Aplicación del fideicomiso en Uruguay. Protección de derechos de acreedores

Abstract

The banking crisis of 2002 and the problems in the uruguayan capital market since 1998 ascribe importance to the theme of creditor´s rights protection. In adittion, the present context determines the necessity to develop diverse financial instruments to banking credit. It is in this framework that the Fideicomiso Law is approved in October 2003. Thus, the present article analizes the situation of creditor´s rights protection, an important element for an adequate utilization of Fideicomiso in Uruguay. We review the three elements that it includes: the normative precepts, the institutions that dictate and control them, and the efficiency of the Warranty´s System. The conclusion is that there are no particular problems with the precepts or with the efficiency of the Warranty´s System, a situation that is different with the institution that dictates and controls the normativity related to Fideicomiso, that is, the Central Bank of Uruguay.