Jordi Albiol Plans was part of the first year group to graduate in Law at UPF (1994), and he recently attended a meeting on the Ciutadella campus organized by the UPF Alumni service to mark the twentieth anniversary of their graduation. Today, he is a partner in the prestigious law firm Rosaud Costas Duran (RCD), where he is responsible for its Bankruptcy Law Department.

A graduate in Business Management and Administration and the holder of a doctorate in Law from the Abat Oliba CEU University, he is also president of the Commercial and Insolvency and Legal Proceedings Department of the College of Economists of Catalonia, and a lecturer in Mercantile Law at the University of Barcelona.

-What did you think of your reunion with your classmates from the first Law year group?

The truth is I was very excited. It is exciting to meet up again with people who were part of your time at university and share your memories of the past and experiences of the present. It's like going back in time and reliving the past as if your student years happened yesterday!

-What memories do you have of your time at UPF?

It was a very stimulating time; you don't stop learning and you start to delve into a fascinating profession like law, where you are faced with a new challenge every day. I remember the high level of the lecturers, how demanding they were, and how necessary that is in your professional life. Personally, I have memories of a very nice time where I expanded my social circle and started to become an adult. 

-Has the field of bankruptcy law changed much in 20 years?

Bankruptcy law has changed a great deal since then; bankruptcy law has undergone several changes in recent years due to the crisis. For example: there have been three reforms in 2014 alone. However, the most interesting thing is the change in how it is perceived by society: bankruptcy used to be a stigma, and even the old name of "suspension of payments" had negative connotations. Today, and unfortunately after the numerous bankruptcies of recent years, the perction of these procedures has begun to change.

"Bankruptcy used to be a stigma, and even the old name of 'suspension of payments' had negative connotations"

-Have we seen the end of the boom in bankruptcy proceedings in recent years due to the crisis?

In the last year it has slowed down by 40%, and we're beginning to see some stabilization. We could say that we have now bottomed out and we're now starting to build the foundations for recovery.

-What basic tips would you give your clients if they have a business crisis?

The first thing is to do an analysis to have a good diagnosis of the current situation. It's important to have advice from experts, who can provide an objective and thorough viewpoint and advise on the best option for carrying on. And do this before it's too late, because taking too long might not be in your interests.

-Have the new technologies helped make bankruptcy proceedings more flexible? In what ways?

In general, the new technologies have helped to streamline some legal proceedings. Telematic channels have made procedures shorter as they are now immediate and they used to take days, but a lot remains to be done. In the specific case of bankruptcy, there is a lot of communication with the creditors of companies via e-mail; it has become an essential and indispensable tool.

-How do you think an entrepreneur should think about a business venture that has not been successful?

First of all, take some time to digest the situation. As in any grief, at the end of a business project you need some time to recover before facing new challenges. Companies can end up bankrupt for many reasons and many lessons can be learnt from it: from both the good practices and the weaker aspects that have led to the end of the project.

"Companies can end up bankrupt for many reasons and many lessons can be learnt from it: from both the good practices and the weaker aspects that have led to the end of the project"

-For the last three years, the prestigious American publication Best Lawyers has included you in its ranking of the best lawyers in the insolvency and reorganization field.  How do you rate that?

For me it's an honour to be included on those lists; it's recognition for not only my work, but also the work of a team of fifteen professionals who give their very best. I think that it's the result of good teamwork, in the bankruptcy department at RCD and the entire practice in general.

-Rousaud Costas Duran is working with the UPF II Investment Forum 2014, where various technological projects that have taken shape at the University will be presented. What does participating in meetings of this type give you?

At RCD we are clearly committed to providing advice and encouragement for new projects that add value to our society, because it is closely related to innovative character. Eleven years ago, we were the first legal practice to create an innovation and entrepreneurship department, which was headed by Ignasi Costas, an alumnus of UPF. We believe that the II Investment Forum UPF is a good meeting point for talent, creativity and capital looking for new interesting projects. We are pleased to offer our experience and knowledge to help entrepreneurs and investors achieve success in their projects and it is an honour and a privilege to be able to attend.