Sumário:Bankruptcy declaration : requirements of the bankruptcy declaration : subjective condition; objective condition. Who may present a bankruptcy petition. Competent Court -- Administration of the bankruptcy : composition. Responsibilities -- Effects of the bankruptcy declaration on the debtor : patrimonial powers of the debtor following the bnkruptcy declaration. Continuity of the business activity. Effects of the bankruptcy declaration where the debtor is a corporation? -- Effects on the creditors -- Effects of the bankruptcy declaration on the debts : no offset. No accrual of interests. Suspension of limitation -- Effects of the bankruptcy declaration on contracts : contracts with reciprocal obligations; termination for breach. Early termination clauses. Reinstatement of credit and hire pruchase agreements. Employment agreements -- Determination of the bankruptcy assets and liabilities : assets : principle of totality; reintegration actions; bankruptcy liabilities : bankruptcy debts and debts against the bankrupt's estate (concept, characteristics, and types of debts) : Bankruptcy debts and debts against the bankrupt's estate; classification of bankruptcy debts -- Winding-up or arrangement : arrangement. Winding-up -- Responsibility of shreholders and directors -- Termination of the bankruptcy proceedings -- International aspects : international jurisdiciton of Spanish courts : mains insolvency vs. territorial insolvency. Recognition of judgements handed down in foreign insolvency proceedings. Appointment and powers of administrators and liquidators. Coordination between insolvency proceedings opened in Spain and abroad.