The country’s first Bankruptcy Bill is just awaiting the President’s signature and publication to become law in the Dominican Republic. The Business Restructuring and Judicial Dissolution Law was first submitted to Congress in 2007 as part of the national competitiveness strategy. The legislation establishes mechanisms for companies to restructure and overcome cash flow difficulties. Andres Vanderhorst, of the National Competitiveness Council, who spearheaded the drafting and lobbying of the bill, celebrated its passing. He expects it to raise the Dominican Republic’s ranking in the World Bank Doing Business report. The American Chamber of Commerce called it a step forward for the business and investment climate in the Dominican Republic.
http://www.elnuevodiario.com.do/app/article.aspx?id=436287
http://www.camaradediputados.gov.do/masterlex/mlx/docs/24/106/1ba5/b386/B387.pdf
http://amcham.org.do/index.php/sala-de-prensa-2/noticias/411-ley-de-reestructuracion-mercantil-representa-un-avance-para-facilitar-el-clima-de-inversion