Peru insolvency lawyer
When a business or individual with ties to both Peru and the United States faces financial distress, the legal questions span two distinct legal systems. Law Offices of SRIS, P.C. is a US law firm that handles the US-law side of cross-border insolvency matters, working in collaboration with Peru-admitted Of Counsel for the Peru-law side. The firm’s US-licensed attorneys, led by Mr. Sris, advise on US bankruptcy proceedings, creditor rights, and the recognition of foreign insolvency proceedings under Chapter 15 of the US Bankruptcy Code. For matters governed by Peruvian law, the firm engages Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar; his role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. Reach Law Offices of SRIS, P.C. at (888) 437-7747 to discuss your cross-border insolvency situation.
What a cross-border insolvency practice covers
A cross-border insolvency practice addresses the legal issues that arise when a debtor has assets, creditors, or operations in more than one country. For a matter involving Peru and the United States, the US-law dimension typically includes filing a bankruptcy petition under the US Bankruptcy Code, protecting US-based assets, and pursuing or defending claims in US bankruptcy court. The Peru-law dimension may involve insolvency proceedings under the Peruvian General Law of the Insolvency System (Ley General del Sistema Concursal) and related regulations. Because the two systems operate independently, a coordinated strategy is essential to protect the debtor’s interests and to maximize recoveries for creditors on both sides.
The US Bankruptcy Code provides a specific mechanism for cross-border cases: Chapter 15. Chapter 15 allows a foreign representative to obtain recognition of a foreign insolvency proceeding in a US bankruptcy court. Once recognized, the foreign representative can seek certain relief, such as an automatic stay of US-based collection actions or the ability to examine witnesses and gather evidence. The availability and scope of relief depend on whether the foreign proceeding is classified as a “foreign main” or “foreign non-main” proceeding under the statute. The firm’s US-licensed attorneys handle Chapter 15 petitions and related US-court advocacy, while the Peru-admitted Of Counsel advises on the underlying Peruvian proceeding and coordinates with Peruvian authorities.
How Mr. Sris and his Of Counsel network handle these matters
Mr. Sris and the firm’s US-licensed attorneys manage the US-law aspects of a cross-border insolvency, and the firm engages a Peru-admitted Of Counsel for the Peru-law side. This division of responsibility respects the jurisdictional limits of each attorney’s license and ensures that the client receives advice from a lawyer admitted in the relevant country. On the US side, the firm can file a Chapter 15 petition, represent a creditor in a US bankruptcy case, or negotiate with US-based lenders and trade creditors. On the Peru side, Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, advises on Peruvian insolvency procedures, creditor priorities under Peruvian law, and the steps required to initiate or defend a concurso proceeding in Peru. The two sides collaborate as needed, but each attorney’s work is confined to the jurisdiction where they are licensed.
The process typically begins with an assessment of the debtor’s cross-border footprint: where the assets are located, which courts have jurisdiction, and whether a foreign insolvency proceeding is already pending. If a Peruvian proceeding exists, the firm can evaluate whether Chapter 15 recognition in the US would be beneficial. If no proceeding has been filed, the firm can help the client decide whether to commence a US bankruptcy case, a Peruvian insolvency case, or both, depending on the strategic goals. Throughout the matter, the firm coordinates with the Peru-admitted Of Counsel to ensure that actions taken in one country do not inadvertently prejudice the client’s position in the other.
About Mr. Sris and the sriscounsel Of Counsel network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., is a former prosecutor admitted to practice 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 and his Of Counsel bring extensive combined legal experience across multiple jurisdictions. For Peru-related matters, the firm works with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar. Mr. Mayandía’s role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. All US-law aspects of a cross-border insolvency are handled by Mr. Sris and the firm’s US-licensed attorneys.
