GA_P advises Indra on the acquisition of a 9.5% stake in ITP Aero

Summary of legislative and jurisprudential developments relating to the automotive sector.

There is no single answer to the question of whether or not the assignee of a claim has the power to rescind the underlying contract when the assigned debtor defaults. As a general rule, such rescission will not be possible for the assignee.

Regulation (EU) 2026/1386 establishes a harmonised and mandatory framework for the screening of foreign investments in the Union and replaces the previous Regulation (EU) 2019/452. Among its most notable new features are the obligation for all Member States to have a national screening mechanism with harmonised minimum requirements; the inclusion within its scope of investments made by European subsidiaries controlled by third-country investors; the implementation of a two-stage national procedure; and the strengthening of the European cooperation mechanism through a risk-screening system and a more stringent “comply or explain” principle. Finally, the paper analyses the regulation’s impact on Spain, whose current review mechanism must be adapted in areas such as procedural structure, the review of completed transactions, sectoral expansion, and the penalty regime by 17 January 2028.

Debt from liability in tort for third-party damage or loss arises directly against the directors, without prejudice to the fact that, pursuant to Article 38 CC, it also arises simultaneously against the company, to which the non-contractual acts or omissions of its directors are also attributed. This is so true that the liable company (in debt, for example, with the tax authorities as the person liable for the surcharge and the tax penalty owed) may bring an action for contribution against its directors after settling the debt.

The newsletter covers the main developments in Pharma & Healthcare legislation and case law.

Royal Decree 415/2026 establishes a unified framework for the assessment of health technologies in Spain, distinguishing between the technical assessment and the administrative decision regarding funding, pricing or inclusion in the service catalogue, and incorporating the requirements of Regulation (EU) 2021/2282. The aspect that raises the most legal questions in this new piece of legislation is the connection between the assessment regulated by the Royal Decree and the procedures for funding, pricing, and inclusion in the service catalogue.

A flawed judgment on a problem that has remained unresolved to date in the truck cartel. The issue is not whether the liability-in-solidum regime applies, but whether co-liable parties can raise personal defences.

This paper critically analyses the Supreme Court ruling of 5May 2026, which applies the prohibition on financial assistance to a case involving the sale of treasury shares with deferred payment to the shareholders of the assisting company.

The Supreme Court and the Madrid Provincial Court, following established legal doctrine, have reiterated that a party to a unanimous shareholders’ agreement acts in bad faith if he or she challenges a company resolution passed in compliance with said shareholders’ agreement. In this case, the shareholders’ agreement provided for the possibility of paying dividends in kind, and the contested resolution — which was passed by a majority at the shareholders’ meeting — transferred certain real estate properties to one of the shareholders (with his consent) in payment of the dividend due to him.