Bankruptcies, reorganization proceedings and debt restructuring
When business is not sustainable
Castro Sammartino & Pierini is frequently retained by creditors in connection with bankruptcies and reorganization proceedings, submitting proof of debts, being in creditor’s committees, dealing with the acquisition of bankruptcy assets, foreclosure of mortgages, chattel mortgages, and other collaterals and related matters.
We also advise businesses with economic and financial difficulties on debt restructuring and out-of-court reorganization proceedings, finding ways to solve those issues so that you can get back to business.
In addition, we also cover other issues related to companies´ economic and financial difficulties, such as labor crisis prevention procedures, collective suspensions, and dismissals.
Castro Sammartino & Pierini with your company, to be better, always.
From our Legal Blog
Mandatory capital reduction and dissolution for loss of capital in Argentina: emergency suspension
Recession, high inflation, currency devaluation and application of the accounting adjustment for inflation, among other causes, may provoke that many companies must expose on their balance sheets relations that make them be incurred in the causes of mandatory capital reduction (Section 206 of the General Companies Law N 19,550, the Ley General de Sociedades or LGS, as amended) or dissolution for loss of capital (Section 94, subsection 5, of the LGS).
Foreign direct investments in Argentina: new Central Bank regulations allowing payment of dividends without prior authorization
On January 16, 2020, the Central Bank of the Argentine Republic (Banco Central de la República Argentina, or BCRA after its Spanish acronym) enacted Communication “A” 6869, lessening the foreign exchange market restrictions for multinational companies doing business in Argentina.
New Foreign Exchange Regulations in Argentina
The Argentine Executive Power, by means of the Urgency and Necessity Decree No. 609/2009, established new foreign exchange regulations in Argentina controlling certain aspects of the inflows, outflows, purchase of foreign currency and other transactions as of 1 September 2019. These regulations have been complemented and extended by additional regulations issued by the Central Bank of the Argentine Republic (Banco Central de la República Argentina, or BCRA after its Spanish acronym).
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