走近南美洲（秘魯）系列文章DOING BUSINESS PERú秘魯營商環境（十五）
2025-08-15Contributor供稿：秘魯Rodrigo, Elías & Medrano律師事務所
Chinese Translation中文翻譯：錦天城 王良 律師
China is Peru's main trading partner, the largest destination of exports and the main source of imports for Peru. Peru is China's second largest investment destination in South America. The two countries have established a comprehensive strategic partnership and signed a free trade agreement. In the next five to 10 years, Peru will become another destination for Chinese enterprises going global. More Chinese companies will enter Peru and expand into the broader South American market through Peru. AllBright Law is actively exploring the legal service market in South America, providing reliable host country legal service resources and doing legal research on various host countries for Chinese enterprises going to South America, so as to provide legal protection for serving China's high-level opening-up and the "the Belt and Road" strategy. To this end, AllBright Law, together with Rodrigo, El í as &Medrano Law firms in Peru, launched this Series of Articles on Peru Business Environment, including Peru's going global, Peru's corporate structures, Peru's promotion of investment and legal stability, operational legal environment, business winding up and restructuring a business.
中國是秘魯的主要貿易伙伴，是秘魯第一大出口目的地國，也是秘魯主要進口來源國。秘魯是中國在拉美的第二大投資目的地。兩國之間既建立全面戰略伙伴關系，又簽署了自由貿易協定。未來五到十年，秘魯將成為中國企業出海的另一片熱土，中國會有更多企業走向秘魯，并通過秘魯走向更廣闊的南美洲市場。錦天城積極開拓南美洲法律服務市場，向出海南美洲的中國企業提供可靠的東道國法律服務資源和做好國別法律研究等工作，為服務中國高水平對外開放和“一帶一路”戰略提供法律保障。為此，錦天城聯合秘魯Rodrigo, Elías & Medrano律師事務所，推出《秘魯營商環境》系列文章，介紹秘魯走向世界、秘魯公司架構、秘魯外國投資促進和法律穩定性、企業運營法律環境、停業和企業重整等內容。
WINDING UP / RESTRUCTURING A BUSINESS
停業/業務重組
1. Dissolution / Liquidation解散/清算
The LGS Law (General Corporations Law) sets forth the grounds and procedures for dissolution and liquidation of corporations and companies in general. However, certain entities, such as financial entities, must apply specific liquidation regimes, based on their particular activity.
《公司法通則》（LGS）規定了公司及一般企業解散和清算的事由與程序。然而，某些實體，例如金融機構，必須根據其業務性質適用特定的清算制度。
(1) Dissolution 解散
The dissolution of a corporation under the LGS may be decided voluntarily by its shareholders at a general meeting.
根據《公司法通則》（LGS），公司解散可由股東在股東大會上自愿決定。
The shareholders can freely decide the voluntary dissolution of a corporation under the LGS, the agreement taken by the general meeting of shareholders being sufficient for this purpose, without any legal or statutory cause.
根據《公司法通則》（LGS），股東可自由決定自愿解散公司，為此目的，股東大會通過的決議即足以生效，無需任何法定或章程規定的事由。
However, a corporation will be obliged to dissolve if any of the causes laid down in article 407 of the LGS is established.
但是，如果出現《公司法通則》（LGS）第407條規定的任何解散事由，則公司必須解散。
The board of directors or, failing this, a shareholder, partner or manager shall convene a general meeting of shareholders within a maximum period of thirty days in order to take the dissolution agreement or appropriate measures to overcome the cause of dissolution.
董事會，或在董事會未能履職時，任何股東、合伙人或經理人，應最遲在三十天內召集股東大會，以通過解散決議或采取適當措施消除解散事由。
Notwithstanding the foregoing, the shareholders may freely decide on the voluntary dissolution of a corporation under the LGS, the agreement taken by the general meeting of shareholders is sufficient without any statutory legal cause.
盡管有上述規定，根據《公司法通則》（LGS），股東可自由決定自愿解散公司，股東大會通過的決議即足以生效，無需任何法定事由。
Finally, it is worth noting that although corporations are run by the shareholders and its governing bodies, the Peruvian Government may compel the company to continue its activities due to reasons of national security or public necessity, even if the dissolution has been agreed.
