LEY DE INSOLVENCIA PERSONAS NATURALES
25/01/2010
Act 1380 "for which the insolvency law provides for persons who are not traders."
The Congress of Colombia decrees: Article 1
. Purpose of Economic Insolvency Regime for Natural Person no businessman.
The insolvency regime h regulated in this Act is to allow the debtor no individual trader to claim a legal procedure that allows through a process of negotiation of debt settlement hearing court to conclude an agreement with your creditors and meet and its outstanding financial obligations regardless of their nature except those arising from maintenance obligations, or executive processes relating thereto.
economic insolvency regime will also seek always to promote good faith in commercial and financial relations of the person, not a merchant.
Article 2. Scope.
Be subject to the insolvency regime in this Act referred to natural persons not domiciled merchants in the country.
Article 3. Principles of insolvency regime for natural persons not traders.
The insolvency regime is guided by the following principles:
1. Universality: all of the debtor's assets will be linked to the insolvency proceedings, from its inception.
2. Community: All creditors of the debtor in difficulty must go to the bankruptcy process.
3. Equality: Equal treatment for all creditors who apply to the insolvency proceedings, without prejudice to of the rules on legal priority of claims.
4. Efficiency: Maximizing the results of the insolvency proceedings, in real and material of both the debtor and its creditors.
5. Speed: Brevity in the terms provided in the insolvency proceedings.
6. Transparency: The debtor must provide the information requested by the conciliator or the judge as appropriate, timely, transparent and comparable, allowing access to it at every opportunity the procedure. For its part, the creditor must provide the insolvency proceedings all the information related to credit, interest and collateral.
7. Good Faith: The actions during the insolvency proceedings shall be vested with the good faith of both the debtor and creditors and other parties involved who will have no further bargaining issue, and informed public in relation to the debts and assets of the debtor.
8. Advertising: Timely dissemination of start of insolvency proceedings and the outcome of the negotiation process and for debt payment agreement or failure, as the case for the public interest.
9. Balance: We protect the rights of the debtor and the creditor to enable equal access to insolvency proceedings.
10. Simplicity: The process should be simple and easy, oblivious to the litigation, clear, precise and brief in stages and in the process.
11. Prevalence of fundamental rights: During the course of the insolvency proceedings prevail fundamental constitutional rights and the substantive law on the trial.
Section 4. Economic insolvency cases.
For the purposes specified in this Act shall mean the natural person may invoke the merchant no insolvency proceedings referred to in this Act, when as a debtor is in default status.
The debtor is in default when a default on payment of two or more obligations for two or more creditors more than ninety (90) days, or were studying the claims against one or more enforcement or coercive jurisdiction demanding the payment of any of its obligations. First Paragraph
. In any case, the percentage value of the obligations or claimed default or coercive judicial mind must represent not less than fifty (50%) percent of total liabilities by the debtor as of the date of the financial statements of the application accordance with the provisions for the purpose of this Law
Second Paragraph. For all purposes of this Act, are excluded from the computation of the right to vote and the percentage for determining the cessation payments, credits for the spouse or permanent companion: debtor or their relatives in the fourth degree of consanguinity, marriage or the first second civil. That horn also claims by companies controlled by any of them.
Article 5. Jurisdiction of the Facilitators.
case of natural persons non-commercial debtors, to initiate the request for insolvency proceedings may be made to any of the Mediation Center of domicile of the debtor, who are duly authorized by the Ministry of Interior and Justice, including the Notaries and they operate under the terms established by Law 640 2001 and other rules that modify or add.
the councils of the powers conferred by subsection 30 of section 116 of the Constitution, have jurisdiction over insolvency proceedings. However, when the proceedings in insolvency situations arise that exceed the powers or the powers conferred by law the Conciliator, the situation will be resolved through the process step verbal summary only pending before the Municipal Civil Court of the domicile of the debtor.
Article 6. Jurisdiction of the Civil Jurisdiction.
will know, in a single instance of contentious disputes under this Act, the Municipal Civil Judge the domicile of the debtor through the process verbal summary in the following cases:
a) When so filed this Act by developing situations of insolvency proceedings in excess of powers or the powers conferred by law the Conciliator.
b) If the payment agreement resulting from the insolvency proceedings is challenged. Civilian judges should give priority to the insolvency proceedings will be made known on other processes in civil matters affect them.
Paragraph 1. Municipal Civil Judge who knows the first of the controversies arising in proceedings under this Act shall hear how deprivation of all other disputes arising during the processing or execution of the agreement. At these events there will be no deal.
Paragraph 2. The public prosecutor may be present throughout the insolvency proceedings, and must do so in cases that are discussed coercive jurisdiction obligations or claims of food.
Section 7. Free.
The procedures inherent in insolvency proceedings are held before public officials the power to reconcile, to balance centers of legal clinics in law schools and public entities are free. Notaries and private conciliation centers may charge for their services in accordance with the fare set by the Government.
