Spain - Attachment of Assets
Originally from Attachment of Assets
1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgments to be obtained (attachments)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshall?
The Spanish judicial system experienced in-depth changes with the passing and entry into force of the Civil Procedure Act (January 2001). This Act not only introduced changes in the system of attachments (final or preventative), but also clarified and completed the former procedural legislation, enacted in 1881 and with successive reforms. In this sense, this study includes all the changes made by the Act both to the system of final attachment and on questions relating to injunctions (of which preventative attachment is one form).
Additionally, the approval of EC Regulation 44/2001 (now repealed) and the approval of the Regulation (EU) 1215/2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters, has meant that, on measures of security adopted in the scope of the EU, any reference to the Brussels Convention in the legislation of the member states must be deemed to be made to the provisions of this new EU Regulation.
Finally, the new Insolvency Act regulates judicial insolvency proceedings. As regards measures of security, this Act alters the traditional ranking of credits under the Spanish Civil Code as regards the assets affected by insolvency proceedings. Furthermore, the Act includes important amendments to other legislation relating to attachments (e.g., the Labor Procedure Act and the Workers Statute). In view of its relevance, it has been considered appropriate to provide at the end of this chapter the updated version of these articles.