In order to allow you to take knowledge of cases that may be of your interest, we provide herein a list of the most recently published notices in connection with the commencement of insolvency proceedings, calls to Creditors' Meetings and winding-up processes started out of the Bankruptcy System. The information provided herein corresponds to the one published in the electronic gazette (Boletín Concursal) of the bakruptcy authority (INDECOPI), or in the official bulletin (boletín oficial) of the Peruvian official gazette (diario El Peruano), as it corresponds*.
(*) Estudio Echecopar, Member Firm of Baker & McKenzie International assums no responsibility for the information contained in this document. The information provided herein must be verified with its official sources: the INDECOPI's electronic gazette, for the case of the initiated insolvency proceedings and calls to Creditors' Meetings; or the Peruvian official gazette, for the case of notices in conection with dissolution and liquidation processes.
1. Initiated Insolvency Proceedings*:
Type of Proceeding
(*) Pursuant to the Peruvian Bankruptcy Law, the creditors of debtors subject to ordinary insolvency proceedings or to preventive insolvency proceedings have 30 business days, from the day following the publication of the commencement of the proceeding, to file their claim registration request. Pursuant to Legislative Decree No. 1511 and its Regulations, creditors of debtors subject to an Accelerated Refinancing Proceeding (PARC) have 10 business days from the day following the publication of the commencement of the proceeding, to file their claim registration request.
2. Calls to Creditors' Meetings*:
Meeting Date (in first call)
Compañia Minera Sayapullo S.A. En Liquidacion
June 30, 2020
July 20, 2020
(*) In accordance with the Peruvian Bankruptcy Law, creditors with right to participate in sessions of a Creditors’ Meeting may register representatives ate least two business days in advance to the date of the meeting (in first call).
3. Winding-up processes out of the Bankruptcy System*:
(*) In accordance with the General Corporations Law, the dissolution agreements are published for three consecutive days. This document only includes the first publication made in the official gazette.
4. Other news:
Companies under a PARC cannot access loans under the Reactiva Peru Program. On June 29, a Ministerial Resolution that modified various provisions of the Operating Regulation of the Reactiva Peru Program, including the eligibility criteria of companies that can access such financing, was published. As part of the introduced modifications, access to the Program has been excluded to companies that have applied for an Accelerated Bankruptcy Refinancing Procedure (PARC). Likewise, the application to a PARC after receiving such loan is a cause of exclusion from the Program and consequently the guarantee granted by the Government is extinguished. The PARC is a temporary regime to prevent the insolvency of companies that are affected due to the expansion of COVID-19. You may see our Legal Insight about such subject.
If you require further information, please do not hesitate to contact us.