Founded in 1909, Vitro, S.A.B. de C.V., is the leading glass manufacturer in Mexico, and one of the largest in the world, backed by more than 100 years of experience in the industry. It is headquartered in Monterrey, Mexico, and has subsidiaries in Europe and the Americas.

On January 10, 2014, the Federal Executive Branch of México published in the Official Gazette the legal amendments to México’s Commercial Bankruptcy Law (Ley de Concursos Mercantiles, or LCM), effecting the most comprehensive set of changes to the LCM since its enactment over 13 years ago, and establishing new rules for bankruptcy proceedings in México with the intent to improve the position of creditors dealing with the insolvency of local companies.

The Mexican insolvency and bankruptcy law (“Ley de Concursos Mercantiles” or “LCM“) that came into effect on May 12, 2000, abrogated the Mexican Bankruptcy and Suspension of Payments Law. One of the stated purposes of the LCM was to mitigate the impact that globalization and the free market had on Mexican corporations, especially after ratification of the North American Free Trade Agreement in 1994. The LCM, therefore, seeks to preserve businesses facing a general default on the payment of their obligations and thereby preserve jobs in Mexico.

Bankruptcy and reorganization are the two primary procedures available for solving a collective action problem in dealing with financially troubled debtors, and both are regulated by the Montenegrin Insolvency Act. Bankruptcy envisages settlement with creditors by sale of the debtor’s assets or sale of the debtor as a legal entity, while reorganization involves settlement with creditors in accordance with an adopted reorganization plan which redefines mutual debtor-creditor relations.

Mexican authorities plan to put 10 years worth of corporate insolvency documents online in order to bring transparency to the judicial system, which is often bogged down by bureaucracy.

Mexicana Airlines has reported that it has filed for bankruptcy protection in Mexico and will seek to reorganize. What does this mean for aircraft lessors and other creditors of Mexicana Airlines?  

The Mexican Business Reorganization Act

With the enactment of the Ley de Concursos Mercantiles (the “LCM”) in 2000, Mexico took a dramatic step towards modernizing its bankruptcy and insolvency laws. Several years later, in 2007, Mexico took additional steps by enacting a number of reforms aimed to create or clarify the legal framework regarding various important topics that were novel in Mexico, including implementation of a process to obtain approval of pre-negotiated plans.  

    近年来，很多投资者有意投资缅甸。2011 年以来，缅甸采取了政治自由化政策，西方国家 因而取消了对缅甸的大多数制裁，缅甸也于 2012 年颁布了《外商投资法》，使得来自中国及 其他国家的投资获得强劲增长。外国投资者通常投资于大规模自然资源项目（如石油、天然 气和铜矿等）、基础设施项目（如电信和水电等）和水泥、旅馆、制造业及消费品等其他产 业。

    为了达到进入当地市场的目的，投资者通常会考虑与当地企业建立合作关系或收购当地现存 企业。这就需要对潜在合作伙伴或目标企业进行初步的尽职调查，发现其是否存在问题，是 否存在投资谈判中必须解决的风险等。

    最基本的尽职调查一般要对目标公司或合作伙伴以往和未决的诉讼、债权人是否处于破产程 序、土地登记和重要资产的是否存在担保物权等情况进行调查 —— 但在缅甸，这些调查都 不能轻易而又可靠地实现。主要原因是缅甸官僚化的行政机关和法院通常可靠性不高，也不 够正规，其档案记录等工作也是如此，这些都妨碍了最基本的尽职调查。

Personal bankruptcy has been introduced for the first time in Montenegro. The Personal Bankruptcy Act came into force on 22 August 2015.

ECT held Hanjin containers hostage