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Restructuring and insolvency law in Argentina is primarily governed at the national level. This means the same core rules apply across Ushuaia, Tierra del Fuego, and the rest of the country. Debtors, creditors and courts in Ushuaia apply the national framework to local cases.
In Ushuaia, these matters are typically handled by local commercial courts under the national framework known as the Ley de Concursos y Quiebras. The process can involve a court petition, debtor-initiated plans, creditor committees and court supervision. Practically, it centers on preserving value, reorganizing obligations and providing fair treatment to creditors while allowing the business to continue where possible.
Key participants include the debtor, creditors, and a court-appointed fiduciary or concurso administrator who supervises the process. The objective is to reach a viable plan that restructures debts and preserves the ongoing business, or in some cases, to liquidate assets in an orderly manner. A lawyer specialized in restructuring and insolvency helps translate complex rules into a practical strategy for Ushuaia-based entities.
“The national Ley de Concursos y Quiebras (Law 24.522) governs concursos, convenios and quiebras at the federal level, applicable across Ushuaia and Tierra del Fuego.” infoleg.gob.ar
The following laws and regulations form the core framework for Restructuring & Insolvency in Ushuaia and across Argentina. The interplay among these rules guides how debtors, creditors and courts approach restructuring and liquidation.
In Ushuaia, these national rules are applied by the local commercial courts, with oversight by a judge and, if appointed, a fiduciary or síndico. The system emphasizes orderly procedures, creditors' participation, and transparency in plan proposals. For up-to-date text and official commentary, consult the national legal database and judiciary resources cited below.
“Concurso preventivo and convenios are initiated in the commercial courts of the debtor’s domicile or principal place of business, with supervision by an appointed administrador concursal.” pjn.gov.ar
“The Ley 24.522, together with the Civil and Commercial Code, governs how debts are reorganized, how plans are proposed, and how creditors vote on approved arrangements.” infoleg.gob.ar
A concurso preventivo is a court-supervised restructuring process available to insolvent debtors. It starts with a petition filed in the relevant commercial court, outlining the debt scenario and proposing a plan to creditors. An automatic stay may be granted to pause certain creditor actions while negotiations occur.
Engage a local restructuring lawyer who will assess your finances, prepare the petition and plan, and file with the Ushuaia commercial court. The attorney coordinates with creditors, the court and any appointed administrator to advance a feasible restructuring plan.
Concurso preventivo seeks to reorganize debts and keep the business operating. Quiebra is liquidation of assets when a viable restructuring is not possible. The court may convert a concurso into quiebra if restructuring fails.
Yes. Argentine law requires competent legal representation for bankruptcy and restructuring procedures. A local lawyer understands Ushuaia court practices, deadlines and creditor networks.
Costs vary by case complexity, complexity of debt, and time involved. Lawyers may bill hourly or offer a retainer and flat milestones. Obtain a written engagement letter with an estimated budget before proceeding.
Duration depends on case complexity and court workload. Some matters resolve within 6 to 12 months, while others extend longer if negotiations with creditors are protracted. Your lawyer can provide a timeline based on similar Ushuaia cases.
Individuals can pursue certain insolvency procedures under national law, though availability depends on circumstances and debt types. A lawyer can determine if personal insolvency relief applies to you in Ushuaia.
Negotiating a convenio preventivo can speed relief and preserve value, but it requires careful legal guidance. A lawyer helps evaluate feasibility and ensures the plan aligns with creditors’ interests and legal requirements.
Often yes, if the plan provides for ongoing operations and court approvals. The court may set terms to protect the business while creditors see a realizable restructuring path.
The síndico is a court-appointed fiduciary who oversees financial reporting, asset preservation and the administration of the process. They ensure transparency and compliance with the plan and reporting obligations to creditors and the court.
Prepare financial statements, debt schedules, contracts, lease agreements, creditor lists and asset inventories. A lawyer will tailor the list to your case and ensure documents meet court requirements.
Look for specialists in concursos y quiebras with a track record in Ushuaia or Tierra del Fuego. Ask about prior outcomes, preferred strategy, expected timelines and fee arrangements before engagement.
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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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