TITLE: The Concept of Insolvency (Cessation of Payments, State of Default or Bankruptcy Status). A Historic and Comparative Law Analysis.

Abstract

Abstract:This paper analyzes the processes of dissemination of ideas, institutional transplantation, and monitoring of European legal models that influenced Ibero-American—particularly Argentine—Commercial Law and, specifically, Insolvency Law during the XIX and the XX centuries. The fundamental thesis of the author states the relevance and scientific legitimacy of the so-called broad thesis on the "State of Cessation of Payments" (or “State of Default” / “Bankruptcy Status”) and its legal consequences. Throughout this study, these consequences derived from this broad theory—which are part of the principles applicable to this doctrine of the “State of Default”—have been highlighted to correctly interpret the legal texts de lege lata and de lege ferenda for Argentina, other Latin-American and European jurisdictions.The working method consisted of a qualitative analysis of the legal sources of comparative doctrine, legislation, and jurisprudence - European and American - on the concept of insolvency and its founding theories.The results consist of the correct definition of the so-called "State of Cessation of Payments" or also "Insolvency", from the legal point of view and therefore the formulation of interpretations de lege lata in accordance with this concept, as well as future texts de lege ferenda.Keywords: Insolvency LawInsolvency Status (State of Default)Legal Concept of InsolvencyComparative Insolvency LawHistory of Insolvency Law