Mexican Legal Framework of Business Insolvency - White & Case

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Extending any previously granted relief.
Granting any additional relief that may be available to the visitor, conciliator or
receiver under the laws of Mexico.
Upon recognition of a foreign proceeding, whether main or non-main, the judge
may, at the request of the foreign representative, entrust the distribution of all or
part of the debtor’s assets located in Mexico to the foreign representative or another
person designated by Ifecom, provided that the judge is satisfied that the interests of
creditors in Mexico are adequately protected [LCM 300].
Upon recognition of a foreign proceeding, the foreign representative has standing
to request that the visitor, conciliator or receiver initiate asset recovery or avoidance
actions [LCM 302]. The Model Law provides that the foreign representative has
standing to initiate these actions directly [UML 23(1)], and not through a “domestic
representative.”
The cross-border cooperation provisions will not limit the Mexican judge, Ifecom,
or the visitor, conciliator or receiver from providing additional assistance to a foreign
representative under other laws of Mexico [LCM 284].
i. Cooperation and Coordination
The judge, visitor, conciliator and receiver shall cooperate to the maximum extent
possible with foreign courts or foreign representatives in matters of cross-border
insolvencies. The judge, visitor, conciliator and receiver are entitled to communicate
directly with foreign courts or foreign representatives, with no need of letters rogatory
or other formalities [LCM 304].
Cooperation may be implemented by any appropriate means, including: (1) appointment
of a person or body to act at the direction of the judge, visitor, conciliator or receiver;
(2) communication of information by any means considered appropriate by the judge,
visitor, conciliator or receiver; (3) coordination of the administration and supervision of
the debtor’s assets and affairs; (4) approval or implementation by courts of agreements