Creditors’ Rights and Bankruptcy Proceedings
General Attendance of Credits
Debtor’s Responsibility
The debtor is responsible for fulfilling their obligations with all their assets, except those that are inalienable or exempt from attachment.
Meeting of Creditors
A meeting of creditors should occur if the debtor suspends payment of civil debts that are liquid and payable. The trial judge will declare bankruptcy through established formalities.
Debtor’s Disqualification
The debtor is disqualified from managing their assets and any other authority
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ITEM 4. REPRESENTATION AND PARTICIPATION OF WORKERS
Personnel Delegates
In firms with 10 to 49 employees, delegates jointly represent workers (Article 62 ET). If adjacent facilities reach 50 workers, a Works Committee is formed (Article 63.2 ET). Centers with up to 30 workers have one delegate; over 30, three delegates (Article 62.1). Firms with 6 to 10 workers may have a delegate if agreed by the majority (Article 62.1).
Powers: Delegates have the same powers as Works Committees (Article 62.2 ET),
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Article 24: Entry into Force
A treaty enters into force as specified in its provisions or as agreed upon by the negotiating states. If no such provision or agreement exists, a treaty enters into force upon consent of all negotiating states to be bound by it.
Article 25: Provisional Application
A treaty or part thereof is applied provisionally pending its entry into force if: a) the treaty itself so provides, or b) the negotiating states have agreed otherwise.
Observance, Application, and Interpretation
Read MoreJoint and Several Obligations in Civil Code
Joint and Several Obligations: Concept
Partnership
The term commonly used to refer to multi-member obligations is partnership. Among the distinguished joint obligations are:
- Simple
- Solidary
A joint obligation (Art. 1138 for divisible bonds and 1139 for indivisible) is a multi-member requirement in which the credit and/or debt is divided into equal parts, corresponding to the number of creditors or debtors. Credit and debts are reputed as distinct from each other.
If several debtors owe an amount to one
Read MoreInternational Private Law: Key Concepts and Principles
International Private Law
Introduction
Sociological and Legal Factors
Two key sociological factors shape international private law:
- Cosmopolitanism: This refers to the universal human desire for interaction and connection with others. Technological advancements have facilitated travel and communication, leading to a more interconnected world.
- Globalization: This ongoing process of integration and interdependence expands geographical spaces and fosters interaction among members of the international community.
Understanding Legal and Business Structures
Legal Name
In a broad sense, a legal name includes given names and surnames. It is the set of words that legally and officially identifies and designates each person. Strictly speaking, the proper name distinguishes one person from other children of the same parents. This name is given at birth and registered upon birth registration. The choice of name is left to the parents or legal guardians, provided it doesn’t hinder identification, such as names that are gender-neutral. In such cases, further
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