<p>The aim of this study is to define the impact the implementation of the law 550,1999 and Law 1116, 2006 has had, in its efforts to prevent companies in financial and economic difficulties go to liquidation and dissolution. The case study, ACERIAS PAZ DEL RIO steelworks, was one of the first companies to use this legal resource created by the Colombian government to be used in these companies. The objective of the research is to verify the recovery of illiquidity shown by the company with the implementation of the law 550, 1999 and 1116, 2006 through financial analysis between 1999 and 2014. Bearing in mind the calculation of the Altman Z SCORE indicator, it is concluded that the Law 1116 of 2006, of business restructuring in Colombia does not provide the viability of a company with liquidity problems. It is concluded to perform this analysis, the problem of illiquidity or lack of working capital is not an overcome drawback, and however, after 16 years this company happens to have illiquidity again. The research developed is documentary-explanatory- analytic based on documents, literature review and analysis of it.</p>