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Welcome /  Blog /  2019-02-doc4 Cross-border insolvency law in Argentina

2019-02-doc4 Cross-border insolvency law in Argentina

Insolvency crossing border is heavily debated. The EU has provided a legislative resonse in the Recast of the Insolvency Regulation. UNCITRAL knows close to 50 countries have adopted the Model Law, and UNCITRAL too is close to the finalisation of a separate Model Law on Group enterprise insolvency. Notwithstanding case law resulting from Yukos in the Netherlands, the legislature is silent. With this backgroud it is welcome to have some insights from a jurisdiction, one not ofter hears about regarding their approach to the subject. It’s a pleasure to introduce the latest publication of Héctor José Miguens, a professor from Argentina. He asked me to announced the publication of his book: “El derecho internacional privado de la insolvencia en Argentina y en el MERCOSUR. Propuestas de reforma de lege lata y de lege ferenda”. Editorial Académica Española. Omniscriptum Publishing Group. Riga, Latvia. 2018. Prof. Dr. Héctor José Miguens provided me with the following information:

‘As Professor Rouillon noted in 1999, the Argentine regime for cross-border insolvencies from an international source has little relevance at present, due to the fact that in the 1889 and 1940 Montevideo Treaties not even the neighboring countries with whom Argentina have the greatest volume of commercial exchange and the most important economic relations (Brazil and Chile) are not parties. Moreover, in the few cases where such treaties have been applied, it has become clear that their rules do not lead to quick, practical and efficient solutions to cross-border insolvencies. On the eve of the twenty-first century, Argentina's internal cross-border insolvency regime continues to respond, with some retouching, to the conceptions developed during the nineteenth century. It is, thus, an anachronistic regime, which is out of tune with the current reality of Argentina, its insertion into the regional and global economy, the way economic and financial transactions are carried out today, and contemporary communication systems. See Adolfo A. N. Rouillon, International Private Law Issues in Argentine Insolvency Law 24.522 Published in: Academia Nacional de Derecho y Ciencias Sociales de Buenos Aires, 1999, 01/01/1999, 3 and Online LA LEY ARGENTINA: AR/DOC/10421/2003 (In Spanish) Dissertation delivered by the corresponding Academician Prof. Dr. Adolfo A.N. Rouillon, at the National Academy of Law and Social Sciences of Buenos Aires, in the public session of May 13, 1999.

The purpose of this work is to study the status quaestionis and proposals de lege lata and above all de lege ferenda of the matter of the private international law of the insolvency of the Argentine Republic and MERCOSUR in the light of the legislative activity of international organizations, non-governmental entities, and scientific and professional entities in the area of international insolvency law in the last 30 years. This work echoes the initiatives developed by institutions such as the World Bank, the International Monetary Fund, Insol International, Insol Europe, the International Insolvency Institute, the American Bankruptcy Institute, the American Law Institute, the International Bar Association, and current standards such as the European Insolvency Regulation of 2000 and 2015.
The author proposes the adoption of norms such as the Argentine Preliminary Draft of 2002 on cross-border insolvency, with some modifications and additions, inspired by the UNCITRAL Model Law on Cross-Border Insolvency of 1997. After the publication of this work, at the end of 2018 a new draft law on cross-border insolvency was published in Argentina, which follows the guidelines of the previous law of 2002 with some modifications.

Héctor José Miguens is a Lawyer (Universidad Nacional de Buenos Aires, Argentina), Trustee in Insolvency Specialist (Universidad Nacional de Tucumán, Argentina), Doctor in Law, (Universidad de Navarra, Spain), Independent Researcher of CONICET (National Council of Scientific and Technical Research), Argentina, Extraordinary Professor of Insolvency Law, Faculty of Law, Universidad Austral, Buenos Aires, Fellow, Max Planck Institut, Hamburg, Germany, and Fellow, University of Oxford. Email: hmiguens@gmail.com. www.conicet.gov.ar
Made with the financial support of CONICET and the Alexander von Humboldt Foundation of Germany, this work can be downloaded from the website: www.get-morebooks.com  / www.morebooks.es  / https://www.morebooks.de (Omniscriptum Publishing Group) (www.omniscriptum.com)’.