New Accelerated Strategies for Salvaging Companies in Operation

Corporate attorney Miguel Lozano published an article in Asuntos Legales detailing new corporate bankruptcy regulations in Colombia that seek to make the bankruptcy process more agile and guarantee the continuity of viable businesses and protection of credit. The government issued Decrees 560 and 772 in 2020 to offer relief for companies in crisis as a result of the pandemic, and Law 2437 of 2024 made these decrees permanent legislation. The law introduces six proceedings, allows the expedited access to reorganization and establishes mechanism for financial relief and business reactivation in reorganization agreements, among other measures. Mr. Lozano's article summarizes these new developments and describes how they can accelerate judicial actions while giving debtors and creditors more discretion in these processes.

READ: New Accelerated Strategies for Salvaging Companies in Operation