Introduction
In the last few years, a series of changes in the Mexican laws
governing secured transactions have made lending against personal
property such as equipment, inventory and accounts receivable more
attractive to lenders to Mexican companies. The changes have
involved amendments to the substantive law of secured transactions,
including the introduction of new concepts such as non-possessory
pledges and guaranty trusts and the introduction of a central
national registry for recording or registering secured
transactions. Early this year, as part of the Mexican
government's "financial reform" package of laws, the
laws governing civil procedure and the enforcement of security
interests granted by debtors against personal property were
amended. The latest changes became effective in January 2014. While
it is too soon to measure their effects, according to the
legislative history the changes are intended to "modify the
commercial legal framework for the purpose
