The liquidity of €33 billion guaranteed by the ICO during the pandemic, set to expire in 2028, complicates restructurings
The €33 billion in ICO-backed loans expiring in 2028 have become one of the main challenges for corporate restructurings in Spain. The inability to extend these maturities without express authorisation from the Spanish Tax Agency (AEAT) is complicating many refinancing and restructuring processes, particularly for companies with high post-pandemic debt exposure. As reported by Cinco Días, law firms […]
Is Banksy stirring controversy again? The debate over the protection of Street Art
Banksy has once again sparked discomfort with his work — only this time, he chose the wall of the High Court of Justice in London. The scene brings to the forefront questions about copyright law, the protection of heritage-listed buildings, and, of course, freedom of expression.A few weeks ago, an image appeared on the façade […]
Who buys the jewelry stolen from the Louvre? The mystery of an illegal market that is growing unchecked
The recent theft of the jewels of Napoleon III and Empress Eugénie de Montijo from the Louvre has once again highlighted the significant legal risks surrounding the trade of cultural property. As Laura Villarraga, Of Counsel at Kepler—Karst Law Firm, explains, buyers of such pieces face civil liability if the original owner claims restitution, as […]
Is the “bankruptcy without assets” proceeding a way out for company directors?
The bankruptcy without assets procedure, regulated under Spain’s Consolidated Insolvency Act (Royal Legislative Decree 1/2020), raises a critical issue: what is the scope of directors’ liability when a company lacks sufficient assets to even cover the costs of the insolvency process? Originally designed to expedite the liquidation of non-viable companies, this procedure exposes key challenges, […]
Success Story: Acquittal on charges of professional misconduct in aesthetic nursing
The Criminal Court No. 30 of Madrid, in its Judgment No. 292/2025 of September 26, has acquitted two nurses accused of professional misconduct for independently administering dermal fillers containing hyaluronic acid. At Kepler-Karst Law Firm, under the direction of Eduardo de Urbano Castrillo, Of Counsel, and Sandra Imedio, Associate, we pursued a defense strategy focused […]
Taxpayers should not have to bear the consequences of the Tax Agency’s mistakes
The recent Spanish Supreme Court ruling (3rd Chamber, No. 1063/2025, dated 21 July 2025) reaffirms a fundamental principle: the inactivity, delays, or unlawful actions of the Tax Agency cannot benefit the Administration nor harm the taxpayer. The decision sets an important precedent regarding unlawful tax payments and reinforces the principles of legal certainty and the […]
Challenging corporate resolutions as a means of protecting minority shareholders against majority abuse
The protection of minority shareholders against majority abuse has become a central issue in Spanish corporate law. It is increasingly common for minority shareholders to challenge corporate resolutions as a defensive mechanism under the framework of Article 204.1 of the Spanish Companies Act (LSC). Our associate in the Corporate Department, Marta Ibarrola Aycart, contributes to […]
Controversy over the Adidas ‘Oaxaca Slip-On’: Where is the limit of cultural appropriation?
The case of the Oaxaca Slip-On model illustrates an increasingly frequent dilemma: the use of traditional cultural expressions as commercial inspiration without recognition or benefit for the communities that safeguard them. The product’s withdrawal from the market and the subsequent public apology have set a precedent for a broader debate on the limits of intellectual […]
Sri Lanka’s Contractual Innovations
Rodrigo Olivares-Caminal and Rosario Bustillo, of the Sovereign Advisory Practice, have published a new article in the Business Law Review Wolters Kluwer focusing on advances in sovereign debt restructuring. The article examines Sri Lanka’s 2024 sovereign debt restructuring, following the country’s default in 2022 and its subsequent IMF program. With nearly 98% creditor participation, this debt […]
Trouble at Frida Kahlo’s Blue House?: The Legal Price of Art with Illicit Provenance
A scandal is brewing at the Frida Kahlo Museum, better known as the Blue House. Recently, the museum’s former director, Hilda Trujillo Soto, publicly denounced the disappearance of several original works by the Mexican artist, including oils, drawings, and pages from her diary that allegedly left the museum without authorisation. Some of these pieces have […]
