{"id":143612,"date":"2026-07-08T11:19:13","date_gmt":"2026-07-08T11:19:13","guid":{"rendered":"https:\/\/my.legal500.com\/guides\/?post_type=comparative_guide&#038;p=143612"},"modified":"2026-07-10T07:53:40","modified_gmt":"2026-07-10T07:53:40","slug":"mexico-restructuring-insolvency","status":"publish","type":"comparative_guide","link":"https:\/\/my.legal500.com\/guides\/chapter\/mexico-restructuring-insolvency\/","title":{"rendered":"Mexico: Restructuring &amp; Insolvency"},"content":{"rendered":"","protected":false},"template":"","class_list":["post-143612","comparative_guide","type-comparative_guide","status-publish","hentry","guides-restructuring-insolvency","jurisdictions-mexico"],"acf":[],"appp":{"post_list":{"below_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Sainz Abogados<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2020\/06\/Sainzlinkedin_azul.jpg\"\/><\/span><\/div>"},"post_detail":{"above_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Sainz Abogados<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2020\/06\/Sainzlinkedin_azul.jpg\"\/><\/span><\/div>","below_title":"<span class=\"guide-intro\">This country specific Q&amp;A provides an overview of Restructuring &amp; Insolvency laws and regulations applicable in Mexico<\/span><div class=\"guide-content\"><div class=\"filter\">\r\n\r\n\t\t\t\t<input type=\"text\" placeholder=\"Search questions and answers...\" class=\"filter-container__search-field\">\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\r\n\r\n\r\n\t\t\t<ol class=\"custom-counter\">\r\n\r\n\t\t\t\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What forms of security can be granted over immovable and movable property? What formalities are required and what is the impact if such formalities are not complied with?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Mexican law recognizes several forms of security over immovable and movable assets. The most common security interest over immovable property is a mortgage, which is generally governed by the civil laws of the relevant Mexican state. A mortgage must typically be granted in a notarial instrument and registered with the applicable Public Registry of Property in order to be perfected and enforceable against third parties. Depending on the nature of the asset, additional registrations may also be required; for example, security over certain regulated assets may require filings with special registries, such as the Maritime Registry, the Federal Telecommunications Registry or other sector-specific registries.<\/p>\n<p>With respect to movable assets and rights, the most common forms of security include pledges, non-possessory pledges and security trusts. These security interests are generally governed by federal commercial law. Mexican law also permits security interests over a broad range of movable assets and rights, including receivables, equipment, inventory, intellectual property rights, shares and equity interests, provided that such assets or rights are transferable and are not strictly personal to their holder.<\/p>\n<p>The formalities required for perfection depend on the type of security and the nature of the collateral. For example, a pledge over shares or equity interests may require endorsement, delivery, annotation in corporate books and, in certain cases, registration. Security over receivables or collection rights may require notice to the relevant debtor in order to be effective against such debtor, whereas non-possessory pledges are generally perfected by registration with the Sole Registry of Movable Security Interests. Security trusts involving real estate must generally be documented in a notarial instrument and registered with the applicable Public Registry of Property.<\/p>\n<p>Failure to comply with the applicable formalities does not necessarily render the underlying obligation invalid as between the parties. However, it may prevent the security interest from being perfected or enforceable against third parties, including other creditors, purchasers, insolvency officials or the insolvency estate. As a result, the secured creditor may lose priority or be treated, in practice, as an unsecured creditor with respect to the relevant collateral.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What practical issues do secured creditors face in enforcing their security package (e.g. timing issues, requirement for court involvement) in out-of-court and\/or insolvency proceedings?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Secured creditors in Mexico often face significant practical challenges when enforcing their security package, primarily due to timing, court involvement, debtor defenses, valuation issues and the potential impact of insolvency proceedings.<\/p>\n<p>As a general matter, mortgages over real estate must be enforced through judicial proceedings. Mexican law provides a special mortgage enforcement proceeding, which is intended to be more efficient than ordinary civil litigation. In practice, however, the process may still be lengthy. The proceeding generally involves an initial litigation phase, in which the creditor files its claim and the debtor may raise defenses and offer evidence, followed by an enforcement phase, in which the mortgaged property is appraised, auctioned or otherwise sold, and the proceeds are applied to the secured obligations.<\/p>\n<p>Security over movable assets, including pledges and non-possessory pledges, may in certain cases be enforced judicially or through an agreed out-of-court procedure. Out-of-court enforcement is generally more efficient, but it is only practical where there is no material dispute regarding the existence, validity or amount of the secured obligations, the enforceability of the security interest, or the delivery and sale of the collateral. If the debtor contests enforcement, refuses to deliver the collateral or challenges the amount due, the secured creditor will usually need to seek judicial intervention.<\/p>\n<p>Judicial enforcement of pledges is broadly similar in practical terms to mortgage enforcement. The creditor must bring a claim before the competent court, request delivery or seizure of the collateral and obtain judicial authorization for its sale or adjudication, depending on the type of security and collateral involved. The specific remedy and procedure will depend on the nature of the collateral and the security package, such as a share pledge, non-possessory pledge over assets, mortgage over real estate, security over receivables, or security over regulated assets or concessions.