Bankruptcy Clawbacks of Preferential & Fraudulent Transfers in Mexico
Bankruptcy Clawbacks of Preferential & Fraudulent Transfers in Mexico Creditors can set aside fraudulent conveyances of their debtors by a revocatory action, also known as actio pauliana . This action is not the same if the debtor is bankrupt. There is the non-bankruptcy actio pauliana and the bankruptcy actio pauliana . Civil codes govern the former and the Bankruptcy Law covers the latter. Creditors under the non-bankruptcy actio pauliana have fewer rights and benefits than those under the bankruptcy actio pauliana . Only the creditors, creditor’s representatives, and insolvency officers are entitled to bring fraudulent conveyances actions – not the debtor or the debtor-in-possession. 1. Relation back period/retroactive date The bankruptcy adjudication ruling includes the retroactive date, which is the calendar day two hundred seventy before the date of the ruling, which is doubled for subordinated creditors. However, through an anc