Best Restructuring & Insolvency Lawyers in Córdoba

About Restructuring & Insolvency Law in Córdoba, Argentina

Restructuring and insolvency law in Córdoba follows Argentina's federal framework for concursos y quiebras - processes that regulate how financially distressed debtors negotiate with creditors or are liquidated. While the basic statutory rules are federal, proceedings occur before local civil and commercial courts in Córdoba and involve local institutions such as the Registro Público de Comercio and judicial bodies based in the province. The two main paths are preventive reorganization - known as concurso preventivo - aimed at restructuring debt and keeping the business running - and quiebra, or bankruptcy liquidation, for cases where recovery is not viable. Proceedings are supervised by a judge and a court-appointed trustee or syndic - síndico - and key creditor meetings and approvals determine the outcome.

Why You May Need a Lawyer

Restructuring and insolvency matters are legally complex and time-sensitive. You may need a lawyer if you are a business owner, director, shareholder, creditor, employee, or guarantor facing one of these situations:

- The company cannot meet payroll, tax or supplier obligations and needs to consider a concurso preventivo or out-of-court restructuring.

- Creditors are threatening enforcement, attachment, or commencement of insolvency proceedings.

- You have personal guarantees, pledged assets or mortgages that creditors seek to enforce.

- There are labor claims or large tax liabilities that could take priority in a restructuring or liquidation.

- You want to negotiate a debt workout, renegotiate contracts, or sell business units under insolvency constraints.

- You need to evaluate options for corporate reorganization, insolvency filing strategy, and compliance with procedural requirements in Córdoba courts.

- You are a creditor seeking to protect your rights, file claims, participate in creditor committees, or enforce collateral.

Local Laws Overview

The following are key legal aspects to understand when dealing with restructuring and insolvency in Córdoba:

- Applicable statute - Insolvency procedures in Argentina are primarily governed by the federal bankruptcy law commonly cited as Ley 24.522 and related regulations and jurisprudence. Local practice in Córdoba is shaped by how provincial civil and commercial courts apply the law.

- Concurso preventivo - This is the preventive reorganization designed to allow a debtor to propose a restructuring plan - convenio - that, if approved by creditors and homologated by the judge, binds creditors and permits the business to continue operating under judicial supervision.

- Quiebra - If a restructuring is not viable, a judge may declare quiebra, appoint a síndico to liquidate assets, and distribute proceeds according to legal priorities.

- Creditor classes and voting - Creditors are grouped into classes with separate voting rules for approval of proposals. The law sets majorities required and the role of secured versus unsecured creditors.

- Priority of claims - Labor and tax claims commonly receive special treatment and priority. Secured creditors have enforcement rights over collateral, although concurso and quiebra procedures affect timing and possible recovery.

- Role of the síndico and judge - The court appoints a trustee or síndico to oversee asset protection, creditor lists, and the liquidation or reorganization process. The judge controls procedural steps and must homologate agreements.

- Filing and jurisdiction - Insolvency filings are made in competent civil and commercial courts in Córdoba. Venue and procedural rules can affect timing and outcomes, so local practice matters.

- Out-of-court alternatives - Informal workouts, mediated negotiations, and voluntary agreements with creditors are common. These can avoid the costs and publicity of judicial proceedings but require careful documentation and legal counsel to be effective.

- Cross-border issues - International claims, assets outside Argentina, and foreign creditors add complexity. Argentina does not follow the same cross-border insolvency frameworks as some jurisdictions, so expert advice is essential for multinational matters.

Frequently Asked Questions

What is the difference between concurso preventivo and quiebra?

Concurso preventivo is a judicially supervised restructuring process that allows a debtor to propose a repayment or reorganization plan to creditors with the goal of preserving the business. Quiebra is bankruptcy liquidation, where assets are sold and proceeds distributed to creditors because the business cannot be rescued. The choice and timing depend on viability, creditor support, and judicial findings.

Can a company in Córdoba file for concurso preventivo voluntarily?

Yes. A debtor may voluntarily file for concurso preventivo to seek protection while negotiating a plan. Voluntary filing can provide immediate relief from some enforcement actions and create a structured negotiation framework before liquidation becomes necessary.

Do labor and tax claims have priority in Córdoba insolvency proceedings?

Yes. Under Argentine insolvency rules, labor claims and certain tax obligations are treated with priority and can affect restructuring options. Labor claims often rank high for payment and may be difficult to reduce in full. Tax authorities may continue collection actions unless properly stayed by the court, so early legal advice is critical.