<\/p>\n<p>Timing remains one of the principal challenges for secured creditors. Although special enforcement proceedings are designed to be summary in nature, debtors may delay enforcement through procedural defenses, evidentiary objections, appeals, amparo proceedings, challenges to appraisals and objections to auction mechanics. As a practical matter, obtaining a final enforceable order and completing the sale of collateral may take approximately 12 to 30 months, and in complex or heavily contested cases it may take longer.<\/p>\n<p>In an insolvency scenario, the position of secured creditors is further affected by the Mexican concurso mercantil regime. Once a concurso proceeding is admitted or the debtor is declared in concurso, secured creditors are restricted from continuing individual enforcement actions.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What restructuring and rescue procedures are available in the jurisdiction, what are the entry requirements and how is a restructuring plan approved and implemented? Does management continue to operate the business and \/ or is the debtor subject to supervision? What roles do the court and other stakeholders play?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Concursos Law provides for a single insolvency proceeding known as concurso procedure. The proceeding begins with a preliminary visita stage, during which an examiner reviews the debtor\u2019s financial condition and determines whether the statutory insolvency requirements are met. If the debtor is declared in concurso mercantil, the proceeding is then divided into two principal stages: the conciliation stage, which is aimed at preserving the debtor as a going concern through the negotiation and approval of a restructuring agreement with its recognized creditors; and the bankruptcy or liquidation stage, which is aimed at liquidating the debtor\u2019s assets and distributing the proceeds among creditors in accordance with their statutory priority.<\/p>\n<p>During the visita stage, the examiner\u2019s analysis focuses on whether the debtor has generally defaulted on its payment obligations. Under Article 10 of the Concursos Law, this test is met where the debtor has failed to pay obligations owed to two or more creditors and either: (i) at least 35% of its outstanding liabilities are 30 days or more past due; or (ii) the debtor does not have sufficient liquid assets and receivables, as defined under the statute, to cover at least 80% of its due and payable obligations. The Mexican Bankruptcy Court will then review the Examiner\u2019s report and, if satisfied that the insolvency test is met, enter a judgment formally declaring the company into insolvency or Concurso Mercantil.<\/p>\n<p>During the conciliation stage, the company may continue to operate the business in the ordinary course as a debtor in possession under the supervision of the Conciliator (court appointed official). The debtor shall negotiate with its creditors to reach a creditors\u2019 agreement or reorganization agreement. If a creditors\u2019 agreement is reached and approved by the court within the term provided by law, the concurso procedure ends. To be effective, the reorganization agreement shall be subscribed by the debtor and the recognized or acknowledged creditors representing over 50% of the sum of:<\/p>\n<ul>\n<li>the amount recognized to the totality of the recognized or acknowledged unsecured and subordinated creditors; and<\/li>\n<li>the amount recognized to these recognized or acknowledged secured creditors or with special privilege subscribing the reorganization agreement.<\/li>\n<\/ul>\n<p>Pursuant to the Concursos Law, should the subordinated (intercompany) creditors represent more than 25% of all the acknowledged loans, the majority of the remaining unsecured creditors will vote on the restructuring agreement without considering the subordinated creditors.<\/p>\n<p>The second stage of a concurso procedure, if applicable, consists of the liquidation stage. The debtor may be declared in liquidation if the conciliation stage ends without the parties reaching a creditors\u2019 agreement; the debtor fails to comply with the creditors\u2019 agreement; or the debtor requests its liquidation, or the conciliator requests the debtor\u2019s liquidation and the court agrees to grant it.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can a debtor in restructuring proceedings obtain new financing and are any special priorities afforded to such financing (if available)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Concurso Law allows a debtor in concurso mercantil to obtain post-petition financing, commonly referred to as debtor-in-possession or DIP financing. Such financing may be granted super-priority status to the extent it is necessary to preserve the debtor\u2019s ordinary course of business and provide the liquidity required during the proceeding.<\/p>\n<p>DIP financing may be secured with unencumbered assets of the debtor. However, if the proposed financing would prime or otherwise affect existing security interests, the consent of the affected secured creditor is generally required.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can a restructuring proceeding release claims against non-debtor parties (e.g. guarantees granted by parent entities, claims against directors of the debtor), and, if so, in what circumstances?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>It is not uncommon for a reorganization plan under the Concurso Law to include releases of claims against directors, officers or other representatives of the debtor, provided that such releases are limited to civil or commercial liability arising from, or relating to, the restructuring process. Criminal liability, however, cannot be released through a concurso plan, as such matters are governed by public order considerations and fall outside the scope of private creditor consent.