Surprising fact: nearly half of viable Colombian companies that face financial distress opt for a formal reorganización to preserve jobs and operations rather than immediate liquidation.
I guide empresas across Colombia through that process with a clear, practice-based method. I assess viability, stabilize operations, and protect value while coordinating legal, financial, and operational teams.
I advise on public contracting and sanctions from day one, so a company can address insolvencia risks without losing eligibility for state procurement.
The filing path under ley 1116 can start with a debtor or a creditor and moves before the Superintendencia de Sociedades or a judicial office. Expert counsel helps avoid mistakes and maximize benefits.
First meeting deliverables: a risk map, creditor analysis, filing readiness score, and an action plan for immediate liquidity and governance controls.
Key Takeaways
- I offer a structured, results-driven approach to restructuring and reorganización in Colombia.
- Early engagement improves the odds of a successful turnaround.
- I integrate public-law compliance to protect access to state contracts.
- Clients receive clear deliverables: risk map, readiness score, and action plan.
- When liquidation is required, I coordinate orderly procedures and creditor communication via resources like liquidation guidance.
Why I Rely on the Colombian régimen de insolvencia empresarial to rescue viable companies
I turn creditor pressure into a coordinated plan that protects core value and preserves jobs. The régimen insolvencia empresarial creates a legal runway where sensible fixes can replace panic.
What makes Ley 1116 a lifeline for businesses today
The ley 1116 2006 offers concrete mecanismos to pause enforcement, renegotiate terms, and shield operations while a credible plan takes shape. This protección gives managers time to align cash, suppliers, and payroll without destructive asset runs.
My approach: preserving operations, jobs, and stakeholder trust
I build a disciplined path to a negotiated outcome. I sequence cash conservation, supplier assurance, and payroll stability while I lead creditor negociación.
I deliver weekly updates, board dashboards, and clear KPIs so creditors and public buyers see realistic progress. I also align compliance for state contracts to reduce sanction risks and keep companies eligible for public procurement during the proceso.
Reestructuración empresarial Ley 1116: scope, goals, and present-day relevance
I help Colombian companies choose the right rescue path when financial pressure threatens operations. The modern rescue regime under 1116 2006 seeks to preserve going-concern value while ensuring fair treatment of creditors.
The system offers two clear routes. Reorganización is for viable firms that need time to renegotiate debt and restructure operations. Liquidación applies when rescue is not feasible and assets must be sold to satisfy claims.
How the framework protects ongoing business activity
The régimen insolvencia pauses disruptive enforcement and gives management space to stabilize supply chains, payroll, and customer service. That protection reduces value erosion and supports employment continuity.
I sequence the procesos from filing to admission, credit verification, negotiation, and plan approval. Early diagnostics, stakeholder mapping, and credible cash scenarios are practical success factors I enforce to build creditor support and avoid unnecessary liquidation.
- Scope: a rescue-first regime to keep viable empresas operating.
- Goals: preserve value, minimize deadweight loss, and seek consensual outcomes.
- Practical focus: align operational fixes with capital restructuring and public procurement compliance.
Who can use Ley 1116 of 2006—and who cannot
I clarify which commercial traders and companies can file and which public or supervised bodies are excluded.
Who is eligible: private and mixed-capital empresas operating in Colombia may seek admission. I also include personas naturales comerciantes when they carry out commercial activity and meet the statutory tests. Branches of foreign companies with substantive Colombian operations can qualify if they present clear evidence of local activity.
Key exclusions under artículo 3
Certain entities cannot use this route. Examples include EPS, ARS, IPS, stock and agricultural exchanges, and entities supervised by the Superintendencia Financiera (except some issuers).