Section 8. Rate Center "Conciliation paid.
The national government will regulate the context within which the conciliation centers paid, the lawyers on these and notaries will set the rates for the provision of conciliation service. In any case, the calculation of costs are taken into account the total amount oh ligations by way of principal and income of the debtor.
Section 9. Powers and Duties of the Conciliator.
For purposes of this Act, the Adjudicator shall have the following powers and duties, without prejudice to other provisions:
1. Quote of the debtor and its creditors in accordance with the provisions of this Act
2. Quote writing who, in his opinion, should attend the hearing.
3. Illustrate those appearing on the object, scope and limits of the insolvency proceedings, the process of debt negotiation and agreement of payments.
4. Check insolvency cases under this Act and providing all the information that according to the same due by the debtor.
5. Request information it considers necessary for the proper orientation of the debt negotiation process.
6. Act as conciliator in the proceedings de insolvencia.
7. Motivar a las partes para que presenten fórmulas de arreglo con base en la información financiera del deudor y la propuesta de negociación presentada por el mismo en la audiencia.
8. Velar porque et acuerdo de pagos al que lleguen el deudor y sus acreedores, cumpla con los requisitos de celebración y contenido exigidos en la presente Ley y formular las propuestas de arreglo que en ese sentido, estime necesarias, dejando constancia de ello, en el acta respectiva.
9. Levantar las actas de las audiencias que se celebren en desarrollo de este procedimiento y llevar el registro de mismas.
10. Registrar el acta de la audiencia de conciliación de conformidad con lo previsto en esta Ley.
11. Certificar el fracaso negotiation, conclusion of the agreement and the declaration of compliance or breach thereof.
12. Based on information submitted by the debtor in the petition and other evidence submitted during the processing, production e! project rating and ranking of debts in accordance with the provisions on priority of claims in the title XL Book Four of the Civil Code and other laws that modify additions. Paragraph
. Adjudicator is the duty of ensuring that rights are not undermined certain and indisputable, and the minimum rights and constitutionally protected intransigibles.
Title II of the Insolvency Procedure Chapter II Step
Debt Negotiation Article 10 °. Application Requirements Step Debt Negotiation. The application process
debt negotiation may be submitted directly by the debtor or by proxy, which is understood to made under penalty of perjury, and she must attach the following documents:
1. A report indicating the precise causes that lead to insolvency.
2. The proposal for the negotiation of debt that must be clear, explicit objective, established in accordance with its heritage status and its past wealth and credit.
3. A complete and updated of all creditors, in order of priority of debts which states the title XL in articles 2488 and following of the Civil Code, including the name, address and each of them, email address, amount and nature of claims , interest rates, documents containing, when granting credit and expiry, name and address and address of the office or dwelling place of the co-debtors or guarantors guarantors. Failure to know some information, the debtor must declare it.
4. A complete and shaved of its assets, including those held abroad, indicating values \u200b\u200band data necessary for identification and the details of the charges, encumbrances and precautionary measures that weigh on them and a list of assets it has sold or transferred to any degree within six CIE (5) months prior to the application of the insolvency proceedings.
5. An account of the proceedings and laughs any procedure or administrative action for property or later the debtor filed against him, stating the court or the office where they are located and their current status.
6. Certificate issued by an independent public accountant, which also to acknowledge the fulfillment of the requirements under this Act in terms of maturity of the bonds, amount, ratio of overdue obligations to the total liabilities and related assets - liabilities expressly states that it is free of obstacles against the debtor.
7. Certification of the debtor's income issued by the applicant's employer where there is an existing contract or a public accountant should be employed.
8. Duly supported relationship on the amount that the amount necessary for subsistence expenses of the debtor and dependents if any.
9. Amount of obligations by paying the debtor must continue during the negotiation process for the proper conservation of property and due care of the expenses of the process.
10. Information on whether or not marital force. In the event that there has been community property, must be informed when started and when completed and if it occurred within two (2) years preceding the application of insolvency must attach a copy of the deed of settlement marital or otherwise copy of the court decision rendered in the liquidation of the conjugal partnership forward with judicial authority. In the event has been given clearance of goods without payment of a couple, also within two (2) years preceding the application for insolvency should reporting date was given, and attach the list of goods to the estimated market value that were the subject of delivery. Paragraph
1st. Face the necessary forms to fill out the information on the above literals can be downloaded electronically for free at the website of the Ministry of Interior and Justice and Conciliation Centres across the country. Paragraph
2nd. The list of creditors and assets should be made to cut the last calendar day of the month immediately preceding the application is submitted. Paragraph
3o. Statements made by the debtor pursuant to the provisions of this article shall be rendered under penalty of perjury and the application must explicitly included the statement that has not incurred any omissions, inaccuracies or errors that prevent knowing the true financial position and its ability to pay.
Article 11 °. Asset swap.
