Introduction
As part of the Argentine economic crisis that ended with the default of its public debt, the Argentine government enacted several laws. Among them, two laws were passed in order to amend the Argentine Receivership Proceedings and Bankruptcy Law nro. 24.552 (hereinafter "RPBL").
Firstly law 25.563 was passed1 and, shortly after, a counter reform was performed2 through law No. 25.589. One of the most relevant issues modified by this second amendment is the reform of the out-of-court reorganization agreements (Acuerdo Preventivo Extrajudicial –APE-).
Although this kind of agreements already existed within the framework of law 24.522 the terms of those agreements could not be imposed on all the unsecured creditors and were only binding for those creditors that executed the agreement. Instead with the new regulation provided by law 25.589, if an APE is approved by the necessary majorities, its effects are extended to all the unsecured creditors whether they have
