The international procedural cooperation in bankruptcy proceedings in Mexico

Abstract

The National Code for Civil and Family Law Proceedings has modernized insolvency proceedings for non-businesspersons,  introducing out-of-court workouts and ruling out the requirement for unanimous approval in court proceedings, even allowing  the judge to impose the payment plan if no agreement takes place, with the possibility of discharge to the debtor. However, the adoption of the United Nations Commission on International Trade Law (UNCITRAL) model laws of cross-border insolvency and on recognition and enforcement of insolvency-related judgments is necessary to provide the code with adequate tools for an efficient administration of insolvency proceedings with cross-border elements. This article explains the convenience of incorporating these provisions into the national code.