With reform of the Insolvency Act, Passed by Congress clears the way for the modification that, from July 2012 not prevent sports clubs in default to avoid relegation for debts.
Today, a total of twelve clubs are in bankruptcy: Rayo Vallecano, Real Zaragoza, Real Betis, Cadiz, Granada, Polideportivo Ejido, Xerez, Recreation, Cordova, Hercules, Mallorca and Racing Santander, and precisely at this point to such equipment are not given the penalty demoted for not paying debts with Social Security, with his players or creditors. Until now the prevailing view that his classification in the competition is an asset to the club, which would be lost in deep trouble their bottom line revenue to suffer severely.
With these parameters, there have been many football clubs and other sports that have benefited from Bankruptcy Law, Voluntarily putting hands of a judge, to the more secure continuity in the category, while the other clubs, we do provide funds to pay its debts, Clearly feel discriminated against.
To end this scourge, the Government has included in reform of the Insolvency Act an additional provision makes it clear that subject to the procedure Bankruptcy “In any case not prevent the application of the force of law provisions governing the participation in the competition.”
In this reform from July 31, 2012When applying the Insolvency law reform without exception, those clubs that are not current in the compliance with its obligations wage with athletes or other club, lower class directly.
Can you imagine downgrading to Barcelona for his debts?, Do you think apply the Insolvency Law Reform to the letter?