The debtor may include in its proposal to negotiate the exchange of debt owned assets as a means of partial or full payment of one or more of its obligations, in which case the Adjudicator will appoint a suitable expert to appraise the property that the debtor surrenders page in lieu of turkey to within a maximum of five (5) business days deliver its expertise on the nominated property. When the valuation of the asset exceeds the value of the debtor's obligations, it may petition the court on top of it, case e. which will receive its credit, the remaining balance or in cash or in kind, as is the case, the latter also required to mediate appropriate valuation of an expert. Paragraph
. The Government set the parameters to be taken into account in the valuation of assets, as such lists of expert appraisers will integrate targeted to provide services within the insolvency proceedings.
Article 12 °. Application Decision Processing of Debt Negotiation. Following application
the process of debt negotiation and verified compliance with the requirements, by the Adjudicator, or if corrected by the applicant within the legal, as to the deficiencies identified by the Adjudicator and costs previously incurred when the process event no later than next business day gives the filing, the Conciliator will accept it and will start the process of debt negotiation. The position of Conciliator
is mandatory acceptance within two (2) days of notification of the order, on pain of being excluded from the list. In the event that the Adjudicator is prevented and did not declare may be challenged for reasons specified in Article 150 of the Code of Civil Procedure.
Within five (5) business days following the initiation of the debt negotiation process, the debtor must submit an updated list of their obligations to the court date, which shall include their claims under the statutory priority order under the Civil Code.
The Adjudicator shall have five (5) business days to review compliance with the requirements of this Act on the request of the debt negotiation process. If this application does not comply with the requirements, the Conciliator immediately point out the flaws that have suffered and give the debtor a period of up to five (5) business days for correction.
If within the period allowed the applicant does not remedy the defects of the application will be rejected completely. Against this decision is the appeal for reinstatement to the same Adjudicator
Article 13. Incident Review.
When the Conciliator or any of the creditors note that the debtor failed to relate obligations or property, the Conciliator will officiate at the Municipal Civil Court of knowledge in accordance with Article 6 of this law so that within a verbal summary process proceedings to review the record and, if appropriate, resolve to declare failed the debt negotiation process or state breached the agreement, in which case it shall act in accordance with the provisions of this Act In this case, the executive processes that progress against the debtor, immediately continue processing.
Article 14 °. Acceptance of your Application for Processing of Debt Negotiation. Once the Adjudicator
verify compliance with the requirements of this Act in the application of the debt negotiation process and the debtor bears the costs when appropriate, the conciliator appointed by the Mediation Center will accept it and will start the debt negotiation process. Article
15 °. Step Term Debt Negotiation.
The term for carrying out the debt negotiation process is sixty (60) working days from the acceptance of the application may be extended up to thirty (30) days if so requested by the debtor and not one creditors of the appropriations included in the final list of credits.
Section 16. Effects of initiation of the Step Debt Negotiation.
After acceptance of application for the debt negotiation process suspending the payment of any interest on liabilities subject of insolvency proceedings as well as management fees, management or similar fees of any node in the creditor intends to do due to the debtor.
not be admissible or continued civil executive, restitution of property or of summary jurisdiction against the remaining debtor is entitled to invoke the nullity of the proceedings before the competent court, which is sufficient for the certification issued by the Conciliation Centre on initiation of the process of debt negotiation. If there
other defendants in the current executive processes and practice may be requested precautionary measures on property owned by those, except as provided by Article 519 of the Code of Procedure Civil.
To this end, the conciliator shall act as the day after the acceptance of application for the debt negotiation process to the judges with knowledge of the proceedings specified in the application and any other specified by the debtor or the creditor communicating acceptance of the debt negotiation process, the process being suspended from the date of filing at the competent court, the office in which the mediator communicates such acceptance. The debtor may invoke the nullity of the proceedings are met within the process after that deadline.
against co-debtors or guarantors or generally against anyone who has guaranteed obligations of the debtor, may advance civil or executive summary jurisdiction only to the practice of precautionary rocked.
In the event of failure of the process of debt negotiation or termination of the agreement for breach of the debtor and have spoken on the subject executive action of solidarity against the debtor, the claimant may bind the debtor to the corresponding process at any stage of the who understand the process connected with the simple addition of the payment order or order admisorio demand. Enacted
debtor bonding process, the action against the other defendants were suspended without prejudice to the application and practice ce precautionary measures on property owned by the other defendants and will be reported to the new commandment respondent do pay or self admisorio under the provisions of the Code of Civil Procedure, allowing it to reach the stage in which the respective procedure is compared with other defendants. The judge shall ensure the adequacy of the procedure in each case adjusted the pending action against all defendants will continue together.
When protective measures against the debtor's assets, the council sent the case to the civil judge assigned by division, who will determine whether the measure remains in force or be lifted, as appropriate to the objectives of process, on the recommendation of the Adjudicator and taking into account the urgency, convenience and necessity duly substantiated.
