Mexican Legal Framework of Business Insolvency - White & Case

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2 Consignment Consignación Cooperative Sociedad cooperativa Court Corte or juzgado CPF Código Penal Federal CPM or Federal Constitution Constitución Política de los Estados Unidos Mexicanos Damages and losses Daños y perjuicios Day Calendar day, unless it is specified to be a business day Decentralized organism Organismo descentralizado Devoted estate Patrimonio de afectación Economic agent Agente económico Estate Masa Federal Judicature Council Consejo de la Judicatura Federal Federal Official Gazette Diario Oficial de la Federación General partnership Sociedad en nombre colectivo ICAP or capitalization index Índice de capitalización Ifecom or Federal Institute of Specialists in Commercial Insolvency Instituto Federal de Especialistas de Concursos Mercantiles Indentured trustee Representante común Indeval S.D. Indeval, Institución para el Depósito de Valores, S.A. de C.V., a securities deposit and clearing entity Insolvency proceeding Concurso mercantil Intervenor Administrador cautelar Intervention Intervención cautelar IPAB or Institute for the Protection of Bank Savings Instituto para la Protección del Ahorro Bancario Judge Juez
LBM Ley del Banco de México LCM or Insolvency Law Ley de Concursos Mercantiles LFCE or Antitrust Law Ley Federal de Competencia Económica LFDA Ley Federal del Derecho de Autor LGSC Ley General de Sociedades Cooperativas LGSM or General Law of Commercial Companies Ley General de Sociedades Mercantiles LGTOC Ley General de Títulos y Operaciones de Crédito LIC or Banking Law Ley de Instituciones de Crédito Limited liability corporation Sociedad anónima Limited liability partnership Sociedad de responsabilidad limitada Limited partnership Sociedad en comandita Liquidation Quiebra LISR Ley del Impuesto sobre la Renta LOAPF Ley Orgánica de la Administración Pública Federal LQSP or Law of Bankruptcies and Suspension of Payments Ley de Quiebras y de Suspensión de Pagos LSCS Ley sobre el Contrato de Seguro LSP or Payment Systems Law Ley de los Sistemas de Pagos Members [of the board of Ifecom] Vocales Merchant Comerciante Netting Compensación Novation Novación Office of the Attorney General Ministerio Público Passive estate Masa pasiva Prepackaged concurso Concurso mercantil con plan de reestructura previo Primary possession Posesión originaria White & Case 3
Page 1 and 2: Mexican Legal Framework of Business
Page 3 and 4: Mexican Legal Framework of Business
Page 5: Maria Teresa Fernández Labardini*
Page 8 and 9: PART IIISpecial Insolvencies ......
Page 12 and 13: 4 Priority claim Crédito con privi
Page 15 and 16: Introduction All of a debtor’s as
Page 17 and 18: PART I Out-of-Court Restructuring O
Page 19 and 20: One of the risks that suppliers of
Page 21 and 22: Under either of the two approaches,
Page 23 and 24: . Prevention of Systemic Risk Anoth
Page 25 and 26: verification and admission of claim
Page 27 and 28: The issue is still divided between
Page 29 and 30: the debtor to arrive at a consensua
Page 31 and 32: v. Remuneration Specialists are ent
Page 33 and 34: after his death, if the creditors
Page 35 and 36: The above court precedent has two f
Page 37 and 38: 2. Voluntary Acceptance Small merch
Page 39 and 40: ii. Passive Estate Since a branch i
Page 41 and 42: For a debtor to be considered a hol
Page 43 and 44: ■■ Shutting down the enterprise
Page 45 and 46: ■■ The facts that motivate the
Page 47 and 48: filing such proofs of claim and ind
Page 49 and 50: 29 P. 161. i. Conservative Measures
Page 51 and 52: i. Disposition of Assets During con
Page 53 and 54: ■■ ■■ Granting of collatera
Page 55 and 56: All assets acquired by the concubin
Page 57 and 58: ■■ ■■ ■■ ■■ ■■
Page 59 and 60: ■■ ■■ Claims for an uncerta
Page 61 and 62:
chattel 35 ) unless its price is pa
Page 63 and 64:
c. Extensions of Credit An extensio
Page 65 and 66:
the negotiable instruments and the
Page 67 and 68:
epayment or abandonment shall apply
Page 69 and 70:
■ ■ Swaps: transactions in whic
Page 71 and 72:
If the subject matter of the constr
Page 73 and 74:
Netting of obligations in light of
Page 75 and 76:
they function generally determine f
Page 77 and 78:
. The Reorganization Plan The purpo
Page 79 and 80:
extend to guarantors or co-obligors
Page 81 and 82:
the reorganization plan); (3) all s
Page 83 and 84:
If a debtor does not successfully c
Page 85 and 86:
ii. Timing Removal takes effect leg
Page 87 and 88:
Claims by creditors operate at two
Page 89 and 90:
■■ ■■ ■■ ■■ ■■
Page 91 and 92:
predictability in commercial relati
Page 93 and 94:
The receiver may oppose the foreclo
Page 95 and 96:
■■ A foreign proceeding is a co
Page 97 and 98:
Conditioning the application of cro
Page 99 and 100:
f. Enabling and Access The rules of
Page 101 and 102:
30, 31, 32, 33, 34, 35, 36, 37, 38,
Page 103 and 104:
ii. Once Recognition Is Granted Onc
Page 105 and 106:
concerning the coordination of proc
Page 107 and 108:
20. Non-bank Financial Sector Firms
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■■ ■■ If, however, somethin
Page 111 and 112:
Capitalization is an important indi
Page 113 and 114:
A bank would be declared en concurs
Page 115 and 116:
Bank restructuring through support
Page 117 and 118:
30. Purchase-and-Assumption A bank
Page 119 and 120:
causes for dissolution has occurred
Page 121 and 122:
[LCM 75]. The determination as to w
Page 123 and 124:
33. Securities Market 84 Holders of
Page 125 and 126:
A reorganization plan would be enfo
Page 127 and 128:
■■ ■■ All kinds of animals
Page 129 and 130:
Galindo (1957). GALINDO GARFIAS, Ig
Page 132:
whitecase.com In this publication,
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Mexican Legal Framework of Business Insolvency - White & Case

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