<\/p>\n<p>With respect to guarantors, joint obligors or other non-debtor parties liable for the debtor\u2019s obligations, the Concurso Law does not generally permit a restructuring plan to impair or release creditor claims against such third parties without the consent of the affected creditor. Accordingly, any third-party release of guarantees or similar obligations would require the express consent of the relevant impaired creditor.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How do creditors organize themselves in these proceedings? Are advisory fees covered by the debtor and to what extent?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Creditors are generally free to organize themselves according to their respective interests. The Concurso Law does not provide for formal creditors\u2019 committees in the manner available in other jurisdictions, nor does it impose an obligation on the debtor to reimburse creditors for advisory fees or expenses.<\/p>\n<p>In practice, however, creditors may form informal committees or ad hoc groups, particularly in complex restructurings involving financial creditors or bondholders. These groups typically agree among themselves on the terms for retaining legal, financial or other advisors. The debtor may agree to reimburse such advisory fees and expenses as part of a restructuring arrangement or negotiation process, but any such reimbursement would be contractual and subject to agreement, rather than a statutory entitlement under the Concurso Law.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the test for insolvency? Is there any obligation on directors or officers of the debtor to open insolvency proceedings upon the debtor becoming distressed or insolvent? Are there any consequences for failure to do so?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Insolvency Test focuses on whether the company has generally failed to comply with its obligations. Article 10 of the Concurso law provides that the Insolvency Test is satisfied when:<\/p>\n<p>a. the company has failed to comply with its payment obligations in respect of<br \/>\ntwo or more creditors;<\/p>\n<p>b. 35% or more of all the company\u2019s outstanding liabilities are 30 days<br \/>\noverdue; and\/or<\/p>\n<p>c. the company has insufficient liquid assets and receivables as established in the LCM (e.g., cash, cash equivalents and liquid securities) to support at least 80% of its obligations which are due and payable.<\/p>\n<p>There is no specific statutory obligation under Mexican insolvency law requiring directors or officers to commence insolvency proceedings upon the debtor becoming distressed or insolvent. Likewise, Mexican law does not provide for specific \u201czone of insolvency\u201d duties comparable to those recognized in certain other jurisdictions.<\/p>\n<p>However, directors and officers remain subject to general duties of diligence and loyalty under Mexican corporate law. A failure to act in accordance with such duties, including in circumstances where the company is financially distressed, may give rise to liability if their actions or omissions cause harm to the company, its shareholders or, in certain circumstances, third parties. Accordingly, while there is no mandatory filing obligation, directors and officers should carefully assess the company\u2019s financial position and available restructuring alternatives to mitigate potential liability exposure.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What insolvency proceedings are available in the jurisdiction? Does management continue to operate the business and \/ or is the debtor subject to supervision? What roles do the court and other stakeholders play? How long does the process usually take to complete?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>As explained, the Concursos Law provides for a single insolvency proceeding known as concurso mercantil (conciliation\/restructuring or insolvency\/bankruptcy procedure).<\/p>\n<p>The applicable laws to restructurings and insolvency proceedings are mainly the Concursos Law, the General Law on Business Organizations, the Law of Credit Institutions and the Law of Insurance and Bonds Institutions. The debtor itself, any creditor, the district attorney, a judge, and tax authorities in their capacity as creditors, may file insolvency petition. With the petition filed by creditors or authority (involuntary) or the insolvency petition filed by the company (voluntary), as the case may be, a guaranty or bond must be posted to guaranty the examiner\u2019s fee payment.<\/p>\n<p>The first stage of a concurso procedure is the conciliation stage, which is purported to encourage a binding reorganization agreement between the debtor and its creditors and, thus avoid the debtor\u2019s bankruptcy or liquidation (restructuring plan or creditors\u2019 agreement). The conciliation stage shall not last more than 185 calendar days, unless extended for up to two additional consecutive periods of 90 calendar days each; provided, however, that in no event shall the conciliation stage last more than 365 calendar days. Once the commercial insolvency of the debtor has been declared, the conciliation stage shall commence, and attempts to find a formula to allow the debtor and creditors to come to an agreement will begin.<\/p>\n<p>The company may continue to operate the business in the ordinary course as a debtor-in-possession and in this case, the conciliator retains the authority to resolve, among other things: (a) non-ordinary course dispositions of assets; (b) assumption or rejection of material contracts; and (c) after a Concurso Judgment has been entered, preferred and senior financing against the estate (equivalent to debtor-in-possession financing in a Chapter 11 proceeding). Under Article 81 of the Concursos Law, the conciliator may request the Mexican Bankruptcy Court to remove the debtor\u2019s management in certain circumstances.<\/p>\n<p>The Conciliation Stage ends upon (a) an agreement among the company and a majority of its creditors with respect to a consensual restructuring approved by the Mexican Bankruptcy Court in the form of a Plan of Reorganization of Concurso agreement (convenio concursal); (b) the expiration of the term limit set forth above, at which time the Concurso proceeding will move to the Liquidation Stage; (c) the request of the conciliator and with the Mexican Bankruptcy Court\u2019s approval of such request; (d) the company\u2019s request; or (e) the creditors\u2019 request with the company\u2019s agreement. In the case of (b) through (e), the company enters the Liquidation Stage (Quiebra) of the Concurso Mercantil following the Mexican Bankruptcy Court\u2019s entry of a formal judgment for liquidation (\u201cLiquidation Judgment\u201d).