Contributor供稿：秘鲁Rodrigo, Elías & Medrano律师事务所

Chinese Translation中文翻译：锦天城 王良 律师

China is Peru's main trading partner, the largest destination of exports and the main source of imports for Peru. Peru is China's second largest investment destination in South America. The two countries have established a comprehensive strategic partnership and signed a free trade agreement. In the next five to 10 years, Peru will become another destination for Chinese enterprises going global. More Chinese companies will enter Peru and expand into the broader South American market through Peru. AllBright Law is actively exploring the legal service market in South America, providing reliable host country legal service resources and doing legal research on various host countries for Chinese enterprises going to South America, so as to provide legal protection for serving China's high-level opening-up and the "the Belt and Road" strategy. To this end, AllBright Law, together with Rodrigo, El í as &Medrano Law firms in Peru, launched this Series of Articles on Peru Business Environment, including Peru's going global, Peru's corporate structures, Peru's promotion of investment and legal stability, operational legal environment, business winding up and restructuring a business.

中国是秘鲁的主要贸易伙伴，是秘鲁第一大出口目的地国，也是秘鲁主要进口来源国。秘鲁是中国在拉美的第二大投资目的地。两国之间既建立全面战略伙伴关系，又签署了自由贸易协定。未来五到十年，秘鲁将成为中国企业出海的另一片热土，中国会有更多企业走向秘鲁，并通过秘鲁走向更广阔的南美洲市场。锦天城积极开拓南美洲法律服务市场，向出海南美洲的中国企业提供可靠的东道国法律服务资源和做好国别法律研究等工作，为服务中国高水平对外开放和“一带一路”战略提供法律保障。为此，锦天城联合秘鲁Rodrigo, Elías & Medrano律师事务所，推出《秘鲁营商环境》系列文章，介绍秘鲁走向世界、秘鲁公司架构、秘鲁外国投资促进和法律稳定性、企业运营法律环境、停业和企业重整等内容。

1. Dissolution / Liquidation解散/清算

The LGS Law (General Corporations Law) sets forth the grounds and procedures for dissolution and liquidation of corporations and companies in general. However, certain entities, such as financial entities, must apply specific liquidation regimes, based on their particular activity.

《公司法通则》（LGS）规定了公司及一般企业解散和清算的事由与程序。然而，某些实体，例如金融机构，必须根据其业务性质适用特定的清算制度。

(1) Dissolution 解散

The dissolution of a corporation under the LGS may be decided voluntarily by its shareholders at a general meeting.

根据《公司法通则》（LGS），公司解散可由股东在股东大会上自愿决定。

The shareholders can freely decide the voluntary dissolution of a corporation under the LGS, the agreement taken by the general meeting of shareholders being sufficient for this purpose, without any legal or statutory cause.

根据《公司法通则》（LGS），股东可自由决定自愿解散公司，为此目的，股东大会通过的决议即足以生效，无需任何法定或章程规定的事由。

However, a corporation will be obliged to dissolve if any of the causes laid down in article 407 of the LGS is established.
但是，如果出现《公司法通则》（LGS）第407条规定的任何解散事由，则公司必须解散。

The board of directors or, failing this, a shareholder, partner or manager shall convene a general meeting of shareholders within a maximum period of thirty days in order to take the dissolution agreement or appropriate measures to overcome the cause of dissolution.
董事会，或在董事会未能履职时，任何股东、合伙人或经理人，应最迟在三十天内召集股东大会，以通过解散决议或采取适当措施消除解散事由。

Notwithstanding the foregoing, the shareholders may freely decide on the voluntary dissolution of a corporation under the LGS, the agreement taken by the general meeting of shareholders is sufficient without any statutory legal cause.
尽管有上述规定，根据《公司法通则》（LGS），股东可自由决定自愿解散公司，股东大会通过的决议即足以生效，无需任何法定事由。

Finally, it is worth noting that although corporations are run by the shareholders and its governing bodies, the Peruvian Government may compel the company to continue its activities due to reasons of national security or public necessity, even if the dissolution has been agreed.
最后，值得注意的是，尽管公司由股东及其治理机构管理，但秘鲁政府出于国家安全或公共利益的理由，可强制公司继续运营，即使公司已决议解散。