最后，值得注意的是，盡管公司由股東及其治理機構管理，但秘魯政府出于國家安全或公共利益的理由，可強制公司繼續運營，即使公司已決議解散。
(2) Liquidation 清算
The liquidation process is initiated as an immediate consequence of the decision to dissolve the company, which maintains its corporate existence until the liquidation process is completed and the extinction is recorded in the Public Registry.
清算程序作為解散決定的直接后果立即啟動，公司法人資格僅為清算之目的存續，直至清算程序完成且注銷登記載入公共登記處。
The liquidation process is conducted by one or more liquidators, individuals or legal entities, designated by the shareholders' meeting.
清算程序由股東大會指定的一名或多名清算人（自然人或法人）負責進行。
Liquidators must keep the shareholders informed regarding the financial situation statements of the company and on the development of the liquidation process. It's important to notice that the remaining assets cannot be distribute between shareholders before corporate creditors are completely paid off.
清算人必須向股東通報公司財務狀況報告和清算程序的進展。重要的是，在公司債務（指清算中確認的債務）全部清償完畢之前，剩余資產不得在股東之間分配。
Once the remaining social assets (if any) have been distributed, the liquidators will request the extinction of the company before the Public Registry. Once the extinction is declared, if there are pending debts to creditors, they will be able to assert their credits against the shareholders, but only up to the amount of the remaining assets distributed thereto in the liquidation process.
一旦剩余資產（如有）分配完畢，清算人將向公共登記處申請注銷公司。公司一經宣告注銷，若仍有對債權人的未償債務，債權人可向股東主張其債權，但僅以該股東在清算過程中所分得的剩余資產數額為限。
2. Insolvency / Bankruptcy / Restructuring 無力償債/破產/重組
All insolvency, bankruptcy and restructuring processes involving companies or individuals who are Peruvian residents and perform business activities are regulated by the General Bankruptcy Law and complementary regulation. Banks, insurance companies, private administrators of pension funds, autonomous estates and government bodies (ministries, tax authorities, local governments as municipalities and other similar) are not subject to this law.
所有涉及身為秘魯居民且從事商業活動的公司或個人的無力償債、破產和重組程序，均受《普通破產法》及配套法規的監管。銀行、保險公司、養老基金私人管理人、自治財產管理機構和政府機構（各部委、稅務機關、市政等地方政府及其他類似機構）不適用本法。
INDECOPI (National Institute for the Defense of Competition and Protection of Intellectual Property), through its Bankruptcy Procedures Commission, is the government administrative agency with exclusive and mandatory competence over insolvency or bankruptcy matters.
國家競爭保護和知識產權保護局（INDECOPI）通過其破產程序委員會，是處理無力償債或破產事務的政府行政機構，擁有專屬和強制管轄權。
The General Insolvency Law establishes two types of procedures: (i) preventive bankruptcy procedure and (ii) ordinary bankruptcy procedure.
《普通破產法》確立了兩類程序：(1) 預防性破產程序和 (2) 普通破產程序。
The preemptive bankruptcy proceeding shall only be initiated at the request of the debtor when its accumulated losses, after deduction of the reserves, are less than one third of the paid-in capital stock and do not have more than one third of its obligations due and unpaid for a longer period to 30 days. Through this procedure and with the approval of the creditors' meeting of the Global Refinancing Agreement, the debtor can obtain a rescheduling of their debts, lower interest rates and other financial benefits.
預防性破產程序僅應在債務人請求時啟動，前提是其累計虧損（扣除準備金后）低于實繳股本的三分之一，且未償逾期債務（逾期超過30天）未超過其債務總額的三分之一。通過此程序，并經債權人會議批準《整體重組協議》，債務人可獲得債務展期、降低利率及其他財務優惠。
The ordinary bankruptcy proceeding may be filed by the debtor (voluntary petition) when it has losses in excess of one-third of its paid-in capital, or past due obligations in excess of one-third of the debtor's total liabilities for a period longer than 30 days. Bankruptcy can also be initiated by creditors (involuntary petition) when their credits exceed 50 tax units (UIT), and are past due for more than 30 days. The ordinary bankruptcy proceeding seeks to provide an orderly scenario to allow creditors to decide whether to restructure or liquidate the estate's debtor.
