The publicity of the insolvency declaration order through the Civil Registry

Abstract

The judicial resolution by which the insolvency is declared is subject to publicity (by insertion of edicts in the BOE, in the Public Bankruptcy Registry, first section, and by publication on the notice board of the court). It is also advertised in the Registry of persons and assets, and in the case of a bankrupt natural person, particularly in the Civil Registry. It is also publicized in the Public Insolvency Registry, which publishes both judicial decisions passed in the bankruptcy proceedings, as well as the entries that said resolutions cause in the Registries of persons, by virtue of the certification sent by the corresponding person in charge of the Registry. With the 1957 Civil Registry Law, the declaration of insolvency was registered in the margin of the birth registration. With the Civil Registry Law of 2011, since the organization in sections that was at the service of the territoriality principle has disappeared, the registration is carried out successively and chronologically on the personal folio open to the bankrupt natural person. The inscription is declarative because the resolution that declares the bankruptcy produces its effects immediately, that is, the limitation of the patrimonial powers of the bankrupt over the assets that make up the active mass. The declaration of insolvency not registered in the Civil Registry also affects the bankrupt and the civil third parties who contract with him, the act being voidable if it does not respect the intervention or suspension of the powers of administration and disposition established in the decision of declaration of the insolvency.