Peru restructuring lawyer
Businesses with operations spanning the United States and Peru face unique restructuring challenges when financial distress crosses borders. A corporate reorganization involving Peruvian subsidiaries, assets, or creditors requires coordination between US restructuring frameworks—including Chapter 11 of the U.S. Bankruptcy Code and out-of-court workouts—and Peru’s insolvency regime under Ley General del Sistema Concursal (Ley 27809), administered by INDECOPI. Law Offices of SRIS, P.C., founded in 1997, is a US law firm that assists clients with the US-law dimensions of cross-border restructurings involving Peruvian interests. Mr. Sris, Owner and Founder, is admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York. For the Peruvian-law side of a restructuring, the firm collaborates with Martín Mayandía, Of Counsel, Peru Lead, who is admitted to practice law in Peru. Mr. Mayandía is not admitted to practice law in the United States. Reach us at (888) 437-7747.
What Peru restructuring practice covers
Cross-border restructuring involving Peru encompasses both US and Peruvian legal frameworks, each operating within its own jurisdictional boundaries. On the US side, a financially distressed company with Peruvian subsidiaries may seek protection under Chapter 11 of the U.S. Bankruptcy Code, 11 U.S.C. §§ 1101–1174, or pursue an out-of-court restructuring with its US-based creditors. On the Peruvian side, the company’s Peruvian entity may need to enter a formal insolvency proceeding—a procedimiento concursal ordinario—before INDECOPI’s Comisión de Procedimientos Concursales under Ley 27809. These two proceedings, while legally distinct, intersect in practice: a US bankruptcy court’s automatic stay does not extend to Peruvian assets, and a Peruvian insolvency proceeding does not bind US creditors. Coordinating the two requires careful structuring of intercompany claims, recognition of foreign proceedings, and creditor negotiation across jurisdictions.
Cross-border restructurings involving Peru frequently implicate additional legal frameworks. The UNCITRAL Model Law on Cross-Border Insolvency provides a mechanism for recognition of foreign insolvency proceedings; Peru has not adopted the Model Law, which means a US bankruptcy court’s orders do not receive automatic recognition in Peru, and a Peruvian restructuring approved by INDECOPI does not receive automatic recognition in US courts. Recognition instead proceeds through principles of international comity and, where applicable, through ancillary proceedings under Chapter 15 of the U.S. Bankruptcy Code. The firm works with Mr. Mayandía, who is admitted to practice law in Peru and is not admitted to practice law in the United States, to address the Peruvian-law aspects of these cross-border matters.
How Mr. Sris and his Of Counsel handle cross-border Peru restructuring
Where a restructuring has a US-law dimension and a Peruvian-law dimension, Law Offices of SRIS, P.C. handles the US-law side, and the firm’s Peru-admitted Of Counsel handles the Peruvian-law side. Mr. Sris, admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York, addresses US bankruptcy court proceedings, creditor negotiations under US law, and the US tax and corporate governance dimensions of a restructuring. Martín Mayandía, Of Counsel, Peru Lead—who is admitted to practice law in Peru and is not admitted to practice law in the United States—advises on proceedings before INDECOPI, the requirements of Ley 27809, and Peruvian creditor rights. The two sides collaborate as needed but maintain strict jurisdictional separation in accordance with applicable bar rules in each jurisdiction.
A typical cross-border restructuring with Peruvian elements may involve: assessing whether the US parent company should file for Chapter 11 protection; evaluating whether the Peruvian subsidiary should initiate a procedimiento concursal ordinario or pursue a preventive restructuring (procedimiento concursal preventivo) under Peruvian law; structuring intercompany debt so that the restructuring achieves its objectives in both jurisdictions; negotiating with US-based secured lenders and Peruvian financial institutions simultaneously; and addressing the treatment of Peruvian assets, including real property, mineral rights, and operating licenses, within the overall restructuring plan. The specific procedural steps vary by case, and the applicable deadlines and requirements depend on the statutes and regulations in each jurisdiction.
About Mr. Sris and the sriscounsel Of Counsel network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., has practiced since 1997. He is admitted to practice in Virginia, Maryland, the District of Columbia, New Jersey, and New York. Mr. Sris testified before the Virginia House Courts of Justice Committee in support of 2019 HB 635 (chief patron Del. David Bulova). Through the sriscounsel Of Counsel network, the firm collaborates with foreign-jurisdiction attorneys who handle the foreign-law aspects of cross-border matters. Each Of Counsel attorney is admitted only in their home jurisdiction and is not admitted in any US state bar.
Martín Mayandía serves as Of Counsel, Peru Lead, for Law Offices of SRIS, P.C. Mr. Mayandía is admitted to practice law in Peru. He is not admitted to practice law in the United States. He advises on Peruvian-law aspects of cross-border restructurings, including proceedings before INDECOPI, Peruvian corporate governance, and creditor negotiations under the Peruvian insolvency framework. Matters involving Peruvian law are handled through Mr. Mayandía in coordination with Mr. Sris for the US-law elements of the case.
Frequently Asked Questions
What is the difference between US Chapter 11 and a Peruvian insolvency proceeding?