<\/p>\n<p>If the Concurso Mercantil proceeds to the liquidation stage, the IFECOM appoints a receiver to operate the company in the liquidation stage. The receiver makes public the order for liquidation and files a report concerning the company\u2019s books and records, assets, and balance sheet. All of the company\u2019s assets are turned over to the receiver. The receiver then takes steps to liquidate or otherwise dispose of the debtor\u2019s assets for the highest possible price pursuant to the rules and procedures expressly provided in the Concursos Law. The proceeds are then used to provide distributions to creditors in accordance with the claims and rankings set forth in the Recognition Judgment. The receiver follows the Concursos Law\u2019s strict rules of publicity and operability to guaranty the transparency of a sale procedure and follows the guidance and forms determined by the IFECOM.<br \/>\nThe liquidation stage is supervised by the IFECOM and the receiver, and the length of the procedure will vary depending on the type of industry and the time required to auction, sell, and reach agreements among creditors to offset claims.<\/p>\n<p>The Liquidation Stage is aimed to terminate any pending company operations, collect any amounts in favor of the debtor, and liquidate any outstanding amounts of the debtor in favor of creditors and, ultimately, its shareholders. The liquidation concludes with the cancellation of the company\u2019s registration.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What form of stay or moratorium applies in insolvency proceedings against the continuation of legal proceedings or the enforcement of creditors\u2019 claims? Does that stay or moratorium have extraterritorial effect? In what circumstances may creditors benefit from any exceptions to such stay or moratorium?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Importantly, the simple filing entity receives no generalized automatic relief upon the filing of a Voluntary or Involuntary Petition until the admission to the Visita Stage (as defined below) is granted. However, it not uncommon that upon the admission of the petition, the Concurso Court issues preemptive measures to enjoin any attachment of assets.<\/p>\n<p>The Concurso Judgment generally stays all acts of collection by creditors. Notably, however, entry of the Concurso Judgment does not necessarily stay all lawsuits involving the company; rather, it stays proceedings concerning the attachment of assets, enforcement decisions, and execution of judgments against the debtor. There are some exceptions, including, for example, labor proceedings.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How do the creditors, and more generally any affected parties, proceed in such proceedings? What are the requirements and forms governing the adoption of any reorganisation plan (if any)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>To be effective, the reorganization agreement shall be subscribed by the debtor and the recognized or acknowledged creditors representing over 50% of the sum of: (i)the amount recognized to the totality of the recognized or acknowledged unsecured and subordinated creditors; and (ii) the amount recognized to these recognized or acknowledged secured creditors or with special privilege subscribing the reorganization agreement.<\/p>\n<p>Pursuant to the Concursos Law, should the subordinated (intercompany) creditors represent more than 25% of all the acknowledged loans, the majority of the remaining unsecured creditors will vote on the restructuring agreement without considering the subordinated creditors.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How do creditors and other stakeholders rank on an insolvency of a debtor? Do any stakeholders enjoy particular priority (e.g. employees, pension liabilities, DIP financing)? Could the claims of any class of creditor be subordinated (e.g. recognition of subordination agreement)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Concurso Law classifies creditors into the following categories: (i) secured creditors, including creditors secured by mortgages or pledges and certain secured tax claims; (ii) creditors with special privilege, as expressly recognized by law, including creditors with statutory rights of retention; (iii) general labor creditors, other than those enjoying super-priority as described below, and unsecured tax claims; (iv) common creditors, including unsecured creditors arising from commercial and other transactions; and (v) subordinated creditors, including intercompany creditors and creditors whose claims have been contractually subordinated.<\/p>\n<p>As a general rule, secured creditors are paid first from the proceeds of the sale of the assets subject to their mortgage or pledge. If the proceeds from the sale of the collateral exceed the amount of the secured claim, the surplus becomes available to satisfy other claims against the estate. Conversely, if the proceeds are insufficient to satisfy the secured claim in full, the secured creditor may participate as a common creditor, on a pro rata basis, for the deficiency.<\/p>\n<p>After payment of secured claims from the relevant collateral, general labor claims and tax claims are paid ahead of creditors with special privilege, common creditors and subordinated creditors. Creditors with special privilege are then paid in accordance with the priority granted to them by law. Common unsecured creditors are paid pro rata from the remaining estate assets after payment of higher-ranking claims. Subordinated creditors are paid last, and equity holders are entitled to receive value only after all creditor claims have been paid in full.