Enforceability of debentures upon dissolution (art. 352 LGS)
Article 352 of the General Companies Law makes debentures enforceable from the moment the dissolution of the debtor company is resolved, with immediate repayment and interest.
What article 352
Article 352 sets out the acceleration of the debentures' term upon dissolution of the debtor.
In all cases in which the dissolution of the debtor company occurs before the agreed payment terms have fallen due, the debentures shall be enforceable from the day on which the dissolution was resolved, with the right to their immediate repayment and to the payment of accrued interest.
Source: Law 19,550, art. 352 — InfoLEG (updated official text)
Commentary
Dissolution brings the maturity forward: debenture holders need not wait for the original term, because the company is extinguished. It protects their collection in the face of the debtor's end.
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