what is it and how does it work?
Posted: Wed Feb 19, 2025 7:13 am
Introduced innovation in the judicial recovery of companies , which is still little known to those who are not in the business sector. According to article 47, it offers the possibility for companies to make their lives viable and overcome the economic crisis, preserving and promoting their social function and stimulating economic activity.
The main objective of corporate judicial recovery is the economic and financial recovery of the company through a payment plan to creditors that allows the company to overcome current difficulties and be able to get back on its feet.
By paying debts in installments, the entrepreneur can 阿尔巴尼亚 数字数据 return to the sector productively and with all its potential, benefiting everyone who depends on its maintenance, such as employees, creditors, government, etc.
The law can be used by companies that promote the economy, such as technology and innovation companies , among other numerous economic segments that aim to favor the country's economic growth.
In this way, thousands of people and other companies that supply the Company under judicial recovery will benefit from the granting of the judicial recovery. With this in mind, the legislature sought a way to offer a chance to companies in difficult times so that they can get back on their feet and not go bankrupt.
In practice, the judicial recovery of companies works with the presentation of the creditors' recovery plan to the Court.
During the process, the company must comply with the plan and present a monthly report to the judge and creditors on the progress of the business. The judicial administrator appointed by the court will serve as an intermediary between the company, the legal system and the creditors.
With the proposed reform, some changes will be made to this process, ranging from the deadline for paying debts to the legal way in which this process is conducted.
New Bankruptcy and Business Recovery Law
Designated by the Speaker of the Chamber of Deputies, Rodrigo Maia (DEM-RJ), to deal with the bill to reform the Judicial Recovery and Bankruptcy Law (Bill No. 10,220), Congressman Hugo Leal (PSD-RJ) presented, at the beginning of August, a proposal to change the text that had been sent to Congress by the government of Michel Temer and which, at the time, was harshly criticized in the legal community.
The text is a substitute for the bill and changes the judicial recovery and bankruptcy processes . The original bill was considered by the private sector to be too broad and too favorable to the government and the Treasury Attorney General's Office.
The new version was suggested by experts in the area of bankruptcy. The expectation is that the bill will make it easier for bankrupt entrepreneurs to start over, as well as make financing available for companies in recovery.
The main objective of corporate judicial recovery is the economic and financial recovery of the company through a payment plan to creditors that allows the company to overcome current difficulties and be able to get back on its feet.
By paying debts in installments, the entrepreneur can 阿尔巴尼亚 数字数据 return to the sector productively and with all its potential, benefiting everyone who depends on its maintenance, such as employees, creditors, government, etc.
The law can be used by companies that promote the economy, such as technology and innovation companies , among other numerous economic segments that aim to favor the country's economic growth.
In this way, thousands of people and other companies that supply the Company under judicial recovery will benefit from the granting of the judicial recovery. With this in mind, the legislature sought a way to offer a chance to companies in difficult times so that they can get back on their feet and not go bankrupt.
In practice, the judicial recovery of companies works with the presentation of the creditors' recovery plan to the Court.
During the process, the company must comply with the plan and present a monthly report to the judge and creditors on the progress of the business. The judicial administrator appointed by the court will serve as an intermediary between the company, the legal system and the creditors.
With the proposed reform, some changes will be made to this process, ranging from the deadline for paying debts to the legal way in which this process is conducted.
New Bankruptcy and Business Recovery Law
Designated by the Speaker of the Chamber of Deputies, Rodrigo Maia (DEM-RJ), to deal with the bill to reform the Judicial Recovery and Bankruptcy Law (Bill No. 10,220), Congressman Hugo Leal (PSD-RJ) presented, at the beginning of August, a proposal to change the text that had been sent to Congress by the government of Michel Temer and which, at the time, was harshly criticized in the legal community.
The text is a substitute for the bill and changes the judicial recovery and bankruptcy processes . The original bill was considered by the private sector to be too broad and too favorable to the government and the Treasury Attorney General's Office.
The new version was suggested by experts in the area of bankruptcy. The expectation is that the bill will make it easier for bankrupt entrepreneurs to start over, as well as make financing available for companies in recovery.