Public-law bodies, national or territorial industrial and commercial enterprises, public utilities, and companies with public capital follow special recovery or intervention regimes instead of this process.
| Category | Can File? | Why |
|---|---|---|
| Private companies | Yes | Standard commercial regime; eligible for restructuring. |
| Personas naturales comerciantes | Yes | Eligible when acting as merchants and proving commercial activity. |
| Supervised financial entities | No | Subject to financial regulator’s special rules and supervision. |
| Public-law entities / state companies | No | Follow administrative or special recovery frameworks. |
Practical implications
Eligibility affects timing, venue, and creditor expectations. I resolve gray areas—mixed-capital firms or regulated activities—by compiling evidence and legal analysis to support admission.
I also assess how a persona or company with state contracts must manage procurement compliance and possible inhabilidades while pursuing insolvency persona remedies. This alignment reduces the risk of admission challenges and voting disputes later on.
Key triggers: cesación de pagos and incapacidad de pago inminente
I pinpoint when payment disruption crosses legal thresholds and prepare the proof creditors and regulators will expect. Cesación de pagos exists when a company misses payment to two or more creditors for over 90 days, or faces two or more demands, and the unpaid amount reaches at least 10% of total liabilities.
I show how to evidence defaults with aging reports, demand letters, and reconciled schedules. I advise the deudor to compile creditor lists and supporting documents that prove unpaid claims exceed the 10% materiality threshold.
- I substantiate incapacidad de pago inminente with forward-looking cash-flow forecasts, market data, and operational risk notes.
- Clarity on obligaciones and disputed items reduces admission objections and speeds the proceso.
- I protect empresas with state contracts by addressing guarantees and sanction risk early.
I preserve optionality by preparing both a reorganizing plan and exit scenarios. I enforce process discipline: board minutes, legal memoranda, and cash controls plus standstill requests while admission is being assessed under the régimen insolvencia. This minimizes reputational harm and keeps strategic choices open.
Preparing your case: documents, evidence, and strategic positioning
I prioritize a single source of truth that shows creditors, timelines, and material defaults clearly. A compact, well-organized file reduces challenges when I file the solicitud with the Superintendencia de Sociedades.
Financial statements, contracts, and records that matter
Requisitos include audited or management financials, contract registers, aging of payables and receivables, tax status, and bank statements.
I prepare exhibits and a supporting index so the initial submission avoids repeated requests and speeds admission.
Proving plurality of creditors and materiality of default
I show plurality with reconciled ledgers and correspondence that documents two or more creditors and credible amounts due.
To demonstrate material default, I align aging schedules and demand letters with cash-flow forecasts and declaratory affidavits where required.
- I build 13-week cash forecasts and a short business plan to show feasibility for reestructuración.
- I coordinate with accounting teams to match ledgers to legal narratives and classify guarantees or collateral.
- For companies with state contracts, I include performance data and compliance proofs and link to liquidation guidance when relevant.
Filing before Superintendencia de Sociedades: how I guide the solicitud
Filing a solicitud before the Superintendencia de Sociedades needs a precise mix of law, numbers, and timing.
Admission criteria and timing
I prepare the dossier to match formal admission tests under the régimen insolvencia.
I time the filing to cash-flow windows and supplier cycles to reduce disruption.
Choosing reorganización vs. liquidation
I run a rapid viability test.
When feasible, I present a process reorganización plan; otherwise, I recommend an orderly exit.
This choice drives negotiation strategy and stakeholder messaging.
Verification of credits and early creditor mapping
I map acreedores by collateral, seniority, and influence.
I also set verification logistics to preempt objections and shorten delays.
- I craft the venue strategy and prepare the solicitud to meet expectations.
- I synchronize court filings with public-contract calendars to protect eligibility.
- I coordinate forecasts with financial advisors to support plan feasibility.
| Admission Item | What I Deliver | Timing |
|---|---|---|
| Formal dossier | Complete exhibits, financials, creditor list | Filed with solicitud |
| Viability test | Cash model and go-forward options | 48–72 hours pre-filing |
| Credit verification | Evidence packs and objection plan | Post-admission phase |
I manage the proceso to limit reputational and procurement risk while driving toward a consensual outcome under ley 1116.
