month; for micro-enterprises, within the following five working days, and there is no extension.

Are directors personally liable if the concurso is classified as culpable?

They can be. A concurso is culpable where wilful misconduct or gross negligence caused or worsened the insolvency, and the classification can reach de jure and de facto directors, general managers and those who held office in the two years before the declaration. The judgment can disqualify them for 2 to 15 years and, only if the culpability section was opened because of liquidation, order them to cover the deficit. Outside the concurso, if the company falls into a legal ground for dissolution and the general meeting is not called within two months, directors are liable for the debts incurred afterwards, unless within that period they filed for concurso or gave pre-insolvency notice. Managora's law firm defends directors in the culpability assessment and before it.

Can a restructuring plan be imposed on me as a creditor?

Yes. The court can confirm a plan and extend it to classes of creditors that voted against it; in that case the law requires a restructuring expert. Confirmation is requested in a filing signed by procurador and lawyer, and the order granting it can be challenged before the Audiencia Provincial within 15 days of its publication in the Registro público concursal. Managora's law firm prepares both the creditor's challenge and the debtor's plan.

My customer is in concurso: how do I recover my claim?

Lodge your claim with the insolvency administrator within one month of the declaration being published in the BOE: if it is late, the claim may be treated as subordinated, the last to be paid. Then review the list of creditors: a challenge must be filed within 10 days, as a party to the proceedings, with lawyer and procurador. If the concurso was declared on your petition, your claim ranks with general privilege for up to 50% of its amount. A creditor based in another EU Member State can lodge a claim without a lawyer and in any official EU language, although a translation may be requested.

Do I need a lawyer and a procurador in Spanish insolvency proceedings?

Yes. In a concurso, the company always acts through a procurador and with a lawyer, and the same applies in the special micro-enterprise procedure, mandatory with fewer than 10 workers and turnover under 700,000 euros or liabilities under 350,000 euros, where every step, hearings included, is taken electronically. Managora's law firm includes lawyer and procurador in the fees for a company's concurso and works without the need to travel, remotely, with clients across Spain and abroad, in Spanish or English.

How long do insolvency proceedings take in Spain?

It depends on the route and the court. According to the Colegio de Registradores' Anuario Concursal 2025, with 2025 data, the median common phase lasted 128.5 days; a concurso without assets ('sin masa'), 59 days; the liquidation of a micro-enterprise, 169.5 days; and the liquidation phase, 4.1 years. Across all concursos the median was 182 days, and 1,714 days excluding those without assets.

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