Colombia insolvency lawyer
When a Colombian business or individual faces financial distress with ties to the United States, the intersection of two legal systems can be daunting. Law Offices of SRIS, P.C. is a US law firm founded in 1997 that assists international clients with US insolvency matters. Mr. Sris, the firm’s founder and managing attorney, is admitted to practice in Virginia, Maryland, the District of Columbia, New Jersey, and New York. For Colombia-law aspects, the firm collaborates with Eric Duport Jaramillo, Of Counsel, who is licensed in Colombia and not admitted in any US state bar; his role is limited to Colombia-law matters and to serving as a liaison for international clients with the firm’s US-admitted attorneys. To discuss a cross-border insolvency situation, reach Law Offices of SRIS, P.C. at (888) 437-7747.
What This Cross-Border Practice Area Covers
US insolvency law provides a framework for businesses and individuals to address debt through reorganization or liquidation, and when a Colombian party is involved, the process requires careful coordination between US and Colombian legal principles. The US Bankruptcy Code (Title 11 of the United States Code) governs federal bankruptcy proceedings. A Colombian company with US assets, a US-based creditor of a Colombian debtor, or a Colombian national who has resided in the US may all need to navigate Chapter 7 liquidation, Chapter 11 reorganization, or Chapter 13 individual debt adjustment. The firm’s US-admitted attorneys handle the US-side filings, while Eric Duport Jaramillo, Of Counsel, provides insight into Colombian commercial law and the practical steps needed to coordinate with Colombian courts and authorities.
Cross-border insolvency often involves questions of asset location, creditor priority, and the enforceability of US court orders abroad. The US Bankruptcy Code includes provisions for ancillary proceedings under Chapter 15, which is based on the UNCITRAL Model Law on Cross-Border Insolvency. Chapter 15 allows a foreign representative to seek recognition of a foreign insolvency proceeding in a US bankruptcy court. The firm assists Colombian representatives in filing Chapter 15 petitions and works with Mr. Duport Jaramillo to ensure that Colombian-law requirements are addressed. Every matter is unique; the firm evaluates the specific facts and applicable law before recommending a course of action.
How Mr. Sris and His Of Counsel Network Handle These Matters
Mr. Sris and the firm’s US-admitted attorneys manage all US-law aspects of an insolvency matter, while Eric Duport Jaramillo, Of Counsel, handles Colombia-law issues and serves as a bridge between the two legal systems. When a Colombian client contacts the firm, the initial consultation identifies which jurisdiction’s law governs the key issues. If the matter is primarily a US bankruptcy filing, Mr. Sris or another US-admitted attorney takes the lead. Mr. Duport Jaramillo, who is licensed in Colombia and not admitted in any US state bar, may assist with document authentication, communication with Colombian institutions, and advice on how a US proceeding may affect Colombian assets or obligations. This division of roles ensures that each attorney works within their licensure and that the client receives coordinated counsel.
The firm’s approach is built on collaboration, not on a single attorney handling both legal systems. For example, if a Colombian corporation needs to file a Chapter 11 case in the US while simultaneously addressing creditor claims in Colombia, the US-admitted attorneys prepare the bankruptcy petition and represent the debtor in US bankruptcy court. Mr. Duport Jaramillo, Of Counsel, advises on Colombian insolvency procedures and coordinates with Colombian legal professionals as needed. The firm does not practice Colombian law; all Colombia-law work is performed by Mr. Duport Jaramillo in his capacity as an independent Colombian attorney. Clients benefit from the firm that understands both the US Bankruptcy Code and the Colombian commercial environment, without any attorney overstepping their licensure boundaries.
About Mr. Sris and the firm’s Of Counsel Network
Mr. Sris, the 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 has built a practice that serves international clients with US legal needs, drawing on decades of experience in litigation and transactional matters. 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 background equips him to handle complex US insolvency proceedings and to coordinate effectively with foreign counsel.
The firm’s Of Counsel network includes Eric Duport Jaramillo, who is licensed in Colombia and not admitted in any US state bar. Mr. Duport Jaramillo’s practice with the firm is limited to matters of Colombian law and to serving as a liaison for international clients with the firm’s US-admitted attorneys. He brings a deep understanding of Colombian commercial law and the practical realities of cross-border business. Together, Mr. Sris and his Of Counsel bring extensive combined legal experience to insolvency matters that span the US and Colombia.
Frequently Asked Questions
What is a Chapter 15 bankruptcy case?
Chapter 15 of the US Bankruptcy Code is a mechanism for recognizing a foreign insolvency proceeding in a US court and granting the foreign representative access to US courts and assets. It is based on the UNCITRAL Model Law on Cross-Border Insolvency and allows a foreign representative to seek recognition of a foreign main or non-main proceeding. Once recognized, the US court can grant relief such as a stay of US creditor actions, examination of witnesses, and the turnover of assets located in the US. The firm’s US-admitted attorneys can assist a Colombian insolvency representative in filing a Chapter 15 petition and navigating the recognition process.
Can a Colombian company file for bankruptcy in the United States?
Yes, a Colombian company that has a domicile, place of business, or property in the United States may be eligible to file for bankruptcy under the US Bankruptcy Code. The eligibility requirements are set out in 11 U.S.C. § 109. A foreign corporation that meets the statutory criteria can file a voluntary Chapter 7 or Chapter 11 case. The firm’s US-admitted attorneys evaluate whether the Colombian entity has sufficient US connections to qualify and, if so, prepare the necessary filings. Eric Duport Jaramillo, Of Counsel, can advise on how the US filing may interact with Colombian insolvency law.
How does a US bankruptcy affect assets located in Colombia?
A US bankruptcy court’s jurisdiction extends to all property of the debtor wherever located, but enforcing that jurisdiction in Colombia requires cooperation with Colombian authorities and compliance with Colombian law. The US trustee or debtor-in-possession may need to seek recognition of the US proceeding in Colombia or work with Colombian counsel to secure assets. The firm collaborates with Eric Duport Jaramillo, Of Counsel, who is licensed in Colombia and not admitted in any US state bar, to coordinate asset recovery efforts and ensure that Colombian legal requirements are met.
What is the role of a Colombian-licensed attorney in a US insolvency matter?
A Colombian-licensed attorney, such as Eric Duport Jaramillo, Of Counsel, provides advice on Colombian law, assists with document authentication, and facilitates communication with Colombian courts and agencies. He does not practice US law or appear in US courts. His role is to ensure that the Colombian-law dimensions of the matter are properly addressed while the firm’s US-admitted attorneys handle the US bankruptcy case. This division of responsibilities protects the client and complies with the ethical rules of both jurisdictions.
Do I need both a US attorney and a Colombian attorney for a cross-border insolvency?
In most cases, yes. A US-admitted attorney is necessary to file and litigate a bankruptcy case in the United States, while a Colombian-licensed attorney is needed to address Colombian-law issues such as asset tracing, creditor claims under Colombian law, and coordination with Colombian insolvency proceedings. Law Offices of SRIS, P.C. provides the US-side representation through Mr. Sris and the firm’s US-admitted attorneys, and the firm works with Eric Duport Jaramillo, Of Counsel, for the Colombia-law side. This dual-counsel approach helps ensure that no legal requirement is overlooked.
How can I reach the firm to discuss a cross-border insolvency matter?
You can contact Law Offices of SRIS, P.C. at (888) 437-7747 to schedule a consultation. The firm’s US-admitted attorneys will discuss your situation and determine whether US bankruptcy relief is appropriate. If Colombia-law issues are involved, the firm can engage Eric Duport Jaramillo, Of Counsel, to provide the necessary Colombia-law support. All consultations are by appointment only.