Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 469

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 469
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 foreign proceeding, ensuring compliance with the constitutional right to defense (article 18 of the Argentine Constitution). A brief exequaturprocess verifies compliance with these requirements without re -examiningthe merits of the case. If the requirements are not met, the judgment will not be enforced in Argentina. In summary, a foreign judgment can only be enforced in Argentina if it meets procedural and substantive requirements under Argentine law and applicable treaties. Otherwise, it will lack enforceability in Argentina. The analysis of directors’ liability in Argentina focuses on the duties of loyalty and diligence established in article 59 of the Argentine General Corporate Law. These concepts require directors to act with honesty and professionalism, prioritizing the interests of the company over personal gains. Loyalty involves avoiding conflicts of interest, such as contracting with the company or competing with it, while diligence requires technical skills and appropriate experience for the role. Directors’ liability is joint and unlimited, meaning they are personally liable for damages caused by fraud, abuse of authority, or gross negligence. This includes violations of the law, bylaws, or regulations, as well as negligent decisions that harm the company, shareholders, or third parties. Joint liability extends to all directors, even if they did not actively participate in the harmful decision, unless they formally opposed it in writing. In cases of insolvency, directors must inform shareholders and take measures to avoid the company’s dissolution. Failure to do so can result in liability for damages to creditors. Precedent of the Argentine courts has established that directors must act diligently to avoid operating under insolvent conditions, protecting creditors’ interests. In the tax realm, directors can be jointly liable for the company’s tax debts if their negligence or fault in fulfilling tax obligations is proven. However, directors may be exempt from liability if they demonstrate that they were not involved in the decisions that led to the non -compliance. In customs matters, they are responsible for unpaid fines by the company, unless they prove they were not in office at the time of the violation. In the criminal sphere, directors may be liable for offenses such as fraudulent administration, falsification of financial statements, or breach of confidentiality, provided intent or gross negligence is proven. In labor law, directors’ joint liability is exceptional and requires evidence of fraud or simulation. Argentine courts tend to be restrictive in extending liability to directors unless there is clear evidence of abuse. In environmental matters, directors can be held accountable for environmental damage caused by the company, although there are few precedents in this regard. The trend in Argentina is toward greater responsibility in this