Argentine law academies demand broad debate on company law reform

Argentina's leading law academies are demanding a comprehensive discussion regarding the government's proposed reform of the General Companies Law. The legislation, which aims to create a more flexible corporate framework incorporating blockchain and artificial intelligence, has raised significant concerns among legal experts. The National Academy of Law and Social Sciences of Córdoba and its Buenos Aires counterpart issued a joint statement arguing that the proposed changes are so substantial they risk rendering decades of legal doctrine and jurisprudence obsolete. They specifically highlighted that the reform could infringe upon the privacy and autonomy of existing companies and their shareholders. The academies criticized the lack of prior consultation, stating that the project's submission to Congress without broader academic, business, and institutional input prevented a necessary debate. They pointed to potential coordination errors within the bill and questioned the clarity of the new legal structure for corporate entities. The reform also proposes eliminating traditional company types like the collective company, potentially forcing existing businesses to adopt new legal regimes.