Analysis of regulation on trans-frontier insolvency in Latin America: Argentine and Venezuela

Abstract

This article analyzes regulation of trans-frontier insolvency in two of the main commercial partners of Colombian in Latin American scope: Argentine and Venezuela. Both countries bear in common that, by not having adopted the Model Law as proposed by the United Nations Commission on International Trade Law (UNCITL), show lack of harmonization which makes regulation difficult on this matter. In addition, their internal regulations are anachronistic and protectionist, which is against current international trend, and do not have international instruments that properly regulate trans-frontier insolvency.