International Statement of Mexican Bankruptcy Law - ALI

Price: $95.00 375 pages. 1 Hardcover Volume. Index. Appendices.Published August 2003.
ISBN-13: 978-1-57823-138-6 / ISBN-10: 1-57823-138-8

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Book Overview

Foreword

Note on Citations and References

I. Introduction
A. Background
    1. Form of Government and Constitutional History
    2. The Judiciary in Mexico
        a. Generally
        b. Court Organization
        c. Procedure
    3. Structure of Mexican Commercial Law
    4. The Notarial Function
    5. Conflict-of-Laws Provisions
B. Overview of Bankruptcy Law
C. History of the Present Bankruptcy Law
D. Overview of the LCM
    1. Jurisdiction Over Bankruptcy Matters
    2. Synopsis of Procedure under the LCM
        a. Initiation
        b. The Verification Visit
        c. The Conciliation or Reorganization Phase
        d. The Bankruptcy or Liquidation Phase
        e. Termination

II. Initiation: The Insolvency Declaration and Its Effects
A. Initiation
    1. Generally
    2. Voluntary Insolvencies
    3. Involuntary Insolvencies
    4. The Insolvency Test
    5. The Verification Visit
B. The Insolvency Declaration
    1. Generally
    2. Notifications
    3. Appeal of the Insolvency Declaration
C. The Insolvency Proceedings Officials 
    1. Generally
    2. Requirements
    3. Powers and Duties
D. The Federal Commercial Insolvency Experts Institute
    1. Generally
    2. Organization and Powers
E. The Interventors
F. Effects of the Insolvency Declaration
    1. The Stay
        a. Employee Claims
        b. Employment Contracts
        c. Tax Claims
        d. Third-Party Guarantors
    2. Other Effects
G. The Estate
    1. Generally
    2. Claims for Removal (Release) of Assets
H. Management of the Insolvent Merchant’s Business
I. Contracts in Insolvency
    1. Generally
    2. Acceptance of Contracts
    3. Lease Agreements
        a. Real-Estate Leases
        b. Movable-Goods Leases
    4. Rescission
J. Claims
    1. Generally
    2. Set-off
    3. Sale of Goods
    4. Subordination
    5. Contingent and Future Claims
K. Avoiding Powers
    1. Unperfected Interests
    2. Reach-back Period
    3. Preferences and Fraudulent Conveyances
    4. Post-Insolvency Transfers
L. Criminal Aspects of Insolvency

III. Conciliation or Reorganization Proceedings
A. Generally
B. The Conciliation Phase
C. The Conciliator
D. Operating in Reorganization Proceedings
E. Reorganization Agreement or Plan
    1. Generally
    2. Creditor Approval
    3. Court Approval
    4. Abatement or Condonation of Fiscal Credits
F. Termination of the Insolvency Proceedings at the Conciliation Phase

IV. Bankruptcy (Liquidation Proceedings)
A. The Bankruptcy Phase
    1. The Bankruptcy Declaration
    2. Notifications
B. Síndico in Bankruptcy Proceedings
C. Effects of the Bankruptcy Declaration
D. Management of the Bankrupt Estate
E. Bankruptcy Sales
F. Priorities and Distribution
    1. Priorities
        a. Credits Against the Estate
        b. Tax Claims
        c. Singularly Privileged Creditors
        d. Creditors with an in rem Security
        e. Creditors with a Special Privilege
        f. Common or Ordinary Creditors
        g. Other
    2. Distribution
G. Termination (Extinction) of the Bankruptcy
H. Disqualification and Rehabilitation

V. Mexican Law in Transnational Cases
A. Generally
B. Insolvency of Branches of Foreign Corporations
C. Cooperation with International Proceedings

VI. Groups of Companies
Reporters’ Notes
Glossary of Legislation and Terms

Appendices
Appendix A. A Mexican Perspective on Differences Between the Common-Law and the Civil-Law Systems
Appendix B. The Distinction Between Civil and Commercial Law
Appendix C. Further Comments on the Judiciary in Mexico
Appendix D. The Notarial Function
Appendix E. Summary Discussion of Secured and Guaranty Financing in Mexico
    I. Introduction
    II. General Description
        A. Description of in rem rights against debtors that secure obligations
            1. The “hipoteca,” or mortgage
            2. The traditional dispossessory “prenda,” or pledge
            3. The new “prenda sin transmisión de posesión,” or non-dis-possessory pledge
                a. Description
                b. Enforcement
            4. The “bono de prenda,” or pledge bond
            5. The “caución bursátil,” or securities guarantee
        B. Description of in personam rights against third parties that serve as credit-enhancement devices
            1. The “fianza,” or bond
            2. The “aval”
            3. The “carta de crédito,” or letter of credit
            4. The “fideicomiso de garantía,” or guaranty trust
    III. Analysis of Key Characteristics
        A. Legal nature
        B. Grantor
        C. Recording requirements
        D. Effects under the LCM
            1. Generally
            2. Priorities
            3. Joinder and stay
            4. Tax credits
            5. Preferences
            6. Right of set-off and netting agreements
    IV. Other Credit-Enhancement Devices
        A.The “Reporto” or Repurchase Agreement
        B. Sales with Reservation of Ownership
        C. Preparatory—or Promissory—Contracts
        D. Irrevocable Power of Attorney

Appendix F. Limitations of Ownership by Foreigners of Real Estate in a Zone Along the Borders and the Coastlines
Appendix G. English Translation of the Mexican Insolvency Law
Appendix H. Powers of Attorney in Mexico and the Washington Protocol
Appendix I. Table Comparing the Provisions of the UNCITRAL Model Law on Crossborder Insolvency and Those of Title Twelfth of the Mexican Insolvency Law, Wherein the Provisions of the Model Law Are Incorporated
Appendix J. Inter-American Convention on Letters Rogatory

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