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How do I know if my company is obliged to bankruptcy protection?

If your company is in a situation of current or imminent insolvency, not being able to fulfil its obligations on time and regularly or if there is a forecast of not being able to fulfil its obligations on time in the imminent future.

Do I have a duty to report insolvency?

The debtor must request the declaration of insolvency if it is in a state of insolvency, communicating if it is current or imminent, although there are mechanisms to mitigate this inexcusable duty, through the communication of negotiations to try to negotiate a refinancing agreement.

How does the insolvency declaration affect my company?

The declaration of insolvency will not interrupt the continuation of the professional or business activity that is carried out. However, in the resolution of the declaration of insolvency, the type of bankruptcy protection, the rules, will be specified, and it will be defined how the powers of administration of the company are affected.