<\/p>\n<p>In addition to the above categories, the Concurso Law recognizes certain claims with priority over substantially all other claims. These include: (i) severance payments and accrued and unpaid wages owed to employees, including management, for the two-year period prior to the declaration of insolvency; (ii) expenses incurred in the administration of the debtor\u2019s estate, as approved by the conciliator and\/or the court, including court-authorized or conciliator-authorized DIP financing required to preserve the debtor\u2019s liquidity and ordinary course operations; (iii) claims incurred to preserve and administer the debtor\u2019s assets, excluding the debtor\u2019s professional advisory fees; and (iv) claims arising from judicial or out-of-court proceedings pursued for the benefit of the debtor\u2019s estate.<\/p>\n<p>Unsecured creditors are those whose claims are not secured and do not otherwise benefit from a special statutory privilege. They are paid after secured creditors, priority labor and tax claims, and creditors with special privilege, but before subordinated creditors.<\/p>\n<p>Subordinated creditors are the last class of creditors to be paid in a concurso proceeding. Under the Concurso Law, subordinated claims include claims that have been expressly subordinated by contract, as well as unsecured claims held by certain related parties, including: (i) the debtor\u2019s administrator, senior officers, members of the board of directors, shareholders holding more than 50% of the debtor\u2019s equity, or any other person that directly or indirectly controls the debtor; and (ii) any company sharing the same administrator, board members or senior officers as the debtor. Equity holders are residual stakeholders and will only receive any remaining value after all classes of creditors have been paid in full.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can a debtor\u2019s pre-insolvency transactions be challenged? If so, by whom, when and on what grounds? What is the effect of a successful challenge and how are the rights of third parties impacted?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Intentional fraudulent transactions and certain other transactions may be set aside or declared as void when it is established that the debtor received inadequate consideration. According to the Concursos Law, any of the following transactions may be invalidated if entered into during the period starting on the day that is 270 calendar days prior to the declaration of insolvency by a competent court:<\/p>\n<p>a. transactions executed by a debtor prior to the declaration of insolvency with the intention of defrauding creditors (knowledge of the counterparty is not required if the act was gratuitous);<\/p>\n<p>b. gratuitous transactions;<\/p>\n<p>c. undervalue transactions;<\/p>\n<p>d. transactions not effected at an arm\u2019s-length basis;<\/p>\n<p>e. waivers of debts agreed by a debtor;<\/p>\n<p>f. performance of obligations prior to their maturity date; and<\/p>\n<p>g. discounts made by a debtor.<\/p>\n<p>In line with the foregoing, a presumption exists that the following transactions are executed in fraud of creditors, unless the debtor proves good faith: creation of a new security interests or the increase of any existing security interests if the original obligation did not provide for it; payments in kind when such form of payment was not originally agreed and; transactions entered into by a debtor with related individuals or entities, such as its spouse, cohabiting partner, relatives, members of the board or decision-making individuals within the business, or companies where at least 51% of their capital stock is owned or voted by any of the foregoing individuals. Challenges may be brought by recognized creditors, the conciliator, or the intervener (intervening administrator) appointed by the creditors. The party that challenges the transaction bears the burden of proof. Challenges filed on solid basis uphold. Per the request of the conciliator, liquidator, intervener or any creditor, the judge may extend the 270-day term, but such term may not exceed three years. If subordinated creditors exist (intercompany claims) a 540-day term will apply with respect to the transaction in which these are involved.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are existing contracts treated in restructuring and insolvency processes? Are the parties obliged to continue to perform their obligations? Will termination, retention of title and set-off provisions in these contracts remain enforceable? Is there any ability for either party to disclaim the contract?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>As a general rule, existing contracts entered into by the debtor remain in effect during a concurso proceeding, particularly where they are necessary to preserve the debtor as a going concern and maintain its ordinary course of business. The debtor is generally expected to continue performing its obligations under such contracts, unless the conciliator determines that a particular contract should be rejected or terminated because it is no longer beneficial to the estate.<\/p>\n<p>Contractual provisions that provide for termination, acceleration, retention of title, set-off or similar remedies solely as a result of the commencement of a concurso proceeding are generally restricted or unenforceable under the Concurso Law. Accordingly, counterparties may not rely solely on the filing or declaration of concurso as a basis to terminate a contract or enforce contractual remedies that would undermine the restructuring process.<\/p>\n<p>That said, contractual rights and remedies may remain enforceable where they arise from grounds other than the debtor\u2019s insolvency filing, subject to any stay, court order or limitation applicable under the Concurso Law. The conciliator may also request the rejection or termination of contracts where continued performance is not in the best interest of the estate or is not necessary for the debtor\u2019s restructuring.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What conditions apply to the sale of assets \/ the entire business in a restructuring or insolvency process? Does the purchaser acquire the assets \u201cfree and clear\u201d of claims and liabilities? Can security be released without creditor consent? Is credit bidding permitted? Are pre-packaged sales possible?