Designing a winning proceso de reorganización empresarial
I build plans that keep operations running while improving recovery for creditors and new investors. My focus is practical: term sheets, cash discipline, and incentives that attract fresh capital.
Term sheet architecture: plazos, quitas, and payment waterfalls
I craft term sheets with realistic plazos, targeted quitas, and payment waterfalls tied to free cash flow. These schedules limit refinancing cliffs and make compliance measurable.
Operational restructuring: cash flow, governance, and controls
I embed cost resets, working-capital rules, and governance upgrades. Clear KPIs and reporting packs ensure managers and creditors track progress during the proceso.
Debt capitalization and incentives to attract new investment
I evaluate debt-to-equity conversions, new-money tranches, and warrants to align upside with recovery. I also include procurement commitments so public contracts and performance milestones stay intact. This approach supports negotiation, preserves resources, and improves the odds of plan approval under ley 1116 2006.
- Structure: classed claims and voting mechanics that reflect legal priorities.
- Incentives: investor tranches and supplier support to shore liquidity.
- Controls: covenants tied to business drivers, not only leverage.
Negotiating with acreedores: from conflict to consensus
I coordinate creditor engagement so negotiations produce realistic, vote-winning plans. I set clear timelines and data packages so talks stay focused and credible.
Building voting blocks and aligning creditor classes
I segment creditor classes and build coalitions that can carry plan votes. I run bilateral talks with large lenders and key suppliers, then translate those commitments into class-level support.
Protecting the deudor while enabling sustainable repayment
I design acuerdos that combine short-term relief with credible repayment paths. I secure standstills, interim financing protections, and performance covenants to keep operations stable during negotiation.
- I lead negociación grounded in clear data and transparent assumptions.
- I pre-wire outcomes through bilateral dialogues before formal voting.
- I integrate state creditor interfaces to protect procurement eligibility.
| Focus | Action | Benefit |
|---|---|---|
| Voting blocs | Segment classes; secure institutional support | Plan passage certainty |
| Legal alignment | Document acuerdos under regime rules | Enforceable commitments |
| Debtor protections | Standstills and covenants | Operational continuity for empresas |
Protección de activos and business continuity during the proceso
I activate legal and operational measures that stop disruptive claims and protect the business’s key assets.
My goal is to keep plants, IP, and vital contracts available so stakeholders can negotiate from a position of strength.
Stays, injunctions, and safeguarding core assets
I secure temporary stays and injunctions to pause enforcement and preserve core bienes while we prepare a credible plan under the régimen insolvencia.
I implement protective steps:
- Insulate production sites, intellectual property, and equipment from seizure.
- Maintain insurance, maintenance, and physical security to protect asset value.
- Document board decisions and conditions to meet audit and regulator expectations under the ley.
Maintaining critical contracts and supply chain stability
I prioritize continuity for suppliers and clients through interim agreements and reaffirmations that keep deliveries flowing.
Operational safeguards I deploy include:
- Reaffirmation agreements and interim supply terms to stabilize key relationships.
- Liquidity buffers and inventory rules to absorb short shocks without service loss.
- IT, cybersecurity, and contract-management protocols to protect digital and commercial assets.
These measures reduce disruption during the procesos and preserve value for empresas and creditors alike.
Liquidación judicial done right: when exit is the best outcome
I manage judicial liquidation so the process closes cleanly, recovers the most value, and leaves stakeholders with clear outcomes.
When a reorganization is not feasible, a structured liquidation protects assets and secures fair distributions for creditors. I treat liquidation as a last resort that must still honor operational, labor, and public-contract obligations.
Orderly asset sales and equitable distribution
I run competitive sale processes that aim to maximize proceeds. I appoint reputable advisors, stage auctions, and vet buyers to avoid fire-sale losses.
- I explain when a pivot to liquidación judicial preserves more value than a risky, prolonged turnaround.
- I design transparent distribution mechanics so acreedores know ranking, timing, and likely recoveries.
