Originally published on February 1, 2002
Co-written by Mariela del Carmen Caparrós & Alejandro Breit
On January 30, 2002, the Argentine Congress enacted the Emergency Business and Production Act (Ley de Emergencia Productiva y Crediticia, Law No. 25,563, the "Act"). The Act is an omnibus measure that contains various provisions intended to protect debtors and others perceived as the most adversely affected by Argentina’s prolonged economic slump and recent freeing of the currency. This article focuses on the Act’s amendments to Law No. 24,522 (Ley de Concursos y Quiebras, the "Bankruptcy Code"). As a result, certain significant provisions not directly bearing on bankruptcy law are omitted and discussed in other memoranda. The full text of the Act can be found at http://infoleg.mecon.gov.ar/quiebras.htm.
