Issue to consolidate corporate debts (art. 343 LGS)
Article 343 of the General Companies Law governs the issue of debentures to consolidate debts: the trustee authorizes the delivery of certificates after verifying the transaction.
What article 343
Article 343 governs the issue of debentures intended to consolidate corporate debts.
When the issue is made to consolidate corporate debts, the trustee shall authorize the delivery of the certificates after verifying the performance of the transaction.
Source: Law 19.550, art. 343 — InfoLEG (updated official text)
Commentary
Debentures may be used to restructure liabilities: exchanging scattered debts for orderly certificates. The trustee checks that the consolidation is carried out before delivering the certificates.
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