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>During insolvency proceedings, the sale of assets to protect the ongoing concern of the debtor shall be subject to the conciliator\u00b4s approval. Once the liquidation stage is declared, the receiver may proceed to the sale of assets and rights of the estate with the purpose of maximizing the value of the profit to be obtained, while considering the convenience of keeping the company in operation. The sale shall be made through a public bid pursuant to the Concursos Law provisions The receiver may request the judge\u2019s authorization to sell any asset through a proceeding different to the public bid when they feel a higher value will be obtained. The judge informs the debtor, recognized creditors and intervenors of this intent and will grant them a term within which to provide any objections The purchaser will acquire good title as long as the sale is conducted in the same terms as a public auction. The receiver shall follow the rules of publicity and operability to guaranty the transparency of a sale procedure. A security interest cannot be released without the creditor\u2019s consent.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What duties and liabilities should directors and officers be mindful of when managing a distressed debtor? What are the consequences of breach of duty? Is there any scope for other parties (e.g. director, partner, shareholder, lender) to incur liability for the debts of an insolvent debtor and if so can they be covered by insurances?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Owners\/shareholders may be potentially liable to creditors pursuant to the provisions of civil and criminal regulations. The directors of a company that has not been declared insolvent by a competent court may not be liable for continuing to operate a company under financial distress. However, the transactions related to the collection of a creditor\u2019s rights could be subject to review when the company is declared insolvent.<\/p>\n<p>In the event that the company is declared insolvent, directors engaging in any malicious act or conduct that causes the non-performance of the company\u2019s payment obligations might be liable to civil actions or even criminal liability, if those acts are proven to be fraudulent. The Concursos Law provides for events during which a director or managing officer will become liable to the debtor, for the benefit of the estate of the company in a concurso procedure, for any damages and losses of anticipated earnings caused by any unlawful decision they had made, provided they cause damage to the estate of the debtor which led to the insolvency situation of the company. This is regardless of any liability incurred by the director or managing officer under any other law. Unless good faith and compliance with the duties of care and loyalty can be evidenced members of the board of directors, as well as relevant employees, of the debtor shall be liable for damages and losses due to some of the following activities: voting in board meetings or making decisions regarding the estate of the debtor regardless of a conflict of interest; favoring a shareholder or group of shareholders to the detriment of other shareholders; obtaining, due to their position and without legitimate cause, direct or indirect economic benefits; producing, publishing, providing or ordering information they acknowledge is false; ordering or failing to register operations of the debtor or modifying the registry to conceal the real nature of the operations performed, affecting any element of the financial statements; ordering or accepting the registration of false information in the debtor\u2019s books; destroying, modifying or ordering the destruction or modification of systems or accounting registries or the documentation on which these are based; and in general, committing malicious or illegal acts.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Do restructuring or insolvency proceedings have the effect of releasing directors and other stakeholders from liability for previous actions and decisions? In which context could the liability of the directors be sought?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>No. However, as explained above such releases could be obtained through the reorganization plan.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Will a local court recognise foreign restructuring or insolvency proceedings over a local debtor? What is the process and test for achieving such recognition? Does recognition depend on the COMI of the debtor and\/or the governing law of the debt to be compromised? Has the UNCITRAL Model Law on Cross Border Insolvency or the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments been adopted or is it under consideration in your country?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>According to the Concursos Law, a foreign proceeding is defined as a collective or universal proceeding, whether judicial or administrative, including provisional proceedings, followed in a foreign state pursuant to a law governing bankruptcy, liquidation, or insolvency matters of the debtor; as a result of these proceedings, the property and businesses of the merchant may result subject to the control or supervision of a foreign court, for purposes of reorganization or liquidation. The Concursos Law recognizes foreign proceedings in bankruptcy, insolvency and reorganization matters, and it recognizes foreign representatives appointed through a recognition request. In this regard, the Concursos Law recognizes foreign proceedings when legally held in a foreign country in accordance with bankruptcy or insolvency laws applicable to the debtor due to its activities, the location of assets or other similar causes. The Concursos Law states that any representative of a foreign bankruptcy procedure may request the presiding Mexican court for the recognition of the foreign bankruptcy procedure during a concurso procedure. In terms of the Concursos Law, there are two ways under which a Mexican court can recognize a foreign bankruptcy procedure: (i) as a principal procedure, when the foreign procedure is brought to a court with jurisdiction in the place where the business has its main place of interests; and (ii) as a non-principal procedure, when the foreign procedure is brought to a court with jurisdiction in the place where the business has an establishment. The main difference