Carrillo & Asociados -The Ripple Effect of Guatemala's New Insolvency Law

In a significant turn for Guatemala's financial future, the Congress of Guatemala sanctioned the Insolvency Law (IL), Decree 8-2022, on February 8, 2022, as a constituent of the Economic Package of Laws instigated by the Covid-19 Crisis. This law is set to modernize the economic landscape, offering detailed rules for managing insolvency that impact individuals and businesses. This article looks at the critical features of the IL, its potential for bolstering economic resilience, and the challenges to be addressed for its successful rollout.

To read the full legal alert click on the link provided. For more information, please contact the author Ana Lucia Chavez