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Spanish high courts decides arm’s length valuation of participative loan in favor of taxpayer

icon 30 de noviembre, 2011
On October 13, 2011, the Spanish High Court of Appeal («Audiencia Nacional») issued an interesting decision on arm’s length valuation of participative loans. For Spanish legal purposes, a participative loan falls within a hybrid category –similar to shareholders’ subordinated loans- with the following main features:
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Autor/es

Eduardo Martínez-Matosas – Socio

José Manuel Calderón

Tipología

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