Análisis Jurídico - Político Volumen 6 Número 12
Vol. 6 No. 12 (2024): Julio - Diciembre
Published
2024-07-30
PDF (Spanish)

How to Cite

Arboleda Montalvo, J. A. (2024). Critical Analysis of Bill PL 106 of 2023 Reforming the Insolvency Regime Compared to the Current Law 1116 of 2006. Análisis Jurídico - Político, 6(12), 177-195. https://doi.org/10.22490/26655489.8218
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Critical Analysis of Bill PL 106 of 2023 Reforming the Insolvency Regime Compared to the Current Law 1116 of 2006

DOI: https://doi.org/10.22490/26655489.8218
Section
Artículos de reflexión
Jorge Andrés Arboleda Montalvo Universidad Santiago de Cali

The new Bill is a text submitted to the Congress of the Republic and is currently under review. It seeks to permanently incorporate Legislative Decrees 560 and 772 of 2020 into the legal framework. The study reflexively compares this bill with the current insolvency law to conduct a critical analysis of both legislative texts, evaluating their strengths, weaknesses, and potential impact on the Colombian
business environment. Although both texts essentially aim to protect credit and facilitate business recovery in Colombia, it is concluded that the legislator intends to modernize the insolvency regime and provide a second chance for companies. This would be achieved through business reorganization, bringing insolvency closer to
new, more accessible, flexible, and technological mechanisms. Law 1116 of 2006 safeguards the economic viability of companies and promotes job creation through reorganization and judicial liquidation processes. On the other hand, Bill PL 106 of 2023 aims
to permanently establish the measures implemented by Legislative Decrees 560 and 772 of 2020, along with Regulatory Decrees 842 and 1332 of 2020, in matters of business insolvency, incorporating technology. However, it is still too early to conduct a deeper analysis.

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