Ponteacero

Legal help with Spain's Second Chance Law

Ponteacero is a law firm based in Santa Cruz de Tenerife that focuses on Spain's Second Chance Law. In effect since 2015, this legal process allows individuals—employees or self-employed workers—facing insolvency to seek debt discharge and a fresh start. The firm serves clients exclusively in the Canary Islands.

Services

The firm assesses each case to determine whether the client is an employee or self-employed and identify an appropriate path. It then guides clients through the debt discharge process using one of two options:

• Payment plan: when clients have assets they want to keep, such as a home or vehicle, creditors are offered a five-year payment plan based on what the client can pay each month. Any balance unpaid at the end of that period is discharged.
• Liquidation: if a payment plan is not feasible because income is limited or creditors do not accept it, assets are sold to repay as much of the debt as possible. If at least 50% of the total is covered, the firm applies to have the remaining balance discharged.

Team

The firm is made up of Canary Islands professionals with more than 25 years of experience. Its attorneys include Rafael Saavedra San Miguel (ICATF Bar No. 2486), who specializes in insolvency administration and mediation, and Marcos A. Zafra Monasterio (ICATF Bar No. 3920), who holds a master's degree in business legal advising.

Office and contact

The central office is at C/ Costa y Grijalba, 10, Centro de Negocios, 38004 Santa Cruz de Tenerife. Phones: 922 531 188 and 639 613 172. The firm favors video calls and offers meeting locations near clients' homes across the islands.