The sriscounsel Of Counsel network is composed of independent attorneys licensed in their home countries. They are not employees of the firm and are not admitted to practice law in the United States. This structure allows the firm to offer clients a coordinated cross-border service while maintaining strict compliance with the professional rules of each jurisdiction. For a Peru insolvency matter, the client benefits from US bankruptcy counsel and Peru-law counsel working together under a single engagement framework.
Frequently Asked Questions
What is Chapter 15 of the US Bankruptcy Code?
Chapter 15 is the section of the US Bankruptcy Code that governs cross-border insolvency cases. It provides a mechanism for a foreign representative to obtain recognition of a foreign insolvency proceeding in a US bankruptcy court. Once recognized, the foreign representative may seek relief such as an automatic stay of US-based collection actions, the ability to operate the debtor’s US business, and the power to examine witnesses and gather evidence. Chapter 15 is designed to promote cooperation between US courts and foreign courts and to provide fair treatment for all stakeholders. The firm’s US-licensed attorneys can advise on whether Chapter 15 recognition is appropriate and handle the petition process.
Do I need both a US lawyer and a Peru lawyer for a cross-border insolvency?
Yes, because US bankruptcy law and Peruvian insolvency law are separate legal systems, and no single attorney is licensed to practice in both countries. A US-licensed attorney handles the US-law aspects, such as filing a Chapter 15 petition or representing a creditor in a US bankruptcy case. A Peru-admitted attorney handles the Peru-law aspects, such as initiating or defending a concurso proceeding under Peruvian law. Law Offices of SRIS, P.C. provides the US-law counsel and coordinates with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, for the Peru-law side. This division ensures that each part of the matter is handled by a lawyer licensed in the relevant jurisdiction.
How does the firm handle the division between US law and Peru law?
The firm maintains a strict jurisdictional separation: Mr. Sris and the US-licensed attorneys handle all US-law work, and the Peru-admitted Of Counsel handles all Peru-law work. The two sides collaborate on strategy and information sharing, but each attorney’s advice and court appearances are limited to the jurisdiction where they are admitted. For example, if a Peruvian insolvency proceeding is pending, the Peru-admitted Of Counsel advises on Peruvian procedural requirements and creditor priorities, while the US-licensed attorneys handle any Chapter 15 recognition petition in the US. This structure complies with the professional conduct rules of both countries and protects the client’s interests in each forum.
What should I bring to a consultation about a Peru-US insolvency matter?
Bring any documents that describe the debtor’s assets, liabilities, and legal structure in both countries. Useful materials include financial statements, lists of creditors, corporate formation documents, and any existing court filings from Peru or the United States. If a Peruvian insolvency proceeding has already been commenced, bring the court order or resolution that initiated it. The firm’s attorneys will use this information to assess the cross-border dimensions of the case and to recommend a strategy. For guidance on your specific cross-border situation, reach Law Offices of SRIS, P.C. at (888) 437-7747.
Can a US bankruptcy court protect assets located in Peru?
A US bankruptcy court’s jurisdiction is generally limited to assets located in the United States, but Chapter 15 recognition can extend certain protections to US-based assets and facilitate cooperation with the Peruvian court. The automatic stay that follows Chapter 15 recognition applies to assets within the territorial jurisdiction of the United States. For assets located in Peru, the Peru-admitted Of Counsel would advise on the steps available under Peruvian law to protect those assets. The two courts may communicate and coordinate under Chapter 15’s cooperation provisions, but each court ultimately controls the assets within its own territory. The firm’s US-licensed attorneys can explain the scope of US bankruptcy court authority in a cross-border context.
How do I engage cross-border insolvency counsel?
Contact Law Offices of SRIS, P.C. at (888) 437-7747 to schedule a consultation. During the initial discussion, the firm will evaluate the cross-border aspects of your matter and determine whether both US and Peru counsel are needed. If so, the firm will engage Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, for the Peru-law side. The engagement is structured so that the client has a single point of contact for the coordinated effort, while each attorney’s role is clearly defined by jurisdiction. Consultations are by appointment only.