Texas Lawyer Guest Article: A Guide to Navigating Mexican Insolvency for U.S. Creditors
Commerce between the United States and Mexico has gone on for centuries. What has changed is the scale of the volume of goods and services exchanged across the border and the laws applicable to that mercantile trade.
In 2000, Mexico adopted new insolvency laws that radically revised insolvency in Mexico. In the years since the adoption of those laws, numerous cases on both sides of the border have highlighted the intersection of the insolvency laws of the United States and Mexico.
The new Mexican insolvency laws attempt to thread the needle between balancing creditors' rights, debtors' needs and the legal realities of trade conducted by merchants in different legal regimes, but the regulations can be confusing for in-house counsel trying to navigate between the two countries' systems.
Excerpt from Texas Lawyer, Feb. 20, 2012. To view the full article, click here (subscription required).