The Council of Ministers approved this Tuesday to extend until December 31, 2022 the shielding of strategic companies, popularly known as the ‘antiopas’ shield, through a Royal Decree-Law that includes the extension of other measures to respond to the pandemic and “promote the recovery” of “viable” companies, according to a note from the Ministry of Economic Affairs and Digital Transformation.
The Executive thus extends the suspension of the foreign investment liberalization regime that it launched after the pandemic, which implies that it must authorize foreign investments in listed strategic companies, as well as in unlisted companies in which the investment exceeds 500 million euros. euros.
“The objective of extending the validity of this measure is to protect safety, health and public order, as well as to guarantee legal security for economic operators,” the ministry says.
The Executive has also extended until June 30, 2022 the line of guarantees of the Official Credit Institute (ICO) for freelancers and companies, as well as exceptions in progress for the application of insolvency regimes and the extension, also until June, of the term to request aid from the rescue fund for large companies managed by the Sociedad Estatal de Participaciones Industriales (SEPI) and that of medium-sized companies managed by Cofides.
The Government spokesperson, Isabel Rodríguez, stressed that the objective is for companies “to be able to maintain their growth rate and maintain legal certainty”, after the approval of the European Commission for the extension of these aid.
The decree extends the validity until June 30, 2022 of the guarantee lines of the Official Credit Institute (ICO), “a key instrument to guarantee the maintenance of the productive fabric” that until November 18 has allowed to mobilize almost 134,000 million of euros in 1.13 million operations in which 101,945 million have been guaranteed.
Likewise, the suspension of the duty to request the declaration of bankruptcy and the non-admission for processing of the necessary bankruptcy applications submitted by creditors is extended until that date, “so that viable companies under normal market conditions have legal instruments that allow them to maintain their activity and employment and have an additional margin to reestablish their equity balance while the modernization of the Spanish bankruptcy regime is processed “.
In addition, the exceptional measure established in Law 3/2020 for the exclusion of results for the purposes of the legal cause of dissolution due to losses is extended to 2021.