INSOLVENCY PROCEEDINGS OVER A DECEASED’S ESTATE

Abstract

In this work the author proposes an interpretation of article 1.2 of the Insolvency Law, in relation to the subjective requirement for a declaration of insolvency proceedings over a deceased's estate, in accordance with article 182 of the said Law, which would allow the conclusion that the Insolvency Law does not exclude in absolute terms insolvency proceedings over a deceased's estate in the event that it has been accepted purely and simply [i.e. where the heirs are liable for the deceased's debts beyond the value of the estate]. As such, she proposes a joint declaration of insolvency proceedings over a deceased's estate and heir who accepts purely and simply, in accordance with the provisions of article 25.2 of the Insolvency Law, a declaration of insolvency proceedings over a deceased's undivided estate accepted purely and simply by the various parties, as well as treating the in-heritance as one where the heirs do not accept liability for debts beyond the value of the estate in the event that some heirs have accepted purely and simply and others have accepted under benefit of inventory that exempts them from liability to pay the deceased's debts beyond the value of the estate.