Recent Developments in Dominican Insolvency Proceedings

Fernández, Mary; and Alcántara, Melba (2018)

As of February 7, 2017, insolvency proceedings in the Dominican Republic are governed by the New Insolvency Law No. 141-15 on Restructuring and Liquidation of Companies and Businesspersons (the “New Insolvency Law”).

The New Insolvency Law and the related Regulation replace the old insolvency regime, which was outdated, obsolete and only provided for the liquidation of the debtor.

The New Insolvency Law, in contrast, provides for the possibility of a debtor’s reorganization—a welcome change that should be a value-enhancing development for debtors and creditors alike.

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