“21 applications for bankruptcy have been submitted in 2020”
As of October 2020, 21 requests for bankruptcy have been registered in Mexico, which means that it is about to equal the 27 requests that were reported in all of 2019, of which 19 are still in process, show data from the Federal Institute of Specialists in Commercial Bankruptcies (Ifecom).
…Alejandro Sánchez Mújica, senior counsel at Thompson & Knight LLP, said that the bankruptcy is not a process for bankruptcy, but to save companies to be able to negotiate with their creditors and to have alternatives to get ahead.
“It is a protection mechanism for companies to overcome difficult times and to be able to get ahead, it is a support not a stigma. Now with the current circumstances of the pandemic, it is alien to the companies, you cannot speak of a failure in the administration or the objectives of the companies ”, he commented.