When the deadline set for the Adjudicator to conclude the Agreement shall inform the Judges of knowledge of judicial processes outlined in the request for negotiation with debt, the result of the insolvency proceedings, and any other specified by the debtor or creditors giving account the results of the negotiation.
Civil Judge who is familiar with which they pursue actions against the debtor by order which shall be served personally to the plaintiffs, informed the commencement of insolvency proceedings. Within a period of enforcement of that order the plaintiff may abandon the enforcement action against the debtor continues against guarantors or co-debtors without this withdrawal to pay the costs and damages to the plaintiff and the judge of knowledge inform this fact to the Adjudicator in the debt negotiation process, in order to remove the obligation of that process falls within the waiver. In this sense means added section 345 of the Code of Civil Procedure.
Natural persons or legal entities that provide public services to the debtor admitted the debt negotiation process, can not suspend the provision of those due to take credit unpaid on their behalf. If the provision was suspended, will be forced to reset, failing to respond for the damages incurred. The value of new services provided after acceptance of the debt negotiation process, will be paid preferentially.
Judge flatly declare the nullity of the proceedings in violation of assorted prescribed in the preceding paragraphs, in a car that will not appeal. Paragraph
. The expenses necessary for the subsistence of the debtor and dependents, as well as the obligations that it must continue to pay during the insolvency proceedings shall be paid in preference and not subject to system in the settlement agreement is established for other debts. The lack of this provision will lead to failure of the insolvency proceedings.
Section 17. Current Food Process Executive.
Exceptions to the above article food executive processes that are ongoing at the time the application is accepted the debt negotiation process, which will continue ahead in the manner provided by law, without any decree from suspension or lifting of the precautionary measures due to the start of the process of debt negotiation.
In the particular case of this type do processes, the applicant must be a party to the debt negotiation process and continue with the execution process food. If you arrive
themselves to release property or be a remnant of the proceeds of seized or auctioned within the executive process of food, they will be made available to the firm that has seized the remainder or the judge of which however have been displaced by the food and in any case, it shall inform the council that has the care of the insolvency proceedings.
Article 18 °. Step Notification of Commencement of Debt Negotiation.
Within five (5) days after acceptance of the process of negotiating Debt, the Conciliator, noting it will inform in writing sent by certified mail and published on the website of the Center for Reconciliation at all the creditors listed by the debtor on the acceptance of the application indicating the amount for which they were related and the date of the hearing conducted negotiations.'s debts.
When the creditor is a business or financial institution or public utilities, once it is properly served his legal representative must be present within the debt negotiation process directly or by proxy duly accredited, full and sufficient power for make decisions on applications for refinancing, repricing of time, exchange of assets, payment in kind and other alternatives that would raise the debtor in insolvency proceedings. Carried
notification in due form the legal representative of the business entity, financial and public services without his or her attorney appear to debt negotiation process, the term made its acquiescence in the decisions that are incorporated in the agreement payment as well as tacit acceptance of the other effects of it.
Article 19. Request restrictions on debt negotiation process.
The judge at the request of the conciliator failed to declare the debt negotiation process once again verify that it meets any of the following grounds and will act in accordance with the provisions of Article 33 of this law:
1. If it is demonstrated that within six (6) months prior to the acceptance of the application the debtor levied or transferred to any goods subject to title registration, according to an expert at the expense of the general pledge of creditors.
2. If the debtor shows that pretended to be separate property of your spouse or transferred to any other person the ownership of one or more of their assets representing more than ten percent 10% of total of its assets in advance of the date of application for the debt negotiation process, to insolvency.
Article 20 °. Fixing Date of Hearing Debt Negotiation.
The debt settlement hearing shall be held within twenty (20) business days after acceptance of the application and shall be effected in the same terms as Article 18 of this Law
Article 21 °. Development of the Debt Settlement Hearing.
1. As a starting point for the development of the hearing, the conciliator shall notify the creditors, the accounting of the credits and active and ask them if they agree with the existence, nature and amount of the obligations of the debtor and if you have questions or discrepancies regarding themselves or other debts. If no objections are filed, the ratio will be the final list of credits.
2. There are discrepancies, the Conciliator will urge the parties to which they require their repair. In the event that discrepancies exist regarding the existence, nature or amount of payment of a debt, the Conciliator rebuke to the parties in order to state their objection and the creditor objected to indicate the source, nature and cause of the obligation.
3. The Conciliator will encourage preserving formulas under the purpose and principles of insolvency law in development which may require the submission of documents or simple summary evidence to account for the origin of existence, amount and nature of the obligation, for which it may suspend the hearing.
4. If the resumption of the hearing, the objections are not in Council, the Council failed to declare the debt negotiation process and proceed as described in Article 27 of this Law gives
5. If there is disagreement regarding the existence, amount and nature of the obligations or objections have been reconciled, will be held to consider the proposal of the debtor.
