Restructuration how phenomena of change of the finance entities in Colombia
DOI:
https://doi.org/10.17533/udea.esde.21662Keywords:
restructuring, acquisition, merger, conversion and transfer of assets, liabilities and contractsAbstract
The restructuring is a legal financial figure by which it seeks to transform, specialize, expand services, consolidate and rescue financial institutions that are in difficulties within the sector.
To help you get the restructuring, the company must always have the approval of the Financial Superintendence of Colombia, overseer, controlling entity that will be responsible for giving the authorization, to join in the process if required, and may even work as a financial advice entity if institutions require it and / or request it.
Since the issuance of Decree 663 of 1993 (Organic Statute of the Financial System), the way of restructuring in Colombia has improved, given that the new rules are specific for the sector, and in that they identify the kinds of restructuring arranged for financial institutions, including: acquisition, merger, conversion, and transfer of assets, liabilities and contracts.
In the last five years in the financial sector is showing significant movements through restructuring, especially in conversions, and of course many more are expected. This means that financial institutions are in constant search of new financial strategies, accommodations, and so on. This shows that activity in the sector due not only to the demands of a globalized industry and competitive zeal, but also driven by the growth of financial customers or users, as a response to the constant search for a thicker underground, between some other considerable issues.
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