Put: Vitor Antony Ferrari and Ivan Kubala

The changes to Law No. 11,101/05 promoted by Law No. 14,112/20, which came into force at the beginning of this year, are already moving the Judiciary, which has not been slow to promote the first changes in the positions established by the Collegiate Bodies, whether through case law or through statements.

As highlighted in other articles related to the subject – New Bankruptcy and Judicial Reorganization Law – many changes will require interpretation by the Judiciary and review of positions.

The Court of Justice of the State of São Paulo has been moving in this direction, and the Group of Reserved Chambers for Business Law has already revised some Statements that deal with the matter, especially because the new wording of the LRF (Law on Judicial Recovery and Bankruptcy) has made good progress in clarifying and detailing some provisions that previously required interpretations and positions from legal professionals.

This movement also reflects the need for greater effectiveness of the Judiciary in resolving lawsuits involving impacts resulting from the COVID-19 pandemic. Given that the natural trend is an increase in the number of requests for judicial recovery of companies affected by the pandemic, it is important that the Judiciary be prepared to discuss issues related to this matter with greater speed and efficiency.

This is the case, for example, of Statements II, VII and XIV, which provided for the period of judicial supervision of judicial recoveries (article 61 of the LRF), the possibility of prior verification of the request for judicial recovery (article 51-A), and the method of counting the terms provided for in the LRF and resulting from them (art. 189, §1º, I, of the LRF), respectively, which were cancelled because the new wording regulated the matters in question.

Other statements are still under review and will certainly be changed or cancelled by the Bandeirante Court.

Our specialized team has been monitoring the impact of the new LRF on the positions of State Courts and Superior Courts, in order to always guide our clients in accordance with the most up-to-date standards, and those interested in the subject can find the most relevant and current topics on judicial recovery and bankruptcies on our pages.