Extension of the temporary legal protection for companies in financial difficulties

Extension of the temporary legal protection for companies in financial difficulties

In a previous legal update, a brief explanation was given regarding Royal Decree No. 15, which introduced a temporary legal moratorium in order to protect companies experiencing financial difficulties as a result of the Covid-19 crisis.

Initially, this moratorium applied until May 17, 2020, but it was recently decided to extend the duration with one month, until June 17, 2020.

For the sake of completeness, please note that this possibility is not open to companies that were already experiencing difficulties before the Covid-19 crisis.