between the recognition of a foreign bankruptcy procedure as a principal procedure or as a non-principal procedure is in the direct effect of such recognition over the business\u2019s assets located in Mexico. Pursuant to the Concursos Law, if a foreign bankruptcy procedure is recognized as a principal procedure; any and all foreclosure over the business\u2019s assets, and any and all rights to transfer or grant any lien over business\u2019 assets, shall be suspended. A Mexican court shall recognize the foreign bankruptcy procedure as a non-principal procedure if the debtor has a permanent place of business outside Mexican territory, but not as a principal foreign bankruptcy procedure. The recognition aspects of a non-principal foreign bankruptcy procedure are as follows: the granting of appropriate injunctions that concede to a Mexican court to protect the business\u2019s assets or the creditors\u2019 interests, who may request through the foreign representative, that the receiver, conciliator or examiner, as the case may be: suspends all execution injunctions against the business assets; suspends the rights exercised to transmit or to mortgage the business assets, as well as to dispose of such assets in any other way; orders the delivery of evidence or the provision of information regarding the business\u2019s assets, activities, rights or liabilities of the business; entrusts the foreign representative, the receiver, conciliator or examiner, with the administration or foreclosure of all or part of the business\u2019 assets located in Mexican territory; extends every granted injunction granted by the foreign recognition procedure request; and grants any other injunction that under Mexican law may be grantable to a receiver, conciliator or examiner. Once a foreign procedure is recognized, the foreign representative will be able to ask the receiver, conciliator or examiner, to entrust, through a foreign representative, the distribution of all the business\u2019 assets located in Mexican territory. The Mexican court must make sure that the creditors\u2019 interests domiciled in Mexico are sufficiently protected so that it may decree the injunctions mentioned above. With respect to the insolvency matters, the international documents that served as basis for the current provisions of the Concursos Law are the \u201cModel Law for Cross Border Insolvency\u201d of the UNIDROIT and the \u201cEffective Insolvency Systems\u201d of the World Bank. Some of the international treaties to which Mexico is party that are related to insolvency matters are those regarding powers of attorney, judicial requests, request letters, and notifications of judicial or extrajudicial documents in civil and commercial matters.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">For EU countries only: Have there been any challenges to the recognition of English proceedings in your jurisdiction following the Brexit implementation date? If yes, please provide details.<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>NA<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can debtors incorporated elsewhere enter into restructuring or insolvency proceedings in the jurisdiction? What are the eligibility requirements? Are there any restrictions? Which country does your jurisdiction have the most cross-border problems with?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In principle, a foreign-incorporated debtor would not typically be eligible to commence a concurso mercantil in Mexico solely by virtue of being incorporated abroad, unless it has a sufficient jurisdictional nexus with Mexico, such as assets, operations, an establishment or other relevant presence in Mexico.<\/p>\n<p>One potential structuring alternative, although untested in Mexican insolvency practice, could involve incorporating a Mexican holding company or special purpose vehicle and having such Mexican entity assume, guarantee or otherwise become liable for the relevant obligations of the foreign debtor. In that scenario, the Mexican entity could potentially seek concurso protection in Mexico in respect of its own obligations, including any guarantee obligations.<\/p>\n<p>However, there is no known precedent in Mexico in which this type of structure has been successfully used to restructure foreign-incorporated debtor liabilities through a newly incorporated Mexican vehicle. Accordingly, any such structure would need to be carefully analyzed in light of Mexican insolvency eligibility requirements, potential challenges by creditors, fraudulent conveyance or abuse-of-law considerations, and the need for recognition or coordination in other relevant jurisdictions.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are groups of companies treated on the restructuring or insolvency of one or more members of that group? Is there scope for cooperation between office holders? For EU countries only: Have there been any changes in the consideration granted to groups of companies following the transposition of Directive 2019\/1023?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The insolvency of a debtor that is part of a corporate group does not imply the insolvency of the holding company or its subsidiaries. An individual analysis of each entity shall evidence whether it is eligible to be declared in concurso. Nevertheless, debtors which are part of the same corporate group may simultaneously request the joint judicial concurso declaration, without need of estate consolidation. For the joint concurso procedure it is enough that one of the parties of the group is under the assumptions of insolvency under the Concursos Law, and that such condition places one or more of the parties forming the corporate group under the same situation. Creditors of debtors that are part of a group that meet the assumptions described above may claim the joint judicial concurso procedure. The joint judicial concurso procedure can be cumulative with other concurso procedures.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is your country considering adoption of the UNCITRAL Model Law on Enterprise Group Insolvency?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>As far as we know not for the time being.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any proposed or upcoming changes to the restructuring \/ insolvency regime in your country?