ASSET RECOVERY STRUCTURE

The Law Firm handles a substantial Financial Asset Recovery portfolio, mainly from local banks. This portfolio includes a number of products and different amounts that required a division by area of practice of the various attorneys assigned to this task.-

The products and areas handled can be classified as follows :

• Corporate Portfolio: corporate loans in amounts above AR$ 100,000, secured or not ;
• Commercial Portfolio: loans to businesses and merchants (including checking accounts), secured or not, in amounts below AR$ 100,000. This category includes loans secured by pledges, and financial leases of heavy machinery;
• Retail Portfolio (consumer loans): a) Secured : 1) By mortgage; 2) By pledge b) Unsecured: 1) Checking Accounts; 2) Credit Cards; 3) Personal Unsecured Loans.

In accordance with this classification, the Law Firm is divided into departments that handle each such category. Another division exists between "out-of-court collection efforts" and "legal proceedings".-

Specifically in connection with out-of-court collection efforts related to the Retail Portfolio, the Law Firm has a Retail Recovery Department formed by attorneys and their assistants, who work on administration and recovery of claims in default. This department has an office in the heart of the city’s financial district and has the requisite systems to handle telephone calls, personal visits, payment demands, debtor services, etc... The Department also has a warehouse were seized vehicles are kept and, in addition to credit recovery tasks, it runs preventive checks in environmental and labor matters.-

Another important area of the Law Firm is the department that handles recovery of loans secured by pledge. This Department has a special structure and know-how, as a result of many years of experience. It has an important special-purpose back office and a structure of independent auctioneers, a permanent warehouse, etc, ....

The Asset Recovery structure is supplemented by the Law Firm’s general back office (See Organization of the Law Firm).-

Jurisdiction: the Law Firm acts in the Northwestern area of Argentina, through correspondents in the Provinces of Santiago del Estero, Catamarca, Salta and Jujuy.-

On the other hand, each of the areas described above is led by an attorney who specializes in the matter and is assisted by a team devoted to that specific area.-