The effects of the pandemic have been devastating for thousands of companies across the country, but alongside their financial problems there have been various legal complications. One of them was the increase in requests for bankruptcies or possible bankruptcies, given the inability of many businesses to fully comply with their obligations.
“From the first months of the confinement, this situation was predicted and despite the fact that the closure of the federal courts did not affect commercial bankruptcies, which are considered as ‘urgent cases’, as stated in General Agreement 8/2020 of the Council of the Federal Judiciary (CJF), everything indicates that the wave of these processes is a reality, “says Yisroel Cimet, partner of the Cimet & Almazán law firm, specialized in civil, commercial, financial, real estate, insurance and surety law.