6. The Conciliator will ask the debtor to make a presentation of the proposed payment for the care of obligations.
7. Proposal submitted by the debtor, the Conciliator shall make consideration of creditors in order to express their opinions regarding it.
8. The Conciliator will ask the debtor and creditors about the proposal and counter emerging and may make other alternative arrangements.
9. Failure to reach agreement at the same meeting provided that notice is an objective possibility of settlement, the conciliator may suspend the hearing and resume no later than ten (10) working days.
10. In any case, the proceedings shall not extend beyond the term provided in Article 15 of this Act shall be deemed otherwise failed the Debt Settlement Agreement.
Article 22 °. Suspension of Debt Settlement Hearing.
Hearing debt negotiation may be suspended as many times as necessary in the circumstances envisaged in the preceding article. In any case, the debt negotiation process can not be understood beyond the term provided for in Article 15 of this Law
The council decreed the suspension in a reasoned and considered necessary or at the request of the debtor.
Hearing will resume no later than the tenth (10) following business day to provide the documents and forward further discussion.
Article 23 °. Decision on objections.
Within five (5) working days from the date of suspension of the hearing by the existence of unreconciled objections, the debtor or the creditor may sue objectors before the City Civil Judge of knowledge, resolution of the corresponding object .
This application is implemented through the step in the process verbal summary, single-instance, which is from the accumulation of one or more objections have been filed at the time of Debt Negotiation process the same debtor, accounting for Municipal Civil Judge who has known the first objection, to know the rest.
objections against the ruling of no further recourse. In signing the relevant decision, the Hearing will resume the previous article dealing with the implementation of the adjustments has resulted in the updated Summary of Debts by the debtor, for it is deemed to be final.
Article 24 °. Payment Agreement.
The Payment Agreement is subject to the following rules:
1. Be held within sixty (60) days following the date of accepted the application for debt settlement procedure or within the period of extension required under this Act
2. Must be approved by two or more creditors representing more than fifty percent (50%) of the aggregate principal amount of debt and must have the explicit consent of the debtor. For purposes of determining most be taken into account only the capital values, without considering interest, fines or legal or conventional. In the case of debts incurred in UVR, foreign currency or any other unit of account is settled in its equivalent in pesos to cut the last calendar day of the month immediately preceding the it is claimed.
3. Must understand and bind all creditors before the date of acceptance of the application in respect of its obligations that were not covered by waivers as established by the 7th paragraph of Article 11 of this Law, even if they have not attended to Hearing or having done so have not consented to the Agreement.
4. Respect the priority and privileges set forth in the civil law and have the same treatment for all creditors of the same class or grade.
5. Since the acceptance of debt negotiation process until the conclusion of the agreement to pay or during the period provided in article 15 of this Act to carry out the negotiation, it stops the statute of limitations and do not operate the limitation of actions for claims against the debtor that is already done due before the start of that process.
6. Since the acceptance of debt negotiation process suspending the payment of interest, management fees or other payments required management inherent in the obligations under the insolvency proceedings.
term interests or the causing of arrears shall be negotiated by the creditor and the debtor, and paid for it as agreed upon in the agreement. However, when the payment agreement be signed within 60 days of acceptance of the application to the debt negotiation process, not charged penalty interest incurred during this period.
In the event that declares the failure of process or breach of the obligations agreed in the agreement, the debtor must pay interest that may have accrued since the beginning of the process until payment is made. Also, remove them and other concessions from the creditors of the debtor shall be inoperative.
7. In any case, the Payment Agreement will involve conversion of the bonds, unless otherwise expressly agreed by the debtor and each creditor individually or all creditors.
8. In case of payment in kind, exchange of assets, replacement or reduction of guarantees require the express consent of the debtor and the creditor concerned, as well as those cases in which lower the capital requirement.
9. From the audience Minutes which will be signed by the Adjudicator and the debtor. The parties may request and obtain the respective Conciliation Center contentivo copy of the agreement at any time. Paragraph
. The Agreement is subject to further reforms at the request of the debtor and creditors representing not less than a quarter of unpaid loans, application deberá formularse ante el Centro de Conciliación que conoció del Trámite inicial, acompañada de la actualización de la relación definitiva de acreedores junto con la información relativa a las fechas y condiciones en que se hubieren realizado pagos a los créditos que fueron materia del Acuerdo de pago. Aceptada dicha solicitud se procederá por parte del Conciliador que designe el Centro a convocar a Audiencia de Modificación dentro de los diez (10) días hábiles siguientes y en ella se indagará en primer término a los acreedores sobre la conformidad en torno a la indicada actualización presentada y posteriormente se someterá a consideración la propuesta de modificación que presente el deudor, for adoption and features are subject to the rules provided for in this article. If such approval is not obtained, continue in force the previous agreement.
Article 25 º. Purposes of concluding the settlement.
The payment agreement will cover any type of financial obligation incurred by the person, not a merchant, including those in which the State is entitled.
