News
INDECOPI is working in a new insolvency bill. The purpose of it is to modify some articles of the Law 27809; The Peruvian Insolvency Law.
Law 27809-“The Peruvian Insolvency Law”
Law Decree 26116 – Restructuring Law
Decreto Ley 26116 – Ley de Reestructuración empresarial
Law 27809 – Insolvency System Law
Ley 27809 – Ley General del Sistema Concursal
The Law establishes two kinds of procedures: ordinary and preventive procedure. The first one is established for debtors who have present crisis situation. Both creditor and the own debtor can initiate this procedure. This procedure is divided in two ways, depending on the purpose of the procedure: Liquidation of the company or the assets of a person, or restructuring. The second procedure is establishes to present crisis situations. The debtor can only initiate it.
Role
played by Government
It appoints the members who will act in the administrative court and who will decide the insolvency procedures.
Role
played by private sector practitioners
N.a.
Role
played by the Court
The Government administrates the procedures through an independent and technical authority: INDECOPI.
Creditors
They took the most important decisions in the procedures
Does
the insolvency system in the Peru allow
for:
1. |
Different
procedures for the insolvency of individuals
and the insolvency of companies? |
|
|
2. |
Creditors
to accept an arrangement outside of formal
bankruptcy/liquidation proceedings? |
|
|
3. |
Priority
payment for employee creditors? |
|
|
4. |
Priority
payment for taxation debts? |
|
|
5. |
Automatic
disqualification of directors of failed companies
from managing other companies? |
|
|
6. |
Recognition
of insolvency proceedings being conducted
in another jurisdiction? |
|
|
7. |
A
government agency to undertake insolvency
administration work? |
|
|
8. |
Some
form of licensing of private sector practitioners? |
|
|
9. |
A
review of the remuneration claimed by an
insolvency practitioner by either a court
or other government regulator? |
|
|
10. |
A
mandatory scale of fees applicable to insolvency
practitioner remuneration? |
|
|
11. |
Surveillance
of the work of private sector practitioners
by a government regulator? |
|
|
12. |
Collation
of insolvency statistics by a government
regulator? |
|
|
|
