Panama, by means of Law 2 of August 22, 1916, approved its Code of Commerce which entered into effect on October 10, 1917. Book III was dedicated to the regulation of bankruptcy, from article 1534 to 1648, which contemplates the following topics in five titles: Title I: Declaration of bankruptcy and its effects; Title II: Administration of bankruptcy and the different types of credits; Title III: Provisions related to the bankruptcy of companies; Title IV: Rehabilitation; and Title V: Bankruptcy declared outside the Republic.
