The community consideration regarding the simplified winding-up of insolvent microenterprises

a view from Spanish and Portuguese Law

Abstract

Various international organizations and, likewise, the European Union, value the establishment of simplified procedures for the management of microenterprise insolvency, as a fundamental part of the economic development of States. In this sense, limiting ourselves to the community environment, a reflective and critical study is proposed on this measure in Spanish and Portuguese Law. In the first case, we find a mandatory and exclusive procedure for microenterprises, which allows the solution of debts through a continuation plan or a simplified winding-up. On the other hand, in the Portuguese area, there is only one payment plan for owners of small companies, which, in addition, is optional, and, failing this, would allow the micro-entrepreneur to opt for other formulas of insolvency Law.