If the agreement involves affecting legal net assets subject to registration, record copy of the statement containing the Agreement, without requiring the granting of the deed. The obligations under the Agreement to be securities will be implemented in exempt from stamp duty.
When implementing the agreement will be the transfer of ownership rights given property subject to registration, simply register the award ruling on the relevant register, without giving any other document or in good standing.
The payment agreement will be considered an act with no value for purposes of stamp, notary fees, and in general all duties and taxes that may arise out of registration for the case of transfer of property, but the new buyer is obligations can be made payable to weigh on foreclosed or acquired. Once celebrated
Payment Agreement, the implementation processes and restitution remain suspended pending verify compliance with the Agreement or, conversely, lack thereof. Payment
The Agreement provides the right of execution, however the obligations contained therein may not be sued through civil proceedings pending executives explicitly declare a breach of the agreement by the conciliator appointed by the Mediation Center in which held the Payment Agreement. The foregoing is without prejudice to the securities originating in the obligations under the agreement, in which case the same process may continue directly to courts.
The agreement may provide for the payment obligation for creditors to ask the court, within five (5) business days of signing it, lifting the precautionary measures practiced within the executive proceedings against the debtor.
The obligations of the debtor from the date of acceptance of application for the debt negotiation process, it will be part of the Agreement and should be paid preferably and to the agreed conditions. However, the debtor may not provide guarantees of any kind to third parties without the consent of creditors representing more than one half of the value of liabilities. The same rule applies to the acquisition of new loans in accordance with regulations issued by the Government. Failure to comply with the provisions of this section is grounds for termination of the debt negotiation process and as a result, the creditor may use all legal mechanisms at its disposal to protect your credit.
The debtor may request the initiation of a new process, debt settlement only after six (6) years from the date of full compliance with the earlier, state certified by the Center of Conciliation and / or Information Centers Financial. If the debtor does not meet in full the agreement will not be eligible again this procedure.
Article 26 °. Effects on taxation.
1. Interest on tax liabilities administered by the DIAN. When an individual debtor not be accepted at merchant debt negotiation process under this Act, shall pay interest on arrears and pay for the obligations under the agreement of payment from the due date of the obligation and to date request the submission of the debt negotiation process following these rules:
a) In no event shall the effective interest rate of the tax liability may be less than the effective interest rate agreed highest for any of the other creditors , or less than the corresponding CPI the twelve (12) months immediately preceding the date on which the respective payments are made.
b) The interest rate of the tax liability shall be as agreed upon in the settlement agreement addressing the debtor's financial condition, for which support should be appropriate to support the negotiation of the fee.
2. Interest in case of default. When the settlement agreement done by default by the debtor and the tax liabilities have not been canceled, for all balances due on those obligations apply legal interest rate under the Tax Code, under the conditions set by DIAN.
3. Deadlines for payment of tax obligations, restructuring agreements
The time limits stipulated in the Payment Agreement for the payment of tax liabilities that are part of it, may exceed the time limits provided for in Article 814 of the Tax Code and subject to the outcome of agreement, for which support should be appropriate to support the negotiation of the fee. Paragraph
. Without prejudice to the accrual of interest and update of which Article 867-1 of the Tax Code, for making payments of tax obligations may be agreed upon grace period up to a maximum of two (2) years who will graduate in response to the amount do the debt of the debtor's financial situation and the feasibility of it, provided that other creditors agree to a grace period of not less than the tax liability, subject to the legal priority of claims.
Article 27. Failure of Negotiation.
If, within the period provided for in section 10 of article 22 is not entered payment agreement, the Conciliator shall report that fact, within three (3) business days after the date the declaration that the failure of the Agreement the judges of knowledge of the proceedings specified in the application, as well as any other to indicate the debtor or creditors, to continue the enforcement action, restitution and learning in compulsory jurisdiction against the debtor.
Creditors do upon initiation of the negotiations made no progress or refund executive processes against the debtor, are entitled to institute such proceedings, or to bind the debtor when they have been initiated against his co-debtors or guarantors of manner prescribed in this Law
Article 28. Default Payment Agreement was based on the Debtor.
If the debtor does not fulfill the obligations under the Payment Agreement, at the request of any creditor or at the request of the debtor, the Conciliator will schedule a new hearing within ten (10) business days after receipt of such request to review and study for a one-time modification of the original Agreement.
The amendment is subject to requirements of cough conclusion of the payment provided for in Article 22 of this Act and the quorum will be established based on unpaid balances cough obligations.
If you do not amend the agreement or if the amendment agreed, the debtor repeats the breach, the Council declared breached that agreement. In this case, and as envisaged in the previous article, the Adjudicator will inform the next business day before the judges Those who pursue proceedings against the debtor, in which case immediately continue executive processes and learning in restitution against it.
