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

Inasmuch as functioning as meta-clauses, non-binding and entire agreement clauses are paradoxical in a number of ways.

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

The fiduciary nature of the managed investment relationship supports the view that the bank should be liable for the loss of the pledged item because there would not have been such loss had the client’s order been executed prior to the bank’s resolution — but not for the reason given in the judgment.

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.