Mexican Legal Framework of Business Insolvency - White & Case

Claims by creditors operate at two levels in insolvency proceedings—firstly, for purposes
of determining which creditors may vote in the proceedings and how they may vote
(according to the class into which they fall and the value of their claim, where that is a
relevant factor) and, secondly, for purposes of distribution. The procedure for submission
of claims and their admission is therefore a key part of the insolvency proceedings.
Consideration should be given to determining which creditors should be required to submit
claims and the types of claim that should be submitted. Those claims might include, for
example, all rights to payment that arise from acts of omissions of the debtor prior to
commencement of the insolvency proceedings, whether or not they are mature, liquidated
or unliquidated, fixed or contingent. Consideration should also be given to the procedures
applicable to the submission, verification and admission of claims, the consequences of
failure to submit a claim and review of decisions concerning the admission of claims. 58
While creditor recognition is most relevant for liquidation, the process begins during
the conciliatory stage and, if required, will continue through the liquidation stage
[LCM 120, 177].
i. Allowable Claims
The Insolvency Law does not make a distinction and therefore it is generally accepted
that all valid claims are subject to recognition. This means that recognition would
include claims that are secured or unsecured, as well as claims of a civil (e.g., tort),
commercial, administrative (e.g., taxes, fines), or labor nature. It would also include
present claims as well as future claims originated pre-petition.
While the Insolvency Law is silent in this respect, arguably, unenforceable claims
(e.g., gambling debts, claims for which the statute of limitations has lapsed, etc.)
would not be recognized.
58
UNCITRAL (2005), p. 249.
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