The process is moving forward with auctions that already total $700 million, but the payment priority reduces the chances for those affected
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In Córdoba, the bankruptcy proceedings of Márquez y Asociados before Judge Sergio Ruiz continue, with the first auctions already underway. The vehicle auctions have attracted market interest, and 700 million pesos (1,543,235 pounds) have already been raised, which make up the available assets. This money will be managed cautiously to preserve it until the credit verification stage.
In the first auction, 14 vehicles were awarded for 604 million pesos (1,331,543 pounds) free of commissions, a figure celebrated by market operators. Subsequently, two more rounds of auctions were added with seven vehicles that caused an additional 99.5 million pesos (219,367 pounds) in revenue. With these operations, the insolvency process is progressing with positive signs, although the distribution timeline will be longer.
The judge must order the payment of conservation and administration expenses before distributing to creditors who prove their claims. Among the pending assets are apartments in Panama valued at an estimated 250,000 dollars, presented by the receivership. A warehouse and construction materials that belonged to the bankrupt company were also included.
Camioneta ofrecida en el remate por la quiebra de Márquez y Asociados
Priorities and recovery in insolvency proceedings
The law stipulates that the first payments correspond to procedural expenses, employees, and tax authorities, before the victims. On average, in insolvency proceedings in Argentina and worldwide, creditors usually recover only between 5 and 6% of their claims. In the Márquez case, families who never received their homes will only be paid in the final distribution stages.
The final percentage available is reduced by mandatory deductions applied in each auction and by professional fees. Commissions, VAT, stamp duties, and various contributions were deducted in the auctions, consuming about 28% of the proceeds from each operation. Therefore, the amounts that will reach those without payment privileges will be substantially lower.
The order of priority established in Law 247 also defines other privileges that further reduce the ability of ordinary creditors to collect. This situation means that the vast majority of victims are left behind, with practically symbolic recovery expectations. The judge's administration seeks to avoid further harm, although the margin for action is limited.
Bienes rematados por la quiebra de Márquez y Asociados
Registration deadlines and recommendations
As of last Friday, 1,575 creditors had registered, a low figure compared to the thousands of affected individuals mentioned at the beginning of the case. To verify their claims, interested parties must complete the digital form available on the procesosconcursales.ar website and upload all documentation. The deadline set for submitting the application is November 11, remembered as "11/11."
The procedure can be completed without a lawyer, and the receivership of Estudio Ledesma-Fernández handles inquiries by phone and email. The process aims to be as accessible as possible, since the goal is to gather the largest number of verified creditors. Once registration is closed, the final liquidation is projected to take place in 2026.
The recovered assets will be safeguarded to preserve their value and avoid expenditures such as office and warehouse rentals, which still generate million-dollar costs. The official strategy aims to prevent depreciation of the assets obtained and to ensure a safer distribution. In this context, victims will have to wait more than a year to find out the amounts they will actually receive.
