Insolvency Administrators
¿Por qué colaborar con nosotros?
We maximise the value of assets to better satisfy creditors' claims.
We carry out liquidation operations in the shortest possible time in order to avoid the deterioration of the value of the assets.
We guarantee maximum transparency throughout the settlement process.
¿Qué servicios realizamos?
Pre-bankruptcy proceedings art. 583.1 of the TRLC
The transposition of European Directive 2019/1023 should serve as a framework for reordering corporate restructuring mechanisms, in which the urgent sale or auction of assets and Production Units (PUs) will be necessary. Some courts are already applying systems such as prepack, which is configured as an agile and transparent pre-bankruptcy tool in which an independent expert, appointed by the court itself, is responsible for the execution and supervision of the entire process of early sale of the PU. Through this formula, the sale of the UP takes place almost immediately once the insolvency proceedings have been declared.
IAG Auction's experience in the liquidation of bankruptcy and foreclosure assets, as well as its participation in corporate restructuring processes that require the early realisation of assets, allows us to work closely with the independent expert in these key aspects, reinforcing the performance of the future Bankruptcy Administrator and exponentially increasing the chances of success of the operation.
Procedures regulated in art. 583.1 of TRLC
We support professionals (lawyers and economists) in the search for solutions for companies by means of divestment instruments, new investors and other possibilities that avoid the final filing for insolvency proceedings.
Procedures regulated in arts. 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 that is regulated in Book Three of the new TRLC. In the aspects relating to the pre-bankruptcy institutes 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.
Insolvency proceedings declared by the courts
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 strictly liquidation procedure, article 406 et seq. of the TRLC, by designation as a specialised company by the insolvency administrators who entrust 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 by means of a notarially certified online auction.
We can intervene in the so-called "Counterclaim", which was introduced for a limited period of time in one of the reforms of the Insolvency Act and has been implemented again 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.
¿Cómo trabajamos?
Full access to the website and auction platform
Through which all bids are collected, the record of which can be extracted with details of bidders, date and time of bidding and amount bid. The IAG software/platform guarantees that the bidding register cannot be altered by any user from the moment the auction starts.
Real time auctions
Both insolvency administrators and judges/judges/law clerks of the court will be able to securely access our website to monitor the process in real time.
Reliable communications and/or certification
If requested to do so, the formalities carried out for the disposal, including the specific details of the auctions held, shall be certified, even with the intervention of a notary public.
Legal security and transparency
This is one of the basic principles of the functioning of the IAG system as a specialised entity, as it is intended to provide the entire procedure with the maximum legal and technical guarantees as regards the correct functioning of all those involved.
The liquidation of assets through IAG also allows for greater transparency in the sale, as it periodically issues reports with all the commercial actions carried out, as well as the results obtained in terms of campaigns in both the national and international markets, the production of commercial dossiers, the use of specialised portals and posters, among others, depending on the type of asset to be liquidated.
IAG, as a specialised entity, gives a unique treatment to each asset to be managed, whether it is real estate, machinery, stock, production lines and vehicles, among others, since, depending on the type of asset, a working group is created between the different Departments that will take part in the development of the liquidation, appointing a Project Manager who will be responsible for the project.
In addition, from the beginning, the asset is valued and the market is analysed in order to carry out the most appropriate and effective marketing campaigns within the period established in the liquidation.
It should be taken into consideration that the marketing campaigns, in terms of cost, are assumed in their entirety by IAG in order to guarantee their maximum dissemination in the different national and international markets. The campaigns include both the production of commercial documentation (dossiers, posters, publications in specialised portals, etc.) as well as IAG's own staff who actively search for potential customers.
IAG provides other services related to the management of the sale of assets both before and after the liquidation phase, as it advises the Insolvency Administration on the creation of batches of assets in order to make them more marketable, and carries out valuations of both real estate and movable assets, in compliance with the stipulations of article 210 of the TRLC (in order to adjust the values of movable assets to the market, by means of a free appraisal, adjusting the liquidation to much more realistic sales values, with the aim of also improving the accounts of the company in insolvency proceedings based on its assets and liabilities).
In addition, from the outset, the asset is valued and the market is analysed in order to carry out the most appropriate and effective marketing campaigns within the timeframe set out in the settlement.
The administrative post-sale management, the management of the delivery of the adjudicated goods and the logistical management of the dismantling and removal of the goods, as well as the possibility of offering private security of the goods through security means in order to prevent theft and criminal acts in the goods subject to liquidation are also carried out.
In short, the use of the specialised entity IAG to carry out all the operations in the liquidation of assets or linked to them, allows for a more agile, efficient system with the maximum guarantees and legal security, with the register of participants and offers being available at all times both for the Insolvency Administration and for the Court itself, whose register of bids is generated automatically through the platform, collecting all the offers in real time, and whose normal operation of the platform is supervised by technical staff.
The advantages of using IAG as a tool in the liquidation of assets and now more than ever in the current economic and legal situation, based on the provisions of art. 15 of the previous Royal Decree-Law 16/2020 and the current Law 3/2020, and as an alternative to the judicial auction and which is ratified with the TRLC are multiple, both for the streamlining of procedures, as well as for the unloading of work of the Commercial Courts, allowing the outsourcing of auctions, as well as for the insolvency itself and the rest of the creditors.