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>As far as we know not for the time being.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is your jurisdiction debtor or creditor friendly and was it always the case?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>We consider Mexico as a neutral jurisdiction. However, unlike other countries the Concurso Law requires the debtor\u00b4s approval for certain actions such as the extension of the conciliation stage or any restructuring plan. On the other hand, the Concurso Law affords substantive actions and mechanism to the creditors to overview the concurso proceeding such as the appointment of an intervenor or requesting the removing of the debtor in possession.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Do sociopolitical factors give additional influence to certain stakeholders in restructurings or insolvencies in the jurisdiction (e.g. pressure around employees or pensions)? What role does the State play in relation to a distressed business (e.g. availability of state support)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The government plays an active role in special reorganizations considered as such by the Concursos Law, such as business reorganizations of debtors that provide public services pursuant to government concessions, business reorganization of credit institutions and business reorganization of auxiliary credit institutions. Special provisions govern the reorganisation of public service companies, credit institutions and bonded warehouses. These procedures shall be subject to the Concursos Law and to the specific applicable laws, regulations, and concession titles, as the case may be. The agencies responsible for overseeing such public service companies have the right to commence a case and direct the IFECOM to appoint the specialists ordinarily appointed at its discretion.<\/p>\n<p>In recent cases, post-rescue financing was granted to debtors by federal government to bring liquidity as an ongoing concern.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the greatest barriers to efficient and effective restructurings and insolvencies in the jurisdiction? Are there any proposals for reform to counter any such barriers?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Historically, one of the main barriers to efficient and effective restructuring and insolvency proceedings in Mexico was the absence of specialized insolvency courts. Concurso mercantil proceedings were heard by federal district courts, which often lacked specialized experience with the technical, commercial and time-sensitive nature of insolvency cases. This created practical difficulties in the administration of complex restructuring proceedings, particularly where rapid decisions were required to preserve the debtor\u2019s business as a going concern.<\/p>\n<p>This issue has begun to be addressed through the creation of specialized insolvency courts pursuant to General Decree 4\/2022, which became effective in March 2023. We believe that the creation of specialized courts has been a positive development and should help mitigate this barrier over time. However, further training and specialization within the judiciary remain important. In particular, judges and court personnel would benefit from continued education on insolvency law, bankruptcy practice, restructuring transactions and corporate finance, so that courts are better prepared to assist distressed companies, preserve going-concern value and avoid unnecessary value destruction resulting from generalized defaults.<\/p>\n<p>Another important barrier to effective restructurings and fresh starts is that the Concurso Law does not provide for a broad discharge of liabilities in the same manner as certain other jurisdictions. In a reorganization plan, claims are discharged or modified only to the extent agreed in the plan and approved in accordance with the Concurso Law. In liquidation, there is no general discharge of unpaid liabilities; therefore, to the extent claims are not paid in full, creditors may continue to pursue any outstanding deficiencies, subject to applicable law and the debtor\u2019s remaining assets. This can limit the effectiveness of liquidation as a true fresh-start mechanism.<\/p>\n<p>A further limitation is that debt-for-equity transactions generally require shareholder consent, which can make it difficult to implement restructuring solutions that involve equitizing creditor claims where existing shareholders are unwilling to cooperate. In addition, the Concurso Law affords significant protection to secured creditors, and secured claims generally cannot be impaired without the consent of the relevant secured creditor. While this protection is important from a credit and collateral-enforcement perspective, it may also reduce flexibility in complex restructurings where a comprehensive balance-sheet solution is required.<\/p>\n<p>Potential reforms could include: (i) further strengthening and expanding specialized insolvency courts; (ii) providing clearer rules for post-petition financing and priority financing markets; (iii) introducing more flexible mechanisms for debt-for-equity conversions where supported by the requisite creditor majorities; (iv) clarifying the scope and effect of releases and discharges under reorganization plans; and (v) improving tools for restructuring enterprise debt while preserving going-concern value. These reforms would help make Mexican insolvency proceedings more predictable, efficient and attractive as a restructuring forum.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\r\n<div class=\"word-count-hidden\" style=\"display:none;\">Estimated word count: <span class=\"word-count\">6909<\/span><\/div>\r\n\r\n\t\t\t<\/ol>\r\n\r\n<script type=\"text\/javascript\" src=\"\/wp-content\/themes\/twentyseventeen\/src\/jquery\/components\/filter-guides.js\" async><\/script><\/div>"}},"_links":{"self":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide\/143612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide"}],"about":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/types\/comparative_guide"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/media?parent=143612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}