Where differences exist regarding the occurrence of events of default of the agreement, the creditor can sue alleged breach within ten (10) days following the conclusion of the respective hearing, the declaration of default parle Civil Judge for the debtor's home. Out of hand that will be advanced through the processing of verbal summary process in which the accumulation of other shall claims of infringement that occur on the same agreement. A related claim is accompanied A copy of the record of the hearing signed by the respective councils and a copy of the minutes containing the agreement. Against the decision he utters the City Civil Judge knowledge, only the remedy of appeal. Declared default, the judge shall communicate this decision to the Center of Conciliation in which advanced the process of negotiating, in order to proceed under the terms stated in Article 27 of this Act
Section 29. Challenging the Payment Agreement. Within two (2) months after the conclusion of any creditor before the commencement of the debt negotiation process may challenge the settlement agreement, in order to be declared invalid, which shall determine when any of the following reasons:
1. When the information submitted by the debtor to apply for debt negotiation process, would not have related or included assets or obligations to his office, or was mistakenly delivered addresses or places of location of one or more creditors who have prevented that the respective creditors were informed of the initiation of the process of debt negotiation. In the event of default on bonds or providing incorrect information on site address or location, the term 'challenge of the respective creditors shall be one (1) year from the conclusion of the settlement.
2. When such information has included debt that was not true or was unknown to the provisions of article 4 of this Act
3. When within one year prior to acceptance of the Step Debt Negotiation and before the conclusion of the agreement, the debtor has transferred or encumbered its assets representing more than ten percent 10% of total assets, according to an expert appraiser at the expense of the general pledge of creditors.
4. When the agreement does not include all creditors before the commencement of the process of negotiating, does not respect the privileges and preferences of the law or if it contains provisions that involve unequal treatment of creditors of the same class without explicit consent of the creditor or creditors involved. The impeachment process
agreement known, prevention, Civil Judge of knowledge, for the debtor's home and subjected to verbal summary process proceeding in a single instance. The same process all claims may be added that relate to the same agreement.
declared invalid, the court will inform the decision of the Conciliation Center has known Debt Negotiation Step to proceed as planned for If the negotiations fail. When the cause of invalidity falls into any of the grounds set forth in paragraphs 1 to 3, the debtor may not solicit or initiate new debt negotiation formalities within six (6) years from the date the decision becomes enforceable concerned.
Article 30 degrees. Payment Agreement for the natural person who is not a merchant farmer and / or fishing will be subject to the following special provisions:
1. Since the acceptance of application for the debt negotiation process, the debtor may request the immediate suspension of the embargo and / or abduction of a mass on the goods or products associated with their activity agricultural and / or fishing, when he so requests, express and based on the formula under which they deem necessary to comply with the settlement.
2. Just in case the debtor's assets other than real estate or fixed assets inherent in the activity of the farmer and / or fishing highlight insufficient for payment of obligations, they may be delivered by way of payment in kind.
3. In all Debt Settlement Hearing, the farmer and / or fishing shall be assisted by an expert advisor to assist agricultural slogans interests and must sign the minutes as an observer. To meet such Finally, the Ministry of Agriculture may enter into agreements with public or private entities that are within its corporate purpose to strengthen and / or improve the quality of life of the rural population engaged in farming and / or fishing. Paragraph
. Means farmer and / or fishing, that horn natural person who is principally engaged in farming and / or fisheries from which it derives its livelihood and your family. This quality is certified by the Ministry of Agriculture.
Article 31. National Agricultural Recovery Programme PRAN: The debtors of the National Agricultural Recovery Programme, Agricultural PRAN dealing 9R7 Decrees 2000, 1257, 2001, 931, 2002, 1623, 2002, 011, 2004, 2795, 2004. 2841 3749 2004 and 2006 as well as restructuring made by the decrees of 4222, 2006, 4678 3363, 2007 and 2007 may extinguish his / her obligations by paying in cash within one year following the entry into force this Act, whichever is the greater of thirty percent (30%) of the initial balance of the obligation to charge the aforementioned programs, at the time of purchase, and value FINAGRO paid at the time of acquisition obligation in question. First Paragraph
. Notwithstanding the foregoing, those debtors who have made subscriptions to capital, may terminate its obligations canceling the difference between pre-made fertilizers and the value above. Second Paragraph
. To qualify for the requirements of this Act, the debtor must present proof of concept of life insurance fees, expenses, court costs, the latter where it has been brought against them the collection of duties. Third Paragraph
. FINAGRO, or the trustee or creditor of all obligations of PRAN programs should refrain from further its judicial recovery period of one (1) year contact from the enactment of this Act, a term which is understood within also suspended the processes that have been initiated and as requiring such obligations under the Civil Law. The foregoing is without prejudice to the processing of the cases, bankruptcy.
Article 32. Powers of attorneys and representatives.
In cases where the debtor or the creditor contributes to the debt negotiation process by proxy, it must be duly authorized attorney and shall be empowered to render any kind of decisions that apply to their principal.
