Issues in International Political Economy - Corporate Workouts in Mexico - April 2011 - Special Issue 1

It is now more than ten years that the law governing the Mexican insolvency regime— the Ley de Concursos Mercantiles (LCM, best translated as the "Business Reorganization Act" of 2000)—was enacted and has been successfully applied in hundreds of cases of corporate debt workouts. The LCM is widely and rightly lauded as a quantum improvement over its predecessor, the Ley de Quiebras y Suspensión de Pagos (the "Bankruptcy and Suspension of Payments Law" of 1943).