Chaos Sparks Corporate Exit from Catalonia
Insight Stephen Díaz Gavin · October 23, 2017
Spain’s central government has now invoked Article 155 of the Spanish Constitution to take control from the secessionist-oriented government in the region of Catalonia. The executive of the Catalonian regional government will be replaced, the regional police and finances will be controlled from Madrid and regional elections will be called to allow for a new legislative assembly (Parlament) and local government (Generalitat) within six months.
Some aspects to consider:
- Decisions being made by companies to relocate elsewhere in Spain demonstrates the importance to business of the euro zone and known quantity of EU regulation rather than the risk of an independent Catalonia.
- Firms doing business in Catalonia should consult counsel about next steps.
- Rimon’s European Practice Group can assist with how to deal with Catalonia secession risk.
About the author:
Stephen Díaz Gavin combines legal acumen and litigation experience with public policy advocacy skills to help a diverse range of clients, both international and domestic, in dealing with legal and policy issues facing them in the United States and overseas.
Stephen specializes in international litigation and arbitration, including sovereign representation.