Peru insolvency acquisition
Acquiring a distressed Peruvian company or its assets from a US vantage point requires navigating two distinct legal systems simultaneously. Law Offices of SRIS, P.C. is a US law firm founded in 1997 that assists clients with the US-law dimensions of cross-border insolvency acquisitions, including structuring the purchase, conducting US-side due diligence, and coordinating with Peru-admitted counsel on the Peruvian-law components. For Peru-law matters, the firm works with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar; that role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. All US-law aspects are handled by Mr. Sris and the US-admitted attorneys of the firm.
What This Cross-Border Practice Area Covers
A Peru insolvency acquisition involves purchasing a financially troubled Peruvian entity or its assets, often through a court-supervised restructuring or liquidation proceeding under Peruvian law. From the US side, the transaction may be structured as an asset purchase, a stock purchase, or a merger, each with distinct US tax, securities, and regulatory implications. The US buyer must evaluate the target’s liabilities, including any US-facing obligations, while the Peruvian-law process determines how the sale is conducted and what protections exist for creditors.
The Peruvian insolvency framework is governed by the Ley General del Sistema Concursal (Law No. 27809) and its regulations, which provide for reorganization (reestructuración) and liquidation (disolución y liquidación) proceedings. A US acquirer typically works with a Peru-admitted attorney to understand the procedural posture, creditor priorities, and the scope of the insolvency administrator’s authority. On the US side, the acquisition may trigger filings under the Securities Exchange Act of 1934 if the buyer is a public company, or require review by the Committee on Foreign Investment in the United States (CFIUS) if the target has US operations. The firm’s role is to manage the US legal workstream while ensuring seamless coordination with the Peru Of Counsel.
How Mr. Sris and His Of Counsel Network Handle These Matters
Mr. Sris and the firm’s Of Counsel network divide the work along jurisdictional lines: US-admitted attorneys handle all US-law aspects, and the Peru-admitted Of Counsel handles the Peruvian-law side. This division is not merely administrative; it is required by the rules governing the unauthorized practice of law. Mr. Sris, admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York, oversees the US components—drafting and negotiating the purchase agreement under US law, advising on US regulatory compliance, and coordinating with US tax and accounting professionals. Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, advises on the Peruvian insolvency proceeding, the validity of the sale under Peruvian law, and the transfer of Peruvian assets.
The collaboration is structured so that each attorney works within their licensed jurisdiction. The firm does not opine on Peruvian law, and the Peru Of Counsel does not opine on US law. The firm facilitates communication between the two sides, ensuring that the US purchase documents align with the Peruvian court-approved sale terms and that any cross-border security interests are properly perfected under both legal systems. This approach allows the client to receive integrated counsel without any single attorney practicing outside their admission.
About Mr. Sris and the firm’s Of Counsel Network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., is a former prosecutor admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He founded the firm in 1997 and has built a practice that serves international clients with US legal needs. Mr. Sris testified before the Virginia House Courts of Justice Committee in support of 2019 HB 635 (chief patron Del. David Bulova), the bill that became the 2019 revision to Va. Code § 20-107.3(g). His experience includes complex cross-border transactions, and he serves as the responsible US attorney for all the firm’s content.
For Peru insolvency acquisitions, the firm’s Of Counsel network includes Martín Mayandía, who is admitted to practice law in Peru (2009) and not admitted in any US state bar. Mr. Mayandía’s practice is limited to matters of Peruvian law and to serving as a liaison for international clients with the US-admitted attorneys of the firm. Mr. Sris and his Of Counsel bring extensive combined legal experience across US and foreign jurisdictions. The firm’s US principal location is in Virginia, by appointment only; the firm holds no location in Peru.
Frequently Asked Questions
What is a Peru insolvency acquisition?
A Peru insolvency acquisition is the purchase of a financially distressed Peruvian company or its assets, typically through a court-supervised proceeding under Peruvian insolvency law. The buyer may acquire the target as a going concern or purchase specific assets free of certain liabilities. The transaction involves both Peruvian-law procedures—governed by the Ley General del Sistema Concursal—and US-law considerations such as tax structuring, securities compliance, and cross-border due diligence. Because the legal frameworks differ, the buyer needs counsel admitted in each relevant jurisdiction.
Do I need both a US-admitted attorney and a Peru-admitted attorney for this type of acquisition?
Yes, a cross-border insolvency acquisition requires separate counsel for the US-law and Peruvian-law components. A US-admitted attorney handles the purchase agreement, US regulatory filings, and US tax analysis. A Peru-admitted attorney advises on the Peruvian insolvency proceeding, the validity of the sale under Peruvian law, and the transfer of Peruvian assets. Law Offices of SRIS, P.C. provides the US-side representation and coordinates with Martín Mayandía, Of Counsel, who is admitted in Peru (2009) and not admitted in any US state bar, for the Peruvian-law work. This division ensures compliance with unauthorized-practice-of-law rules in both countries.
How does the firm handle the division between US law and Peruvian law?
The firm maintains a strict jurisdictional separation: Mr. Sris and the US-admitted attorneys handle all US-law matters, and the Peru Of Counsel handles all Peruvian-law matters. The two sides collaborate on strategy and document coordination, but each attorney works exclusively within their licensed jurisdiction. The firm does not opine on Peruvian law, and the Peru Of Counsel does not opine on US law. This structure protects the client from the risks of unauthorized practice and ensures that each legal issue is addressed by an attorney qualified to handle it.
What US regulatory issues should I consider when acquiring a distressed Peruvian company?
US regulatory considerations may include securities law compliance, CFIUS review, anti-money laundering requirements, and US tax implications. If the buyer is a US public company, the acquisition may require disclosure under the Securities Exchange Act of 1934. If the target has US operations or assets, the transaction could be subject to review by the Committee on Foreign Investment in the United States (CFIUS). Additionally, the Bank Secrecy Act and related anti-money laundering rules may apply to the flow of funds. The firm advises on these US-law issues as part of the acquisition process.
What should I bring to an initial consultation about a Peru insolvency acquisition?
For an initial consultation, it is helpful to provide any available information about the target company, the Peruvian insolvency proceeding, and your acquisition objectives. Relevant documents may include the Peruvian court order opening the insolvency proceeding, the insolvency administrator’s reports, a list of the target’s assets and liabilities, and any existing purchase offers or term sheets. The firm will review the US-law aspects and, with your consent, engage Martín Mayandía, Of Counsel, to assess the Peruvian-law posture. Consultations are by appointment; contact Law Offices of SRIS, P.C. at (888) 437-7747.
Can the firm help if the Peruvian target has US-based creditors or operations?
Yes, the firm can address the US-law implications of a Peruvian insolvency acquisition that involves US-based creditors or US operations. US creditors may have rights under the US Bankruptcy Code or other federal statutes that affect the transaction. If the target has US subsidiaries, assets, or contracts, the acquisition may require US-law due diligence and separate US closing mechanics. The firm’s US-admitted attorneys handle these issues, while the Peru Of Counsel manages the Peruvian-law side. The two workstreams are coordinated to achieve a unified closing.