Declaring bankruptcy is a complex procedure that seeks to balance the treatment of creditors and preserve, whenever possible, the value of the company's assets. Although there is a perception that bankruptcy ends all business activities, Brazilian law allows the maintenance of contracts that are still economically advantageous, especially those capable of generating revenue or adding value to the bankrupt estate. Article 117 of Law 11.101/05 provides for this possibility, giving the judicial administrator the responsibility of assessing the convenience of continuing or terminating the contract. 

The basis for this continuity lies in the legal commitment to maximize returns to creditors and avoid the dissipation of assets. The judicial administrator, as manager of contractual relationships, must analyze whether a contract can generate resources for the bankrupt estate or prevent losses. If the agreement contributes to preserving the value of the bankrupt company, there are reasons to maintain it; otherwise, termination becomes the best option, always considering the collective interest. The decision must be made strategically, taking into account the cost-benefit of maintaining each obligation. 

It is important to note that the law does not require the automatic termination of all contracts upon the declaration of bankruptcy. On the contrary, it allows for the renegotiation of terms, payment conditions and guarantees, adjusting them to the new reality of the bankruptcy process. Furthermore, in certain situations, the assignment of rights and obligations is permitted if the transfer of the contract to a third party represents a benefit to the bankrupt estate. Therefore, it is recommended that clauses that provide for automatic termination due to bankruptcy be carefully analyzed, since their indiscriminate application may result in the loss of profitable opportunities for creditors. 

In practice, maintaining certain contracts can be extremely advantageous. For example, preserving raw material supply contracts can allow the completion of orders already in stock, optimizing the liquidation of assets. Likewise, maintaining essential services, such as equipment maintenance, prevents their depreciation and preserves their market value. Such decisions can significantly increase the resources available to pay creditors, reducing the impact of bankruptcy. 

Detailed analysis of each contract, combined with transparency and cooperation between the parties involved, tends to yield better results. While protecting the interests of creditors, maintaining certain businesses allows the continuity of strategic activities, making liquidation less burdensome and enabling more efficient solutions for settling debts. 

In short, bankruptcy does not necessarily mean the termination of all contractual relationships of the company. The legislation allows the maintenance of those contracts that generate value for the bankrupt estate, converting the crisis into an opportunity to optimize available assets and improve the satisfaction of credits. This approach not only balances the economic result of the bankruptcy process, but also preserves commercial relationships that still have potential for return, promoting a more efficient outcome for all parties involved.