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Restructuring and insolvency law in Argentina provides a framework for individuals and businesses facing financial difficulties. It governs the processes that allow financially distressed companies or persons to either restructure their debts with creditors or proceed with formal liquidation. The primary aim is to balance the interests of debtors and creditors while promoting economic stability and protecting jobs where possible. Argentina has established legal procedures to facilitate proactive debt negotiations and, when necessary, orderly exits from the market.
Dealing with financial distress, whether personal or business-related, often involves complicated legal and financial considerations. A lawyer specializing in restructuring and insolvency in Argentina can help in several situations, such as:
The key legislation governing restructuring and insolvency in Argentina is the Ley de Concursos y Quiebras (LCQ), or Bankruptcy and Insolvency Law. This law provides procedures for two main scenarios: concursos preventivos (preventive reorganization) and quiebras (bankruptcy liquidation).
Both procedures are overseen by insolvency courts and may involve a trustee (síndico concursal) appointed to manage the process. The LCQ also includes rules on the roles and rights of creditors, potential clawback of fraudulent or preferential transactions, and protection measures for employees.
Restructuring refers to attempts to reorganize and negotiate debts to help a business or person regain financial stability. Insolvency often refers to situations where debts cannot be paid, leading to formal bankruptcy proceedings and liquidation of assets.
Both individuals and legal entities (such as companies or partnerships) can initiate preventive reorganization or bankruptcy proceedings under Argentine law.
In bankruptcy (quiebra), assets are generally liquidated under court supervision to pay outstanding debts to creditors. Some personal assets may be exempt from liquidation under specific circumstances.
Yes. Creditors can initiate involuntary bankruptcy proceedings against a debtor if they can demonstrate unpaid debts and certain legal requirements are met.
The court supervises the entire process to ensure fairness and legal compliance. The trustee manages estate assets, reviews claims, reports on progress, and negotiates with creditors.
Filing for concurso preventivo typically suspends most lawsuits and enforcement actions by creditors, giving the debtor time to negotiate repayment terms and protections while the process is ongoing.
Argentine law establishes priority classes for creditors, with certain claims (like employee salaries and tax debts) prioritized over unsecured debts.
The duration can vary widely depending on complexity, the number of creditors, and whether assets need to be sold. Preventive restructurings can take several months, while full bankruptcy proceedings often last a year or more.
In preventive reorganization, companies are usually allowed to continue operating under court protection while they negotiate solutions with creditors.
Failing to comply with legal requirements can result in personal liability for company directors, additional fines, potential criminal charges, or the loss of protection from creditors.
If you need further information or assistance, consider contacting:
If you are facing financial distress as an individual or a business in Argentina, taking action quickly can help preserve your rights and options.
Legal assistance is highly recommended to navigate the complexities of restructuring and insolvency in Argentina. Reaching out early to a qualified attorney can help you achieve the most favorable outcome.
Lawzana helps you find the best lawyers and law firms in Argentina through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.
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