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making when administrative, industrial, commercial, economic, or financial matters areinvolved. These specialists are the inspectors, conciliators, and bankruptcy trustees.In order to assemble a group of professional specialists, the law stipulates the creationof the Federal Institute of Business Reorganization Specialists (Instituto Federal de Especialistasde Concursos Mercantiles) as an auxiliary entity to the Federal Judicial Board(Consejo de la Judicatura Federal), which is the body that authorizes and keeps a registryof the persons qualified to act as inspectors, conciliators and bankruptcy trustees, andappoints them in specific reorganization proceedings.3. Persons Authorized to Petition for a Judicial Declarationof Business ReorganizationWhen a statutory presumption of business reorganization exists, the merchant, his creditors,or the Public Prosecutor (Ministerio Público) can petition the court to declare thereorganization of a merchant.If the merchant himself requests a declaration of its reorganization, it will be sufficientto show that a statutory presumption of business reorganization exists. If a creditor orthe Public Prosecutor requests a declaration of business reorganization, the merchantmay go before the judge to attempt to discredit the claims against it. At the same time,an inspector will be designated to inspect the merchant to determine if the statutory presumptionsfor the declaration of business reorganization exist.4. Statutory Presumptions of Commercial BankruptcyA merchant will be declared to be in reorganization when it fails to pay its debts universally.If the creditors or the Public Prosecutor request the declaration of reorganization, themerchant will be considered in universal breach if it is in arrears to two or more creditors:a) There are debts more than 30 days past due that represent 35 percent or more ofthe total of the merchant’s debt on the date of the reorganization suit;b) The merchant does not have sufficient assets to guarantee the payment of at least80 percent of its past due debt on the date of the reorganization suit.323Insolvency and BankruptcyIf the merchant himself requests a declaration of reorganization, satisfying either oneof the statutory presumptions indicated above in sections a) or b) will be sufficient.5. Stages of Business ReorganizationThe primary objective of the Business Reorganization Law is to attempt to keep the businessin the hands of its owners and only when this is impossible, arrange its organized