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DERIVATIVE CONTRACTS, REPO TRANSACTIONS AND NETTING IN THE LIQUIDATION PROCEDURE, LAW NO. 20.720. THE BANKRUPTCY RULE AS A TOOL FOR STABILIZING THE FINANCIAL SYSTEM AND ITS (LACK OF) RELATIONSHIP WITH THE PURPOSES AND PRINCIPLES OF BANKRUPTCY.
The work we present deals with an aspect that, despite its relevance and effects in a bankruptcy liquidation context, has not been addressed by the doctrine in Chile: the special regime of compensation of obligations arising from derivative contracts, contemplated in article 140 of Law No. 20,720. It seeks to define what is specifically compensated; what obligations are accelerated, to allow compensation; in what sense are they considered as interconnected; what type of contracts are specifically tolerated by this system and, in short, what role does the bankruptcy rule play in this, as a tool for achieving extrabankruptcy purposes. -
THE LAWFULNESS OF THE REVIVAL OF A CORPORATION DISSOLVED
This commentary analyzes a resolution of the Financial Market Commission that recognizes the legality of reactivating a corporation. This is, as far as we know, the first express statement on this matter and constitutes a key piece to understand the termination regime of a corporation and, in general, of any company with legal personality in our legal system.