The last day 7 May 2020, In full alarm as a result of the health crisis derived from COVID19, It was published in the B.O.E. The Royal Legislative Decree 1/2020 from 5 May which approves the Consolidated text of the bankruptcy law .

This text will come into force on the day 1 September of 2020 and, Among other standards, will lead to the repeal of the current law 22/2003 from 9 July, Bankruptcy law and some of its additional and final provisions.

Until the regulatory development of the standard is carried out, certain modifications included in the text, such as Subjective conditions for the appointment of bankruptcy administrators, retribution of these and public registration (articles 27,34 and 1989 will remain in force with the prior writing to the law 17/2014 from 30 September. Nor will the articles go to such regulatory development 91 a 93 relative to the Tariff guarantee account.

The consolidated text, Secondly, does not entail the repeal of urgent bankruptcy measures that have been approved on the occasion of the COVID-19 crisis, Like the Royal Decree-Law 16/2020, from 28 of April, of procedural and organizational measures to deal with COVID-19 in the field of administration of justice. Consequently, TEMPORALLY LIVING BOTH RULES.

In the month elapsed since the publication of the standard has been written a lot about the opportunity of the same. Being pending the transposition to the internal regulations of the measures to increase the efficiency of restructuring procedures, insolvency and exoneration of debts of the so -called "Second Opportunity Directive", Perhaps it would have been preferable to address a deeper reform that incorporated such measures before 17 July 2021, deadline for said transposition

It is true that it was necessary to order a text that the numerous and successive reforms had become something farra, messy and confusing, Not in bucket they have been twenty -eight (28) reforms from its initial approval in the year 2003, But the exceptionality situation derived from the health alert, the uncertainty about its evolution in the short medium-plating and , thus, About the real impact that this situation will have on the business productive fabric, The foreseeable flood of bankruptcy processes coinciding with the entry into force, The presumable atasco situation of the courts in general and of the mercantiles in particular, And the possible doubts that arise in the application of the new text, They seem to corroborate that lack of opportunity.

The norm arises with the will to improve both systematization and writing so that regulation is easier to understand and the simplest application.

Intends to maintain the concept unit; convert certain principles that were implicit in express regulation, Fill out gaps and eliminate incongruities. Definitely, Eliminate contradictions and duplicities serving as a basis for incorporating future regulations. Among them, And as we have said, THE DIRECTORS OF THE BOARD.

In the case of a consolidated text and, thus, of compilation nature, Does not introduce new standards, But there are changes in the writing of some importance.

However, The above, The norm is born with a majority criticism about the lack of development and regulation of enough issues.

In any case, either with this new text or with which it will be repealed, Little change will be produced in relation to the processing of competitions if there is no new draft modification.

Little will it serve if financial institutions, -main creditors in most cases-, They still do not strive to favor debt refinancing and restructuring, unknown, to the contest application. Little will be modernized, order and clarify whether to the excess of work that the majority of the competent courts already have a foreseeable collapse that affects the deadlines, for example, of admission to process and appointment of bankruptcy administrator. It will be useless, neither, If the concurrence of dilated deadlines and little qualified administrators focus on the definitive insolvency to companies that can be viable (There are some competent bankruptcy administrators and even some very competent but there are also , And in excess, little trained and prepared).

And less, still, It will serve if, Through poor business practices, a company is allowed to pay for knowing its delicate situation only for that reason- this is, take advantage of the situation of weakness of the third.

It is undoubtedly important that the rules are as clear and effective as possible, but, As much as the normative technique is improved in the bankruptcy field, nothing will change if it is not assumed by all that The true philosophy of the contest must be providing viability to companies in difficult situations. And not, As unfortunately we check many times, -especially in the field of SMEs-, put a last lace. This defense of the correct and true business spirit must be accompanied by the corresponding criticism of those entrepreneurs who hurry their situation without implementing the mechanisms to protect the activity of the company taking us to the lawyers, many times, to certify a situation of extremeunance that could have been avoided if it had acted with time and diligently.