Insolvency & Restructuring

Strategic counsel for creditors and debtors navigating complex restructurings. From preventive negotiations through judicial reorganization, we protect value and maximize recoveries with deep regulatory knowledge and cross-border expertise.

Key metrics:

500 +

Insolvency Matters

IDB

Consultant

World Bank

Reform Consultant

2012

Lawyer of the Year

Asset Recovery framework

Pre-Insolvency

Preventive negotiations, standstills, workout agreements.

Formal Proceedings

Reorganization, liquidation, creditor committees.

Post-Insolvency

Plan implementation, asset sales, distributions.

International Arbitration experience

Creditor Representation

  • Secured creditor strategies.
  • Committee formation and leadership.
  • Claim verification and priority.
  • Voting strategies and alliances.
  • Credit bidding and DIP financing.
  • Fraudulent transfer actions.

Debtor Advisory

  • Pre-packaged reorganizations.
  • Negotiation with creditor groups.
  • Business plan development.
  • Asset protection strategies.
  • Director and officer liability.
  • Exit financing arrangements.

Cross-Border Insolvency

  • UNCITRAL Model Law proceedings.
  • Foreign representative appointments.
  • Parallel proceedings coordination.
  • International asset recovery.
  • Protocol negotiations.
  • INSOL network coordination.

Distressed M&A

  • 363 sale equivalents.
  • Stalking horse bidding.
  • Due diligence in distress.
  • Successor liability analysis.
  • Loan-to-own strategies.
  • Distressed debt trading.

Special Situations

  • Mass tort insolvencies
  • Financial institution workouts.
  • Public entity restructurings.
  • Healthcare reorganizations.
  • Real estate bankruptcies.
  • Cryptocurrency insolvencies.

Litigation in Insolvency

  • Preference actions
  • Equitable subordination.
  • Substantive consolidation.
  • Lender liability claims.
  • Breach of fiduciary duty.
  • Plan confirmation disputes.

Colombian Insolvency framework

Supreme Court of Justice

1

Admission Request

Financial distress demonstration, good faith requirement, feasibility analysis.

Admission Request

Financial distress demonstration, good faith requirement, feasibility analysis.

2

Automatic Stay

Suspension of executions, contract protection, operational continuity.

Automatic Stay

Suspension of executions, contract protection, operational continuity.

3

Negotiation Period

4-month initial term, creditor classification, plan formulation.

Negotiation Period

4-month initial term, creditor classification, plan formulation.

4

Voting & Confirmation

Majority requirements, cramdown provisions, court approval.

Voting & Confirmation

Majority requirements, cramdown provisions, court approval.

Judicial Liquidation

1

Liquidation Opening

Failed reorganization or direct filing, trustee appointment.

Liquidation Opening

Failed reorganization or direct filing, trustee appointment.

2

Asset Inventory

Valuation process, secured creditor rights, asset preservation.

Asset Inventory

Valuation process, secured creditor rights, asset preservation.

3

Claims Process

Verification period, objections, priority determination.

Claims Process

Verification period, objections, priority determination.

4

Distribution

Waterfall payments, final accounting, entity dissolution.

Distribution

Waterfall payments, final accounting, entity dissolution.
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Critical deadlines

Colombian insolvency law has strict deadlines. Missing them can result in loss of rights, automatic liquidation, or personal liability. Early engagement is essential.

Asset Recovery & Insolvency Matters

2024

International Investment Fund v. Local Telecommunications Subsidiary

Strategic advisory on insolvency and corporate reorganization under Law 1116 for a major mobile network operator (WOM Colombia). Focused on the protection of operational assets and restructuring of complex financial liabilities in a highly regulated market.

International Investment Fund v. Local Telecommunications Subsidiary

Strategic advisory on insolvency and corporate reorganization under Law 1116 for a major mobile network operator (WOM Colombia). Focused on the protection of operational assets and restructuring of complex financial liabilities in a highly regulated market.

