Santo Domingo.- The Commercial Restructuring Commission of the Dominican Federation of Chambers of Commerce (Fedocámaras) has launched the “Commercial Restructuring Observatory” along with its corresponding website, providing a platform for stakeholders to access documents and decisions issued by commercial restructuring courts across the country.
This observatory serves as a valuable tool for companies grappling with financial challenges such as debt repayment delays, as well as for financial and legal advisors, as stated in a Fedocámaras press release.
Carlos Iglesias, President of Fedocámaras, explained, “Our aim is to foster the exchange and dissemination of its content, thereby promoting the preservation of financially troubled companies benefiting from this legal framework. This contributes to our country’s development and stability by safeguarding jobs and maintaining productivity.”
Henry Molina, Presiding Judge of the Supreme Court of Justice, emphasized the significance of the observatory in providing greater legal certainty and fostering a more stable and predictable economic environment. Molina stated, “The Observatory will streamline information retrieval, enabling restructuring and liquidation process stakeholders to better prepare their cases and support their studies, ultimately aiding courts and process stakeholders.”
The Commercial Restructuring Observatory aligns with the Judiciary’s 2024 Institutional Strategic Plan’s vision to enhance transparency, accountability, and public understanding of court operations nationwide.
Marcos Troncoso, a member of the Commercial Restructuring Commission, acknowledged the entity’s crucial role in assisting and advising Fedocámaras since 2017 in call preparation and supervising evaluator, conciliator, and liquidator selection processes for Commercial Restructuring.
Pamela Benzán, the Observatory Coordinator, highlighted its user-friendly design and advanced search features, enabling easy navigation and filtering by company, document, resolution number, decision, date, and court. Benzán emphasized that the observatory would be invaluable for lawyers, businessmen, and academics, providing swift access to pertinent judicial information.
The objective of Law 141-15 on the Restructuring and Liquidation of Companies and Business Individuals is to promote the preservation of financially distressed companies under this legal framework, thereby contributing to the country’s development and stability by safeguarding jobs and productivity.