Propuesta para el fortalecimiento de mecanismos preconcursales en el Ecuador.

Abstract

The Ecuadorian legal system provides for pre-insolvency tools within its insolvency framework, known as Concursos Preventivos through judicial and administrative forums. The proper design of these institutions has significant macroeconomic effects within their jurisdiction. The lack or inefficiency of these processes, as evidenced empirically, poses greater difficulties in accessing the credit market and discourages entrepreneurship and innovation. It is not surprising that the mentioned local procedures are outdated compared to other legislations, leading both debtors and creditors to be reluctant to engage in them. In light of the foregoing, this thesis aims to propose modern solutions to the criticisms raised by legal scholars regarding Ecuador's pre-insolvency regulations. These include the establishment of new pre-insolvency processes in line with international standards and the strengthening of protection mechanisms for parties involved in said processes, along with incentives for their use and extrajudicial agreements to be ratified by specialized judges in the field.