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28 July 2023

Legal News Alert - Special Edition: Bankruptcy Law Chile

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28/07/2023

ALERTA DE NOVEDADES LEGALES

LEGAL NEWS ALERT

CHILE

Derecho Concursal

Bankruptcy Law 

Ley N°21.563, sobre modernización de los procedimientos concursales y creación de nuevos procedimientos para micro y pequeñas empresas, entra en vigencia

Con fecha 11 de agosto de 2023, entrará en vigencia la Ley N° 21.563, publicada en el Diario Oficial de 10 de mayo de 2023, cuyo objetivo principal consiste en modificar aspectos de la Ley N° 20.720 a fin de agilizar y simplificar los procedimientos concursales, fomentar la reorganización de empresas y personas y crear nuevos procedimientos concursales para micro y pequeñas empresas.

Sus principales aspectos son los siguientes:

  1. Incorpora cambios y simplificaciones destinados a optimizar los procedimientos concursales de empresas y personas insolventes. Por ejemplo, se autoriza a las partes a comparecer a las audiencias judiciales y juntas de acreedores por videoconferencia, de conformidad a las reglas de audiencias telemáticas ante juzgados civiles o de acuerdo con la norma de carácter general que dictará al efecto la Superintendencia, según corresponda.
  2. Incentiva acuerdos de reorganización, en contraposición con la prosecución de procedimientos de liquidación, haciendo a los primeros más accesibles y simples, a la vez que aplicables a micro y pequeñas empresas. Además, asiste a estas últimas de asesoría más accesible de veedores.
  3. Consagra una participación más activa de los acreedores en la toma de decisiones y en la aprobación de los acuerdos de reorganización. 
  4. Promueve la reorganización de empresas como una opción preferente a su liquidación. A este respecto, establece mecanismos para facilitar el acceso a financiamiento durante el procedimiento concursal, el que no debe superar el 20% de su pasivo.
  5. Simplifica los requisitos y procedimientos para acceder al procedimiento concursal. 
  6. Consagra la declaración de mala fe del deudor, a solicitud de cualquier acreedor afectado, cuando el primero ha incurrido en alguna de las circunstancias descritas en la ley, como la utilización de antecedentes falsos o incompletos, distracción u ocultación de bienes o derechos de su patrimonio, entre otros.
  7. Protege los derechos laborales de los trabajadores afectados por la insolvencia de una empresa. Se garantiza el pago de indemnizaciones y beneficios laborales, priorizando su resguardo en el marco de la legislación concursal. Por otro lado, los trabajadores no podrán ser parte de los acuerdos de reorganización.

Para mayor información, por favor contactar a Francisco Prado.

 Law No. 21,563, on modernization of bankruptcy procedures and creation of new procedures for micro and small companies, enters into force

As of August 11, 2023, Law 21,563, published in the Official Gazette on May 10, 2023, will come into force, aiming to modify aspects of Law No. 20,720 in order to expedite and simplify bankruptcy procedures, promote the reorganization of companies and individuals, and create new bankruptcy procedures for micro and small companies.

Its main aspects are as follows:

  1. It incorporates changes and simplifications aimed at optimizing bankruptcy procedures for insolvent companies and individuals. For example, it authorizes parties to participate in court hearings and creditors’ meetings through video conferencing, in accordance with the rules for remote hearings before civil courts or pursuant to the general regulation that the Superintendence will issue for this purpose, as applicable.
  2. It encourages reorganization agreements instead of liquidation proceedings, making the former more accessible and straightforward, while also applicable to micro and small companies. Additionally, it provides more accessible advisory services to these enterprises through supervisors.
  3. It establishes a more active participation of creditors in decision-making and approval of reorganization agreements.
  4. It promotes company reorganization as a preferred option over liquidation. In this regard, it sets mechanisms to facilitate access to financing during the bankruptcy procedure, which must not exceed 20% of its liabilities.
  5. It simplifies the requirements and procedures to access the bankruptcy process.
  6. It establishes the declaration of bad faith of the debtor, at the request of any affected creditor when the debtor has engaged in any of the circumstances described in the law, such as the use of false or incomplete information, diversion or concealment of assets or rights from their assets, among others.
  7. It safeguards the labor rights of workers affected by a company's insolvency. The timely payment of severance pay and labor benefits is assured, prioritizing their protection under the bankruptcy legislation. Employees cannot be part of reorganization agreements.

For further information, please refer to Francisco Prado. 

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Aviso: esta publicación y la información contenida en la misma no tiene por objeto reemplazar la consulta con un asesor legal.
Notice: this legal news alert is not intended to replace legal advice but to provide information of general interest.

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