What documents should I gather before meeting a restructuring lawyer?

Bring corporate documents, recent financial statements, bank statements, tax returns, payroll records, list of creditors with outstanding balances, copies of loan agreements and guarantees, contracts with suppliers and clients, asset registers, and minutes of corporate meetings. The more complete the information, the faster a lawyer can assess options.

How are secured creditors treated in a concurso preventivo?

Secured creditors have rights over collateral and typically rank ahead of unsecured creditors. However, depending on the plan and court decisions, enforcement timing and the treatment of secured claims can be affected. Secured creditors should act promptly to preserve remedies and participate in creditor negotiations.

Can creditors force a debtor into quiebra in Córdoba?

Yes. Creditors can petition the court to declare a debtor in default and request quiebra. The court evaluates petitions, the debtor's solvency, and procedural requirements. Creditors must follow statutory procedures and provide evidence of default.

How long does a restructuring or insolvency process usually take?

There is no fixed duration. Simple consensual workouts can be concluded in weeks or months. Judicial concursos and quiebras can last many months or years depending on complexity, asset realization, litigation, and creditor opposition. Expect judicial timelines in Córdoba to vary by court workload and case facts.

What fees should I expect when hiring a Córdoba lawyer for insolvency matters?

Fee arrangements vary - hourly rates, fixed fees for specific services, or mixed arrangements with success fees are common. Initial consultation fees may apply. Ask up front about billing, likely stages of work, anticipated costs, and whether the lawyer can estimate total expenses for filing, negotiations, and litigation.

Can shareholders and directors be personally liable for company debts?

Shareholder liability is generally limited by corporate form, but directors and officers can face personal liability in specific circumstances - for example, if they acted fraudulently, wrongfully diverted assets, failed to file timely insolvency proceedings when required, or improperly satisfied certain creditors. Personal guarantees and guarantees for specific obligations also create direct personal exposure.

Are there alternatives to court-supervised restructuring in Córdoba?

Yes. Parties often pursue out-of-court workouts, mediated agreements, debt-for-equity swaps, sales of business units, or negotiated settlements with major creditors. These alternatives can be faster and less costly but require careful legal documentation and credible negotiation leverage to be effective.

Additional Resources

When you need more information or assistance in Córdoba, consider these local and national resources:

- Registro Público de Comercio de la Provincia de Córdoba - for company registration and corporate records.

- Juzgados Civiles y Comerciales de la Provincia de Córdoba - the local courts where insolvency cases are heard.

- Colegio de Abogados de Córdoba - a professional association that can help locate qualified commercial and insolvency lawyers.

- Ministerio de Justicia y Derechos Humanos de la Nación - for national policies and legal references related to insolvency law.

- Administración Federal de Ingresos Públicos - AFIP - for tax related obligations, procedures and queries relevant to insolvent taxpayers.

- Sindicatos y asociaciones de trabajadores - for guidance on labor claims and workers rights in insolvency cases.

- Local chambers of commerce and business associations in Córdoba - for practical guidance on restructuring, mediation services, and peer experience.

Next Steps

If you believe you need legal help with restructuring or insolvency in Córdoba, take these steps:

- Gather documents - Financial statements, creditor lists, contracts, guarantees and corporate records are essential for assessment.

- Seek an initial consultation with a lawyer specialized in insolvency and restructuring who has experience in Córdoba courts. Prepare questions about strategy, costs, timelines and possible outcomes.

- Identify immediate risks - Are creditors pursuing enforcement, is payroll at risk, are tax authorities initiating collection? Address urgent exposures first.

- Discuss alternatives - Ask about out-of-court workouts, mediation, sale options and timing for a concurso filing if appropriate.

- Understand confidentiality and privilege - Ensure communications with counsel are protected and clarify how sensitive information will be handled.

- Plan for stakeholder communication - Coordinate messaging to employees, major suppliers, lenders and other stakeholders under your lawyer's guidance.

- If you are a creditor, preserve remedies and file claims timely - consult counsel to protect your rights and participate effectively in any proceedings.

Restructuring and insolvency issues are high-stakes and fact specific. Local expertise in Córdoba is critical to navigate procedural steps, creditor dynamics and statutory rules. A qualified local insolvency lawyer can help you evaluate options, protect assets and pursue the solution best suited to your situation.