- I manage wind-down operations to keep records intact for claims reconciliation and to protect remaining customer relationships.
Minimizing value destruction and liabilities
I address labor, tax, and regulatory exposures early to cut residual liabilities. That reduces post-closure disputes against the company and its managers.
- I coordinate lawful closure of public procurement contracts and seek to mitigate penalties or guaranty calls.
- I rationalize resources and monetize assets to improve distributions and conserve scarce recursos.
- I report consistently to the court under ley 1116 2006 and follow the régimen insolvencia rules so outcomes are defensible and efficient.
State contracting and sanctioning: my advisory for public procurement under stress
My work bridges insolvency strategy and public procurement rules so contracts with the State keep moving. I advise companies and their teams on how to maintain performance, preserve eligibility, and limit sanction risks while a court-supervised process proceeds.
Managing contracts with the State during reorganization or liquidation
I assess each contract to see if amendment, substitution, or assignment is feasible under procurement rules and the applicable insolvency framework. I design payment plans that respect public-law limits and avoid clauses that trigger termination or guarantees calls.
Sanctioning processes risk: compliance, eligibility, and inhabilidades
I map sanctioning exposure and build compliance roadmaps that align timing with the régimen insolvencia. My goal is to protect procurement eligibility and reduce the chance of inhabilidades for the company and key personas.
Coordinating defense strategies across insolvency and administrative proceedings
I synchronize defenses before administrative entities and the insolvency court so arguments and evidence are consistent. I also integrate procurement counsel and compliance officers into the steering committee to harmonize decisions and manage cross-default risks.
- I advise empresas with contracts before Colombian entidad authorities on delivery, guarantees, and audit readiness.
- I prepare documentation trails that withstand scrutiny in insolvencia persona and corporate proceedings.
- I train management on reporting duties and escalation protocols to handle State interactions in a clear manner.
| Risk Area | Action I Deliver | Benefit |
|---|---|---|
| Contract performance | Interim delivery plans and reaffirmation agreements | Continuity and reduced termination risk |
| Sanction exposure | Compliance roadmap and inhabilidad mitigation | Preserves procurement eligibility |
| Cross-track defence | Coordinated legal strategy across court and admin forums | Consistent record and stronger negotiation position |
Practical checklists and timelines for Ley 1116 2006 processes
My checklists translate legal requirements into day-to-day tasks that finance, legal, and operations can act on immediately. I build tools that link filing duties to procurement and sanctioning checkpoints for empresas that contract with the State.
Readiness checklist before filing
- Cash forecasts (13-week and stressed scenarios).
- Creditor matrix and verification packs for the superintendencia sociedades.
- Contract inventory, performance status, guarantees, and compliance attestations.
- Governance actions: board minutes, delegation of authorities, and communication templates.
Milestones from filing to plan approval
I map target dates for filing, admission, verification of credits, negotiations, and plan voting. I assign responsibilities across legal, finance, operations, and compliance so the proceso stays on budget and on time.
| Milestone | Target | Owner |
|---|---|---|
| Filing | Day 0 | Legal |
| Admission & verification | Day 15–60 | Finance / Legal |
| Negotiation & voting | Day 60–120 | Management / Creditors |
I include templates for creditor communications, term sheets, and pago-tracking. After plan approval, I set a monitoring calendar with covenant tests and board decision gates to detect variance early and trigger remedial steps for successful procesos reorganización.
Conclusion
I present a concise roadmap that helps management choose the fastest path to durable recovery. I apply the régimen insolvencia with discipline and clear metrics so an empresa can preserve value, jobs, and procurement eligibility.
I provide end-to-end advisory: viability assessment, filing support under ley 1116 2006, creditor engagement, plan design, and execution oversight. My work also integrates public procurement and sanctioning defenses for companies that contract with the State.
Timely action improves outcomes: reorganización often saves businesses, while orderly liquidación protects creditor interests when needed. Contact me for a diagnostic session to map risks, timelines, and measurable milestones that rebuild solvency and trust.