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Restructuring and insolvency matters in Corrientes follow national Argentine law. The core processes include Concurso Preventivo (preventive reorganization) and Quiebra (bankruptcy). Local courts apply these statutes to protect creditors while trying to preserve viable businesses when possible.
In practice, a debtor, creditor or court may initiate proceedings in the provincial civil and commercial courts in Corrientes. The goal is to orderly evaluate debts, assets and possible restructuring plans, or to oversee liquidation if a viable reorganization is not achievable.
Corrientes residents should understand that insolvency law balances debt relief with creditor rights and may involve plans, court supervision and, ultimately, asset liquidation if necessary. National law governs the process, while provincial courts administer filings and hearings locally.
La Ley de Concursos y Quiebras regula los concursos y quiebras a nivel nacional en Argentina, con procedimientos aplicables en Corrientes.
If you are considering restructuring or facing insolvency in Corrientes, a lawyer can guide you through technical requirements and strategic decisions. Below are concrete scenarios that commonly arise in Corrientes businesses and households.
The principal laws governing restructuring and insolvency in Corrientes are national and apply across Argentina. Here are 2-3 key statutes by name, with context relevant to Corrientes residents.
In Corrientes, insolvency matters are heard in provincial commercial courts, with procedures aligned to national law. Recent trends emphasize modernizing court procedures, electronic filings and timely creditor participation, but specifics can vary by court and case type.
A concurso preventivo is a court supervised process that allows a debtor to propose a plan to reorganize debts and continue operations. It aims to maximize value to creditors while preserving the business where feasible.
You or your lawyer file a petition with the local civil and commercial court. The filing requires financial statements, a proposed restructuring plan, and a list of creditors. The court may appoint an administrator to oversee the process.
The trustee or administrator manages assets, verifies claims, and ensures fair treatment of creditors. They assist in implementing a reorganization plan or liquidation under court supervision.
Yes. A lawyer experienced in restructuring will prepare the petition, assemble necessary documents, and negotiate with creditors. Court filings require proper legal representation.
Costs vary by case complexity and market rates. Expect an upfront retainer plus hourly fees, with total costs ranging widely based on case scope and duration.
Timelines depend on case complexity and court workload. A straightforward concurso preventivo may last 6-12 months to reach a plan, with longer cases possible for complex reorganizations.
Filing generally occurs in the jurisdiction where the debtor resides or has domicile registered. Non-residents with ties to Corrientes may file in the appropriate jurisdiction depending on circumstances.
A concurso preventivo seeks to reorganize and continue the business under court oversight. Quiebra involves liquidation of assets when recovery or continuation is not feasible.
Yes. An Acuerdo Extrajudicial Preventivo can be negotiated with creditors outside court and then submitted for court approval to become binding.
Creditors may form committees or appear individually. The court may appoint a representative or monitor, and claims are verified for voting on plans.
Argentina allows individual debtors to pursue bankruptcy under the national framework, with specific procedures and consequences. A qualified attorney can assess eligibility.
Local counsel familiar with Corrientes courts and practices improves filing strategy and timelines. They understand provincial calendars and local filing customs.
Lawzana helps you find the best lawyers and law firms in Corrientes 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.
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