Mexican Legal Framework of Business Insolvency - White & Case

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PART IIISpecial Insolvencies ................................................................................................98 19. Public Service Concessionaires .........................................................................................98 20. Non-bank Financial Sector Firms .......................................................................................99 70 .................................................................................................................. 100 PART IVAdministrative Resolution of Banks 21. Introduction....................................................................................................................... 100 22. Three Pillars ...................................................................................................................... 101 23. Commencement Standards for Banks ............................................................................ 102 24. Capitalization Index .......................................................................................................... 102 25. Early Warning ................................................................................................................... 103 26. Conditioned Operation ..................................................................................................... 103 27. Resolution Alternatives and Systemic Importance ........................................................... 104 28. Winding Up and Liquidation ............................................................................................. 104 29. Bank Restructuring ........................................................................................................... 106 30. Purchase-and-Assumption ............................................................................................... 109 PART VSundry Corporate and OtherLaw Issues ............................................................ 110 77 ................................................................................................................................................................................................. 110 31. Director Liability 79 ............................................................................................................................................................................ 112 32. Mergers & Acquisitions 84 ........................................................................................................................................................................ 115 33. Securities Market 34. Tax Issues ..........................................................................................................................117 35. Criminal Aspects ...............................................................................................................117 Appendix .............................................................................................................................. 118 Real and Chattel Property ...................................................................................................... 118 Bibliography .........................................................................................................................120
Conventions In an attempt to keep the reading fluid, the author has liberally avoided the use of expressions in Spanish. The following table sets forth the correct Spanish expression or an explanation of the term otherwise employed in English. [Law] Bill The bill and/or exposición de motivos of [Law] [Law] [#] Article [#] in [Law] [Law] T[#] Transitory Article [#] in [Law] Accession Accesión Active estate Masa activa Ancillary procedure Incidente Banco de México Mexico’s central bank Bank restructuring Saneamiento Bankruptcy currency Cuota concursal Binding [court] precedent Jurisprudencia CCF or Federal Civil Code Código Civil Federal CCOM Código de Comercio CEF or Financial Stability Committee Comité de Estabilidad Financiera Center of main interests Centro de principales intereses CFF Código Fiscal de la Federación CFPC or Federal Code of Civil Procedures Código Federal de Procedimientos Civiles Claim against the estate Crédito contra la masa CNBV or National Banking and Securities Commission Comisión Nacional Bancaria y de Valores Cofeco or Federal Competition Commission Comisión Federal de Competencia Conciliator Conciliador Conciliatory stage or conciliation Conciliación Conservator Interventor Consignee Consignatario White & Case 1
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 10 and 11: 2 Consignment Consignación Coopera
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
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Netting of obligations in light of
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they function generally determine f
Page 77 and 78:
. The Reorganization Plan The purpo
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extend to guarantors or co-obligors
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the reorganization plan); (3) all s
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If a debtor does not successfully c
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ii. Timing Removal takes effect leg
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Claims by creditors operate at two
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■■ ■■ ■■ ■■ ■■
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predictability in commercial relati
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The receiver may oppose the foreclo
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■■ A foreign proceeding is a co
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Conditioning the application of cro
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f. Enabling and Access The rules of
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30, 31, 32, 33, 34, 35, 36, 37, 38,
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ii. Once Recognition Is Granted Onc
Page 105 and 106:
concerning the coordination of proc
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20. Non-bank Financial Sector Firms
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■■ ■■ If, however, somethin
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Capitalization is an important indi
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A bank would be declared en concurs
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Bank restructuring through support
Page 117 and 118:
30. Purchase-and-Assumption A bank
Page 119 and 120:
causes for dissolution has occurred
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[LCM 75]. The determination as to w
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33. Securities Market 84 Holders of
Page 125 and 126:
A reorganization plan would be enfo
Page 127 and 128:
■■ ■■ All kinds of animals
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Galindo (1957). GALINDO GARFIAS, Ig
Page 132:
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Mexican Legal Framework of Business Insolvency - White & Case

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