Bankruptcy justice must be in the interest of society: Minister Laynez

Mexico City. Bankruptcy justice must be of interest to all of society due to the economic effects generated by bankruptcy proceedings, since in addition to contributing to restructuring the financial situation of companies that face insolvency problems, they favor the conservation of sources of employment and investment. in the country, which guarantees the security of the internal market, stated the minister of the Supreme Court of Justice of the Nation (SCJN), Javier Laynez Potisek.

When inaugurating the Third Bankruptcy Day organized by the Federal Institute of Commercial Bankruptcy Specialists (IFECOM), he pointed out that this organization is a relevant agent in the promotion and creation of a bankruptcy culture that helps merchants in times of financial stress. He indicated that, throughout 24 years of existence, a total of one thousand six bankruptcy procedures have been notified to IFECOM, of which 280 are active.

He highlighted that since the publication of General Agreement 4/2022 of the Federal Judiciary Council (CJF), relating to the creation, name and start of functions of the First and Second District Courts in the Matter of Commercial Bankruptcy, they They have known about matters whose debt is equivalent to more than 70 billion Investment Units (UDI’s).

He pointed out that the closure of companies due to insolvency causes losses in business capital, but above all in human capital. This situation, he said, is aggravated by mechanisms that are sometimes ineffective, both in debt recovery and in business exits, which negatively influences the perception of risk that investors and financial institutions have.

Hence, he added, the importance of specialized bodies such as IFECOM that, with their actions, contribute to counteracting the adverse effects of commercial insolvency.