Chapter 11 of the U.S. Bankruptcy Code and a Peruvian procedimiento concursal ordinario under Ley 27809 are separate legal proceedings governed by different statutes, courts, and procedural rules. In a Chapter 11 case, a US bankruptcy court oversees the debtor’s reorganization under 11 U.S.C. §§ 1101–1174, with an automatic stay protecting US assets and a plan of reorganization binding US creditors upon confirmation. In a Peruvian insolvency proceeding before INDECOPI, the process is governed by Ley 27809 and its regulations; INDECOPI’s Comisión de Procedimientos Concursales supervises the proceeding, and creditor committees play a significant role in approving the restructuring plan. A company with operations in both countries may need to navigate both proceedings simultaneously. For guidance on your specific cross-border restructuring, reach Law Offices of SRIS, P.C. at (888) 437-7747.
Do I need both a US-admitted attorney and a Peru-admitted attorney for a cross-border restructuring?
Yes—a restructuring involving both US and Peruvian entities or assets generally requires counsel admitted in each jurisdiction, because each country’s insolvency framework operates independently and no single attorney is licensed to practice law in both. A US-admitted attorney handles the Chapter 11 filing, US creditor negotiations, and US court representation. A Peru-admitted attorney handles the INDECOPI proceeding, Peruvian creditor claims, and Peruvian-law compliance. Law Offices of SRIS, P.C. provides the US-admitted counsel through Mr. Sris, while Martín Mayandía, Of Counsel, Peru Lead—who is admitted to practice law in Peru and is not admitted to practice law in the United States—handles the Peruvian-law aspects. To discuss the details of your cross-border matter, contact Law Offices of SRIS, P.C. at (888) 437-7747.
Does Peru recognize US bankruptcy court orders?
Peru has not adopted the UNCITRAL Model Law on Cross-Border Insolvency and does not automatically recognize US bankruptcy court orders. Recognition of a US bankruptcy proceeding in Peru would generally require a separate judicial or administrative action under Peruvian law, often relying on principles of international comity and applicable bilateral or multilateral treaties. Conversely, a Peruvian restructuring approved by INDECOPI does not receive automatic recognition in US courts. US recognition of a Peruvian insolvency proceeding may be sought through Chapter 15 of the U.S. Bankruptcy Code, 11 U.S.C. §§ 1501–1532, which provides a framework for recognition of foreign proceedings. For a consultation on cross-border restructuring counsel, reach Mr. Sris and his Of Counsel network at (888) 437-7747.
What is INDECOPI’s role in Peruvian insolvency proceedings?
INDECOPI (Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual), through its Comisión de Procedimientos Concursales, is the administrative authority that supervises insolvency proceedings in Peru under Ley 27809. INDECOPI oversees both ordinary insolvency proceedings and preventive restructurings, evaluates creditor claims, convenes creditor meetings, and approves or rejects restructuring plans. The specific procedures, timelines, and documentation requirements are governed by Peruvian law and INDECOPI’s resolutions. The Peruvian-law aspects of an INDECOPI proceeding are handled by Mr. Mayandía, who is admitted to practice law in Peru. For guidance on your specific cross-border restructuring situation, contact Law Offices of SRIS, P.C. at (888) 437-7747.
Can a Peruvian company restructure its US dollar-denominated debt without filing for insolvency in Peru?
A Peruvian company may pursue an out-of-court restructuring of its US dollar-denominated debt, but the enforceability of any agreement depends on the governing law of the debt instruments and the jurisdictions in which creditors are located. If the debt is governed by New York law—common in cross-border lending to Peruvian entities—the restructuring negotiations and documentation are primarily a US-law matter, even though the debtor is a Peruvian entity. The Peruvian company may also need to consider whether any Peruvian-law formalities apply, including whether a procedimiento concursal preventivo under Ley 27809 could offer advantages such as binding dissenting minority creditors. Mr. Sris and Mr. Mayandía collaborate to address both the US-law and Peruvian-law dimensions of such restructurings. For a consultation on cross-border debt restructuring, contact Law Offices of SRIS, P.C. at (888) 437-7747.
What should I bring to a consultation about a Peru-related restructuring?
Relevant documents for a cross-border restructuring consultation typically include a corporate structure chart showing both US and Peruvian entities, recent financial statements for each affected entity, summaries of outstanding debt instruments with governing law and creditor jurisdictions identified, and copies of any default notices or creditor demands. Also useful are any existing intercompany agreements between the US and Peruvian entities, documentation of Peruvian assets (real property registrations, mineral concessions, operating licenses), and any correspondence with Peruvian financial institutions or INDECOPI. Organizing these materials in advance helps counsel assess the US-law and Peruvian-law dimensions of the restructuring efficiently. To schedule a consultation, reach Law Offices of SRIS, P.C. at (888) 437-7747.
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Law Offices of SRIS, P.C. attorneys are admitted to practice law in Virginia, Maryland, the District of Columbia, New Jersey, and New York. The firm collaborates with foreign-jurisdiction Of Counsel attorneys on matters involving foreign law. No attorney in the firm or its Of Counsel network practices law in a jurisdiction where they are not admitted.
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This page discusses general principles of cross-border insolvency and restructuring practice and does not constitute legal advice for any specific matter. Cross-border restructuring questions depend on the specific facts, jurisdictions involved, and current law in multiple countries. Consult an attorney licensed in the relevant jurisdiction(s) before taking any action.