Bankruptcies in the first quarter of 2021 in Mexico.

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During the first quarter of 2021, 5 bankruptcy petitions were filed, notified and registered in the files of the Federal Insolvency Institute. 1

Dentix Mexico Health, SC (Dentix).

Dentix, the Mexican subsidiary of a Spanish holding company, filed for voluntary bankruptcy on December 28, 2020. This is an interesting case, provided that Dentix is ​​not a merchant debtor within the meaning of Mexican law. on bankruptcies. Not being a merchant debtor is sufficient to dismiss the petition in limine, yet the petition was not dismissed. However, the court can still refuse the bankruptcy award once the pre-bankruptcy proceedings have been finalized.

Financiamiento Progresemos, SA de CV, SOFOM ENR. (Progressemos).

Progresemos, an unregulated finance company that provides micro-loans, filed for voluntary bankruptcy on January 6, 2021. According to its website, Progresemos’ main lenders are Bansefi, Scotiabank, Nafinsa, ABC Capital, Financiera Nacional para el Desarrollo, Microvest, Incofin, DWM Development Word Market, FC del Banco Interamericano de Desarrollo and Kandeo Private Equity Fund.2

Siempre Creciendo, SA de CV, SOFOM ENR. (Creciendo).

Creciendo, an unregulated financial company that provides microloans to women, filed for voluntary bankruptcy on January 8, 2021. Creciendo has been in the market for over 12 years and has approximately 108,860 clients.3

Grupo Romatex de México, SA de CV. (Romatex).

Romatex, a textile and clothing company, filed a voluntary bankruptcy request in the liquidation phase on February 9, 2021.

VG Materiales, SA de CV (VG).

VG, a building materials distributor, filed for voluntary bankruptcy in the reorganization phase on February 12, 2021. VG has been in the market for over 45 years through its holder Grupo Promenosa. 4

None of the above-mentioned debtors have yet been subject to bankruptcy.

For more information on bankruptcy law in Mexico, my book “Bankruptcy Law in Mexico”, written in English, is available at https://works.bepress.com/francisco-rodrigueznepote/ 4 /, where it can be downloaded for free. You will also find a complete translation of the legal text there.

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