Insolvencies and Insolvency Liquidations

Representation of debtors and creditors in insolvency proceedings. Liquidations, reorganizations and credit verification.

Insolvency can affect both individuals and companies. It can occur for various reasons: an economic crisis, an unpaid debt from an important customer, a bad business streak. What matters is to act in time and with proper legal support.

At Salgado & Sagredo we have represented debtors and creditors since before the entry into force of Law No. 20.720 (Law on Reorganization and Liquidation of Companies and Individuals), accumulating experience in both the procedures of the old Book IV of the Commercial Code and the new insolvency mechanisms.

For the debtor

  • Judicial and extrajudicial representation in voluntary, forced and reflected liquidations.
  • Representation in renegotiation procedures (individuals) and insolvency reorganization (companies).
  • Advisory on evaluating available alternatives and choosing the most convenient procedure.
  • Claims before the Superintendence of Insolvency and Entrepreneurship.

For the creditor

  • Ordinary, extraordinary and conditional credit verification.
  • Representation in creditor meetings and at the hearing of article 196 of Law No. 20.720.
  • Preparation of uncollectible letters in accordance with Circular No. 24 of the Internal Revenue Service or as provided in Law No. 21.210.
  • Advisory on evaluating the possibilities for credit recovery.

Facing an insolvency situation? Contact us to explore your options.