- Bankruptcy and Overir Supervision also highlighted the economic councils of bankruptcy as a main tool to cope with financial crises.
Within the International Day Framework of MicroenterPris and Small and Middle Enterprises, the Supervisor of Co -Invasion and Representation, Hugo Sánchez Ramírez, repeated his commitment to the country’s mints, highlighting legal mechanisms available to support those facing survival or counterfeiting situations.
The authority recalled that in August 2023, Law no. 21,563, which included two simplified procedures specified especially for micro and small businesses in crisis, in order to provide more versatile, accessible and less bureaucratic solutions.
“One of these procedures is simplified reorganization, a court procedure oriented towards companies that, despite faced with financial difficulties, remain applicable. This mechanism allows companies to reach a payment agreement with their creditors and entry conditions that allow them to restructure both their operations and their financial situation to continue the work, and thus avoiding a superintendent,”
During the process, a specialized professional who advises the entrepreneur in processing a applicable payment proposal. Moreover, regulations think of a main tool, financial bankruptcy protection, which gives an initial 40 -day period in which judgments cannot be initiated or continued against the company, a benefit that can be extended twice, each for 30 days. This temporary protection allows you to stop embargoes, requirements and other external pressures so that the entrepreneur can focus on building a good payment agreement.
The second mechanism is simplified liquidation, a litigation for companies that can no longer work. In this case, the entrepreneur gives his assets a liquidator who sells them to pay the creditors. “As we hope this is always the latest alternative, new procedures offer a faster, more commissioned and lower cost, which allows you to face waiting obligations, close the economic cycle in a regular way and not block in long and complex trials,” the national authority said.
Along with simplified procedures, Superir offers Minti the possibility of entry into the economic councils of bankruptcy, an official tool of early support seeking to anticipate more serious bankruptcy situations. This procedure allows the entrepreneur to have the assistance of a specialized adviser, who can be chosen directly by the applicant or appointed by overcer through a rifle system.
The councilor has the responsibility to make a full diagnosis of the financial, accounting and economic situation of the company, identifies the causes of overlap and formulates a personalized strategy to address the crisis. This strategy can be translated into direct negotiations with creditors – when an extrajudicial exit is viewed – or in the recommendation to start any of the simplified procedures given by law.
Moreover, as in reorganization, this council provides for a period of financial protection, which gives the company a temporary refuge against judicial actions while setting the strategy to face the crisis. This shelter not only provides calm for the entrepreneur, but also generates a safe space to make informed decisions, evaluate alternatives and build sustainable solutions that allow the critical moment to be overcome.
Finally, the supervisor called on entrepreneurs to act preventive, “do not expect to achieve deep bankruptcy. The invitation is to approach the superior, inform and use the available support,” he concluded.