當債務人虧損超過其實繳股本的三分之一，或逾期債務超過其總負債的三分之一且逾期超過30天時，債務人可申請（自愿申請）普通破產程序。當債權人的債權超過50個稅務單位（UIT）且逾期超過30天時，債權人也可啟動（非自愿申請）破產程序。普通破產程序旨在提供一個有序的框架，使債權人能夠決定是重組還是清算債務人的財產。
The creditors' meeting is formed by all creditors who hold claims against the debtor, duly recognized by INDECOPI. In the ordinary bankruptcy proceedings (the one of more general use) the creditors' meeting decides about the debtor's destiny, whether opting for its restructuring or its liquidation, depending on the viability or not of the business in crisis.
債權人會議由所有對債務人持有經INDECOPI（破產程序委員會）確認的債權的債權人組成。在普通破產程序（更為通用的程序）中，債權人會議根據陷入危機的企業是否具有存續可行性，決定債務人的命運，即選擇重組還是清算。
Unlike other legal frameworks for bankruptcy, in Peru there is no intervention or approval by a court or by INDECOPI with respect to the economic or financial soundness, reasonability or feasibility of the restructuring or liquidation agreements, or of the creditors' meetings decisions in general, and therefore, the Peruvian insolvency system is highly "privatized" at its core. INDECOPI only fulfills a role of supervision and control of legality (requirements and approval of majorities, mandatory regulation, compliance with bankruptcy regulation, non-existence of abuse of rights, etc.).
與其他破產法律框架不同，在秘魯，法院或INDECOPI對于重組或清算協議的經濟或財務穩健性、合理性或可行性，或債權人會議決定的一般性內容，不進行干預或批準。因此，秘魯破產制度的核心具有高度 “市場化” 的特征。INDECOPI僅履行監督和合法性控制的角色（包括法定人數要求與批準、強制性規定遵守、破產法規的合規性、不存在權利濫用等）。
The creditors' meeting's agreements and decisions can only be challenged by the debtor or by creditors representing at least 10% of the total credits recognized by INDECOPI Bankruptcy Procedures Commission, based on the non-observance of the provisions contained in the legal system, breach of legal formalities, or in case of abuse of law.
債權人會議的協議和決議，僅可由債務人或代表INDECOPI破產程序委員會所確認債權總額至少10%的債權人，以不遵守法律規定、違反法定程序或存在法律濫用為由提出異議。
In a liquidation scenario, payment of allowed credits will have the following order of precedence:
在清算情形下，獲準債權的償付按以下優先順序進行：
1) First: Salaries and labor benefits owed to workers, as well as contributions to pension funds (public and private) and required debt to ESSALUD-Social Security of Health.
第一順位： 拖欠工人的工資和勞動權益，以及應向（公共和私人）養老基金繳納的款項和應向秘魯社會保險機構（EsSalud）繳納的健康社會保障款項。
2) Second: Alimony credits (only applicable for bankruptcy of individuals).
第二順位： 贍養費債權（僅適用于個人破產）。
3) Third: Credits secured by mortgages, guarantees involving movable assets (pledges), warrants or precautionary measures against the debtor's assets, provided that said guarantees or liens were duly registered and the precautionary measures were attached before the commencement of the bankruptcy process.
第三順位： 由抵押權、動產質權（質押）、保證權擔保的債權，以及在破產程序開始前已依法登記并已附著于債務人財產的保全措施所擔保的債權。
4) Fourth: Tax debts including taxes, fees, rates, contributions, interests and fines.
第四順位： 稅務債務，包括稅款、費用、規費、繳款、利息和罰款。
5) Fifth: All remaining unsecured credits that were not considered above.
第五順位： 所有上述未涵蓋的剩余無擔保債權。
If liquidation within a bankruptcy proceeding ends with the liquidation of the entire debtor's estate and credits remain unpaid, then the debtor will be declared bankrupt at the liquidator's request in civil court.
如果在破產程序中的清算最終處置了債務人的全部財產后仍有債權未獲清償，則經清算人申請，債務人將由民事法院宣告破產。
