#CostaRica 🇨🇷 #APriori_Informs: Simple Proxies Eliminated for Representation at Shareholders’ Meetings
Law No. 10840has recently entered into force, amending the Costa Rican Commercial Coderegarding...
An initiative proposed by the Judiciary seeks to address the backlog of debt collection cases by allowing debtors to be served at the email addresses agreed upon by the parties in credit agreements.
The proposal—which focuses on future credit transactions—would streamline the service-of-process stage, as the lawsuit would be deemed served at the agreed email address. This would not preclude a party from challenging service of process where an email address was incorrectly recorded or where circumstances prevented the legitimate receipt of the notice.
It should be noted that the use of email as an official means of notification already exists in Costa Rica through the companies’ registered electronic addresses.
Nevertheless, extending this mechanism to credit agreements would directly contribute to reducing the duration of proceedings, enabling debtors to be located more quickly, and reducing the backlog of debt collection proceedings within the Judiciary.
Please do not hesitate to contact us should you have any questions or require advice regarding this or any other corporate legal matter.
