EL ENCAJE DEL SALE AND LEASE BACK DE EDIFICIOS PÚBLICOS EN EL DERECHO ESPAÑOL Y COMUNITARIO.

Abstract

Given the complex nature of this type of transactions, is it appropriate the Spanish regulations and case-law issued in relation to sales and leases (individually considered) being applied? Or is it fair them being qualified in certain aspects? From a public law standpoint, is it legally feasible the Spanish authorities being engaged in this kind of transactions in relation e.g. to office buildings occupied by regional or national ministries? What is the investor's position when seeking specific performance of the lease? What type of guarantees or securities are legally feasible? What is the indirect taxation of the transaction? How legal restrictions over public indebtedness, and EU State aid control regulations, impact on the deal? This paper addresses those and other practical issues, and identifies certain legal clues to be considered when structuring and implementing this kind of transactions.