Financial Institutions

Divestment of non-strategic assets: Sale to third parties or outright purchase of assets not needed by the company once it has been resized by eliminating specific lines of business or activity, thus allowing the company to continue. This intervention provides the company with liquidity to meet vital needs such as salaries, social and tax obligations, suppliers.

Total divestment through an orderly closure of the company with the management of the sale or outright purchase of all the company's assets.

We support professionals (lawyers and economists) in the search for solutions for companies through divestment instruments, new investors and other possibilities that avoid the final filing for insolvency proceedings.

Procedures regulated in articles 690 et seq. of the TRLC. The adaptation of the TRLC to the Community Directives has led to the creation of a special insolvency procedure for so-called micro-companies which is regulated in Book Three of the new TRLC. In the aspects relating to the pre-bankruptcy institutions and the possibility of disposal of certain assets, this process is basically the same as that set out in articles 583 et seq. with regard to the rest of the entities that can benefit from the common procedure and therefore, in this special procedure, we can also intervene to give the assets to be realised the highest possible profitability.

We manage the entire procedure for the sale or liquidation of assets, both in the Common Phase, article 204 et seq. of the TRLC, when the needs of the insolvency proceedings require sales in this phase, and the strict liquidation procedure, article 406 et seq. of the TRLC, by designation as a specialised company by the insolvency administrators who have entrusted us with the management of the entire procedure. et seq. of the TRLC, through appointment as a specialised company by the insolvency administrators who have placed their trust in our management, as we take charge of the entire procedure from the commission with the location of the assets, inventory, appraisal, maintenance, security, etc. until the culmination of the sale and payment of the price to the insolvency proceedings, and this both through direct sale procedures and using a notarially certified online auction.

We can intervene in the so-called ‘Counterclaim’, which was introduced for a limited period in one of the reforms of the Insolvency Act and has again been implemented in Art. 8 of Royal Decree 16/2020 on urgent measures issued as a result of COVID-19, being able to advise professionals on investment or disinvestment projects of their clients that are necessary to enable creditors to accept a reformulation of the agreement in the compliance phase but with the prospect that it cannot be met, thus avoiding an effective breach and the opening of the dreaded liquidation.

IAG Auction's participation in the sale of the assets directly represents an increase in the realisation values of the assets and, therefore, a higher return on the credits that are executed, which is beneficial for both the creditor and the debtors.

The marketing and advertising activities aimed at promoting the interest of investors give us a high percentage of success in the adjudication of the auctioned assets. According to IAG Auction figures, during the last financial year 2020, the percentage of auctions ending with bids amounted to 95.45% for real estate assets, while, in the same period, 54.18% of judicial auctions and 38.87% of notarial auctions were deserted (data extracted from the Ministry of the Presidency, Relations with the Courts and Democratic Memory).