Possible legality of the Spanish instalment payment plan for the suppliers

12 May 2016

Eleanor Sharpston asks the Court of Justice of the European Union not to oppose the Spanish instalment payment plan to suppliers

On May 12 2016 the Advocate General Ms. Eleanor Sharpston asked the Court of Justice of the European Union (CJEU) not to oppose the Spanish instalment payment plan to suppliers. This plan meant waiving 3.000 million Euros of interests on arrears in exchange of recovering the debt principal of unpaid invoices.

On Sharpston view, the mechanism offered creditors the possibility of choosing whether to subscribe to a payment plan, therefore reducing the payment period but renouncing to interests, or to continue just as before.

The Advocate General has also expressed the irrelevance of the debtor being part of a State related organism or a private company.

Even though the Advocate General’s opinion does not bound the CJEU (it is just a proposed solution which its judges must consider) we must take into account that in most cases the CJEU judgments follow the recommendations of the Advocate General.

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