Expedited Insolvency Proceedings Extended Through 2023.
The Covid-19 pandemic generated a series of events or crises that led to a reassessment of various economic, administrative, and legal situations throughout society. In Colombia, various measures were implemented to address the consequences that arose on a daily basis, and especially the direct effect on the country's economy. This led to the establishment of agile legal processes through Decree-Laws, in order to safeguard the internal economy and provide all entrepreneurs with a lifeline to continue their businesses, without having to resort to an unexpected closure, or, failing that, to ensure that the closure of the company was agile enough to pay off debts, return its assets to the normal flow of the market, and reactivate commerce within the sector where it operates.
January 12, 2023
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