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- Title
Extrajudicial Reorganisation as a mechanism to implement pre-packaged restructurings in Brazil.
- Authors
Fontes Bechara, Guilherme; Vaz, Janaina
- Abstract
This article addresses the main features of the pre-packaged restructuring procedure designed by Brazilian bankruptcy law: the so-called Extrajudicial Reorganisation (Recuperação Extrajudicial). It explains that the Extrajudicial Reorganisation, although not largely used in the first years of the law, is becoming an attractive alternative for Brazilian debtors that wish to restructure specific claims in a more consensual and less disruptive manner. To incentivise the use of the Extrajudicial Reorganisation, a legislative reform was recently conducted, resulting in the amendment of important aspects of the procedure, making the pre-packaged plan more efficient for debtors to renegotiate certain claims, specifically financial ones.
- Subjects
BRAZIL; BANKRUPTCY; LEGISLATIVE reform; DEBTOR &; creditor; EXECUTIONS &; executioners; DEBT relief
- Publication
Insolvency & Restructuring International, 2023, Vol 17, Issue 2, p25
- ISSN
1995-0241
- Publication type
Article