(2) Liquidation 清算

The liquidation process is initiated as an immediate consequence of the decision to dissolve the company, which maintains its corporate existence until the liquidation process is completed and the extinction is recorded in the Public Registry.
清算程序作为解散决定的直接后果立即启动，公司法人资格仅为清算之目的存续，直至清算程序完成且注销登记载入公共登记处。

The liquidation process is conducted by one or more liquidators, individuals or legal entities, designated by the shareholders' meeting.
清算程序由股东大会指定的一名或多名清算人（自然人或法人）负责进行。

Liquidators must keep the shareholders informed regarding the financial situation statements of the company and on the development of the liquidation process. It's important to notice that the remaining assets cannot be distribute between shareholders before corporate creditors are completely paid off.
清算人必须向股东通报公司财务状况报告和清算程序的进展。重要的是，在公司债务（指清算中确认的债务）全部清偿完毕之前，剩余资产不得在股东之间分配。

Once the remaining social assets (if any) have been distributed, the liquidators will request the extinction of the company before the Public Registry. Once the extinction is declared, if there are pending debts to creditors, they will be able to assert their credits against the shareholders, but only up to the amount of the remaining assets distributed thereto in the liquidation process.
一旦剩余资产（如有）分配完毕，清算人将向公共登记处申请注销公司。公司一经宣告注销，若仍有对债权人的未偿债务，债权人可向股东主张其债权，但仅以该股东在清算过程中所分得的剩余资产数额为限。

2. Insolvency / Bankruptcy / Restructuring 无力偿债/破产/重组

All insolvency, bankruptcy and restructuring processes involving companies or individuals who are Peruvian residents and perform business activities are regulated by the General Bankruptcy Law and complementary regulation. Banks, insurance companies, private administrators of pension funds, autonomous estates and government bodies (ministries, tax authorities, local governments as municipalities and other similar) are not subject to this law.
所有涉及身为秘鲁居民且从事商业活动的公司或个人的无力偿债、破产和重组程序，均受《普通破产法》及配套法规的监管。银行、保险公司、养老基金私人管理人、自治财产管理机构和政府机构（各部委、税务机关、市政等地方政府及其他类似机构）不适用本法。

INDECOPI (National Institute for the Defense of Competition and Protection of Intellectual Property), through its Bankruptcy Procedures Commission, is the government administrative agency with exclusive and mandatory competence over insolvency or bankruptcy matters.
国家竞争保护和知识产权保护局（INDECOPI）通过其破产程序委员会，是处理无力偿债或破产事务的政府行政机构，拥有专属和强制管辖权。

The General Insolvency Law establishes two types of procedures: (i) preventive bankruptcy procedure and (ii) ordinary bankruptcy procedure.
《普通破产法》确立了两类程序：(1) 预防性破产程序和 (2) 普通破产程序。

The preemptive bankruptcy proceeding shall only be initiated at the request of the debtor when its accumulated losses, after deduction of the reserves, are less than one third of the paid-in capital stock and do not have more than one third of its obligations due and unpaid for a longer period to 30 days. Through this procedure and with the approval of the creditors' meeting of the Global Refinancing Agreement, the debtor can obtain a rescheduling of their debts, lower interest rates and other financial benefits.
预防性破产程序仅应在债务人请求时启动，前提是其累计亏损（扣除准备金后）低于实缴股本的三分之一，且未偿逾期债务（逾期超过30天）未超过其债务总额的三分之一。通过此程序，并经债权人会议批准《整体重组协议》，债务人可获得债务展期、降低利率及其他财务优惠。