Article 33 °. Criminal Responsibility.
Without prejudice to other rules will be punished with imprisonment of one (1) to six (6) years, who in an insolvency proceeding knowingly:
1. Provide data certify financial statements or notes, or the state inventory or list of creditors, knowing that such documents do not include all creditors, excluding any debt they true or any assets or debts or creditors include exist contrary to reality.
2. Order, tolerate or cover up misrepresentations made in documents delivered to the development of insolvency proceedings.
3. Request, without being entitled to it, be taken as creditors, or otherwise make serious errors in the Conciliator or the judge.
4. Finjan separation of assets, dissolution or liquidation of the conjugal partnership in order to transfer property or insolvency of mode.
When the Adjudicator or Judge detect any of these behaviors, you must declare the failure of the insolvency proceedings and submit copies of all proceedings to the Attorney General's Office to initiate criminal investigation respective him.
Article 34 °. Monitoring and recording.
The Ministry of Interior and Justice as the entity responsible for maintaining the control and registration of conciliation centers, will sponsor and provide for the creation of a website in which all places of settlement record the debt settlement procedures that are supported by the respective center, reporting the start date, pending status, date of the Agreement and an abstract or executive summary.
Article 35. Credit Information
The Conciliator shall report immediately to the Financial Information Centers, the acceptance of debt negotiation process, and the breach or the payment agreement reached between the debtor and its creditors. The handling of such information shall be in accordance with the provisions of Act 1266 of 2008 or the law of habeas data.
Article 36 °. Training.
The National Government shall make arrangements to ensure that all the country facilitators receive ongoing training on the insolvency proceedings for individual non-trader. Article
37 °. Disclosure.
The national government through institutional programs of television and the official websites of public entities that comprise it permanently disclose the financial insolvency for the individual non-trader, how to qualify, its benefits and effects.
Article 38 °. Reference standard.
In case of doubt or regulatory vacuum may invoke the provisions on civil and civil procedure in force. The rules laid down in this Act shall prevail over any other rule of ordinary character, including of a tax that is contrary.
Article 39. Article 67 of Law 1116 will, like this:
Article 67. Promoters or liquidators:
begin the process of insolvency, the bankruptcy judge, as appropriate, the promoter or liquidator appointed, as an auxiliary of justice, chosen from the list compiled for the purpose by the Superintendency of Companies.
At any time, creditors representing at least sixty percent (60%) of the credits, and qualified graduates may replace the liquidator appointed by the court, choosing the replacement of the list referred to in the preceding paragraph, who shall take possession before that. This also applies to the promoter when acting as representative legal para efectos del acuerdo de adjudicación.
Adicionalmente, los promotores y liquidadores podrán ser recusados o removidos por el juez del concurso por las causales objetivas establecidas por el Gobierno.
El promotor o liquidador removidos en los términos de la presente ley, no tendrán derecho si no al pago mínimo que para el efecto determine el Gobierno, teniendo en consideración el estado de avance del proceso
Una misma persona podrá actuar como promotor o como liquidador en varios procesos, sin exceder un máximo de tres (3) procesos en que pueda actuar en forma simultánea.
Parágrafo 1. La lista de promotores y liquidadores de la Superintendencia de Sociedades será abierta y a ella ingresarán all persons who meet the minimum requirements of experience and professional suitability for the purpose by the Government.
Paragraph 2. Except in cases in which the company lacks sufficient assets and require a minimum payment, the remuneration of liquidators shall not exceed six percent (6%) of the value of the assets of the insolvent company. For developers the value of fees may not exceed point two percent (0.2%) of the value of the assets of the insolvent company, for each month of negotiation.
Article 40 °. Delete the first paragraph of Article 19 of Law 1116.
Article 41. Effect. This Act shall take effect from the date of its publication in the Official Journal and repealing all provisions which are contrary. System standards established by this Act shall prevail over any other rule of ordinary character, even of a tax nature that is contrary.
(Signed) Javier Cáceres Leal,
Honorable President of the Senate. OTERO RAMON EMILIO
Dajuda,
Honorable Secretary General of the Senate.
EDGAR ALFONSO GOMEZ ROMAN,
President of the Chamber of Representatives.
JESUS \u200b\u200bALFONSO RODRIGUEZ CAMARGO,
Secretary General of the Chamber of Representatives.
Republic Colombia - National Government published and complied
Given in Bogotá, DC, 01/25/2010.
(Signed) ALVARO URIBE VELEZ, President of the Republic
.
Fabio Valencia Cossio,
Minister of Interior and Justice. Oscar Ivan Zuluaga
ESCOBAR,
Minister of Finance and Public Credit. Dario Fernandez
ANDREW ACOSTA,
Minister of Agriculture and Rural Development. Avier
RICARDO DUARTE DUARTE,
Business Development Deputy Minister in charge of the functions of the office of Minister of Commerce, Industry and Tourism. LORD
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