Decree 46 of 2024 and the Derivative Action

Corporate attorney Juan Felipe Arango wrote an article for Asuntos Legales about the changes introduced by Decree 46 of 2024 to the Colombian corporate regime, specifically regarding the concept of derivative actions. In his analysis, Mr. Arango discusses the legal and constitutional challenges arising from the implementation of this measure by decree rather than through legislative means, and highlights potential conflicts before the Superintendence of Corporations concerning its practical application. He also concludes that, to avoid controversies and misuse of this mechanism, it is essential that any future regulation of derivative actions come from the legislative branch and include strict access controls, following international standards.

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