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Partners may agree on a voluntary dissolution of the company.
In Mexico the Federal Institute of Commercial Insolvency specialists appoints the liquidators in each bankruptcy proceeding.
What is the extent of creditors’ involvement in liquidation procedures and what actions are they prohibited from taking against the insolvent company in the course of the proceedings?
The creditors may file any kind of motion, petition, writ or appeal in order to protect their rights and challenge the liquidator’s performance and the sale of the company’s assets, rights, goods and properties.
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The liquidator will determine the amount or assets that each partner is entitled to receive as final payment for its ownership interest.
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