2024

Global Venture Capital Firm v. Multiple Financial Creditors

Asset recovery and financial crisis management arising from the insolvency of local subsidiaries. Representation in negotiations for investment value preservation and defense against third-party claims in liquidation proceedings.

Global Venture Capital Firm v. Multiple Financial Creditors

Asset recovery and financial crisis management arising from the insolvency of local subsidiaries. Representation in negotiations for investment value preservation and defense against third-party claims in liquidation proceedings.

2023

European Investor v. Infrastructure Concessionaire in Liquidation

Cross-border asset recovery proceedings regarding breaches in public-private partnership (PPP) contracts. Implementation of asset-tracing strategies to secure high-value claims. Value: USD 45M.

European Investor v. Infrastructure Concessionaire in Liquidation

Cross-border asset recovery proceedings regarding breaches in public-private partnership (PPP) contracts. Implementation of asset-tracing strategies to secure high-value claims. Value: USD 45M.

2022

Chemical Holding Creditor v. Debtor in Reorganization

Intervention in insolvency proceedings for the recovery of movable guarantees and tangible assets. Successfully excluded specific strategic assets from the liquidation estate for immediate restitution to the client.

Chemical Holding Creditor v. Debtor in Reorganization

Intervention in insolvency proceedings for the recovery of movable guarantees and tangible assets. Successfully excluded specific strategic assets from the liquidation estate for immediate restitution to the client.

2021

Energy Company v. Autonomous Trust in Liquidation

Recovery of cash flows trapped in fiduciary vehicles following the insolvency of project partners. Representation before the Superintendence of Corporations to secure the recognition of preferential credits.

Energy Company v. Autonomous Trust in Liquidation

Recovery of cash flows trapped in fiduciary vehicles following the insolvency of project partners. Representation before the Superintendence of Corporations to secure the recognition of preferential credits.

Shaping Colombia's insolvency framework

Regulatory Reform experience

Our founding partner has been instrumental in modernizing Colombia's insolvency regime:

  • World Bank Consultant: Advised on insolvency law reforms and creditor rights strengthening.
  • IDB Consultant: Developed frameworks for cross-border insolvency cooperation.
  • USAID Advisor: Designed judicial training programs for insolvency judges.
  • Legislative Contributor: Participated in drafting 2011-2013 procedural code reforms.
This unique perspective provides clients with unmatched insight into legislative intent and regulatory interpretation.

Why choose Asteri for Insolvency

Regulatory Insider Knowledge

Having helped write the rules, we understand not just the letter but the spirit of Colombian insolvency law.

Cross-Border Capability

INSOL membership and FraudNet access enable seamless coordination of multi-jurisdictional proceedings.

Full Cycle Experience

From pre-insolvency planning through post-confirmation litigation, we've handled every phase repeatedly.

Creditor & Debtor Sides

Experience representing both perspectives provides strategic advantages in negotiations.

Litigation Strength

When consensual resolution fails, our litigation expertise ensures aggressive pursuit of rights.

Academic Authority

Published author on insolvency with Wolters Kluwer. Professor at Universidad del Rosario.

Time-Critical Insolvency Counsel

In distressed situations, days matter. Early intervention dramatically improves outcomes. Contact us immediately for strategic assessment and rapid response.
Schedule urgent consultation

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Engagement process

Fee structures

We offer flexible fee arrangements tailored to matter type and client needs: hourly, fixed fee, hybrid, or contingency (for qualifying matters).

Contact information

Address:

Calle 64 A # 2-32
Bogotá 110231, Colombia

Phone:

+57 601 721 6785

Email:

info@asterilaw.com

Whatsapp:

+57 310 688 4615

Let's talk, contact us:

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Asteri Law Firm

Independent arbitration and asset recovery counsel. Boutique expertise. Global reach. Partner attention.
Information is general in nature and does not constitute legal advice. Prior results do not guarantee similar outcomes.

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Contact

Calle 64 A # 2-32
Bogotá 110231, Colombia
+57 601 721 6785
info@asterilaw.com
+57 310 688 4615
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© 2025 Asteri Law. All rights reserved.