Académique Documents
Professionnel Documents
Culture Documents
The Law on Commercial Contracts, when regulating the figure of the commercial
bankruptcy, is inspired by two fundamental principles: i) the principle of public interest
and ii) the principle of the conservation of the company. The first principle has its support
in Article 1 of the Commercial Bankruptcy Law, which establishes that "it is in the public
interest to conserve companies and avoid that the generalized breach of payment
obligations jeopardizes their viability"; In the same way, since the Statement of Motives it
was established that "The situation of a company that faces economic or financial
problems that threaten its survival constitutes an object of public interest".
For its part, the second principle refers to the central objective of the bankruptcy is to
preserve the company, as can be seen in the Statement of Motives where it is identified
that "the central objective of bankruptcy law is to provide the relevant regulations to
maximize the value of a company in crisis through its conservation, which protects the use
of its human elements, avoids the negative economic impact on society, caused by the
loss of a company that provides them with goods
or services, and the business effort that said company represented for its owner is
recovered ".
The word 'contest' comes from the Latin voice concursus, which means help, concurrency,
similarity, opposition of merit, knowledge to grant a position, a prize or a benefit. The
word 'mercantile' is an adjective that refers to the merchant, merchandise or trade.
Institute of Legal Research. Mexican Legal Dictionary. Tomos I and V. Editorial Porrúa /
UNAM: Mexico, 1995.