The ordinary bankruptcy proceeding may be filed by the debtor (voluntary petition) when it has losses in excess of one-third of its paid-in capital, or past due obligations in excess of one-third of the debtor's total liabilities for a period longer than 30 days. Bankruptcy can also be initiated by creditors (involuntary petition) when their credits exceed 50 tax units (UIT), and are past due for more than 30 days. The ordinary bankruptcy proceeding seeks to provide an orderly scenario to allow creditors to decide whether to restructure or liquidate the estate's debtor.
当债务人亏损超过其实缴股本的三分之一，或逾期债务超过其总负债的三分之一且逾期超过30天时，债务人可申请（自愿申请）普通破产程序。当债权人的债权超过50个税务单位（UIT）且逾期超过30天时，债权人也可启动（非自愿申请）破产程序。普通破产程序旨在提供一个有序的框架，使债权人能够决定是重组还是清算债务人的财产。

The creditors' meeting is formed by all creditors who hold claims against the debtor, duly recognized by INDECOPI. In the ordinary bankruptcy proceedings (the one of more general use) the creditors' meeting decides about the debtor's destiny, whether opting for its restructuring or its liquidation, depending on the viability or not of the business in crisis.
债权人会议由所有对债务人持有经INDECOPI（破产程序委员会）确认的债权的债权人组成。在普通破产程序（更为通用的程序）中，债权人会议根据陷入危机的企业是否具有存续可行性，决定债务人的命运，即选择重组还是清算。

Unlike other legal frameworks for bankruptcy, in Peru there is no intervention or approval by a court or by INDECOPI with respect to the economic or financial soundness, reasonability or feasibility of the restructuring or liquidation agreements, or of the creditors' meetings decisions in general, and therefore, the Peruvian insolvency system is highly "privatized" at its core. INDECOPI only fulfills a role of supervision and control of legality (requirements and approval of majorities, mandatory regulation, compliance with bankruptcy regulation, non-existence of abuse of rights, etc.).
与其他破产法律框架不同，在秘鲁，法院或INDECOPI对于重组或清算协议的经济或财务稳健性、合理性或可行性，或债权人会议决定的一般性内容，不进行干预或批准。因此，秘鲁破产制度的核心具有高度 “市场化” 的特征。INDECOPI仅履行监督和合法性控制的角色（包括法定人数要求与批准、强制性规定遵守、破产法规的合规性、不存在权利滥用等）。

The creditors' meeting's agreements and decisions can only be challenged by the debtor or by creditors representing at least 10% of the total credits recognized by INDECOPI Bankruptcy Procedures Commission, based on the non-observance of the provisions contained in the legal system, breach of legal formalities, or in case of abuse of law.
债权人会议的协议和决议，仅可由债务人或代表INDECOPI破产程序委员会所确认债权总额至少10%的债权人，以不遵守法律规定、违反法定程序或存在法律滥用为由提出异议。

In a liquidation scenario, payment of allowed credits will have the following order of precedence:
在清算情形下，获准债权的偿付按以下优先顺序进行：

1) First: Salaries and labor benefits owed to workers, as well as contributions to pension funds (public and private) and required debt to ESSALUD-Social Security of Health.
第一顺位： 拖欠工人的工资和劳动权益，以及应向（公共和私人）养老基金缴纳的款项和应向秘鲁社会保险机构（EsSalud）缴纳的健康社会保障款项。

2) Second: Alimony credits (only applicable for bankruptcy of individuals).
第二顺位： 赡养费债权（仅适用于个人破产）。

3) Third: Credits secured by mortgages, guarantees involving movable assets (pledges), warrants or precautionary measures against the debtor's assets, provided that said guarantees or liens were duly registered and the precautionary measures were attached before the commencement of the bankruptcy process.
第三顺位： 由抵押权、动产质权（质押）、保证权担保的债权，以及在破产程序开始前已依法登记并已附着于债务人财产的保全措施所担保的债权。

4) Fourth: Tax debts including taxes, fees, rates, contributions, interests and fines.
第四顺位： 税务债务，包括税款、费用、规费、缴款、利息和罚款。

5) Fifth: All remaining unsecured credits that were not considered above.
第五顺位： 所有上述未涵盖的剩余无担保债权。

If liquidation within a bankruptcy proceeding ends with the liquidation of the entire debtor's estate and credits remain unpaid, then the debtor will be declared bankrupt at the liquidator's request in civil court.
如果在破产程序中的清算最终处置了债务人的全部财产后仍有债权未获清偿，则经清算人申请，债务人将由民事法院宣告破产。