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Corporate Recovery & Insolvency 2008

11/10/2008 - Por Tützer, Jorge E. y Barbarosch, Guido

Issues Arising When a Company is in Financial Difficulties:
Under Argentine law, there are two types of creditors: (i) Unsecured
creditors (quirografarios) who can seek recovery from the debtor
assets; and (ii) secured creditors (privilegiados) whose claim is
secured by specific property, and who have first claim to the
proceeds of the sale of such property. A creditor is secured only to
the extent of the value of its collateral, that is, for the outstanding
credit he will stand as an unsecured creditor.



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