Judicial Recovery of Lojas Americanas and its Stakeholders
By: Vitor Ferrari and Ivan Kubala After a thorough accounting analysis of Lojas Americanas’ economic indicators, the team of the company’s new CEO, Sérgio Rial, found a fiscal deficit of approximately R$40 billion, a value much higher than the company’s total net worth, which is around R$12 billion. According to the company itself, […]
Means of negotiation in Judicial Recovery – Haircut
By: Vitor Ferrari and Ivan Kubala Upon having its judicial recovery granted by the competent Court, the Company Under Reorganization must present its Judicial Recovery Plan to the creditors qualified in the process. This document will contain the means and tactics to be used by the debtor so that the credits are paid within the process, which may […]
Judicial Recovery for small and micro-enterprises
By: Vitor Ferrari and Ivan Kubala According to Brazilian law, micro-enterprises are business corporations, simple partnerships, or individual limited liability companies that earn annual gross revenue equal to or less than R$$ 360,000.00. Small businesses are considered the same business types as micro-enterprises, however, their annual revenue is […]
The Institute of Disregard of Legal Personality
By: Vitor Ferrari and Ivan Kubala In December 2022, President Jair Bolsonaro (PL) fully vetoed Bill 3,401/08, whose legal text provided for changes to the Institute of Disregard of Legal Personality, a procedure already provided for in the national legal system and through which it is temporarily removed, and only in exceptional cases, […]
Importance of Stay Period in judicial recovery
By: Vitor Ferrari and Ivan Kubala According to the Bankruptcy and Recovery Law, among other requirements, only credits existing up to the date of the request for judicial recovery are subject to judicial recovery, even if they are not due. In other words, only credits already constituted will suffer the effects of judicial recovery. However, it is […]
Need for supervision in Judicial Recovery
By: Vitor Ferrari and Ivan Kubala According to the unanimous understanding of the 1st Reserved Chamber of Business Law of the Court of Justice of São Paulo, both the supervision and the inspection of a judicial recovery cannot be disregarded in order for its termination to take place. In this specific case, the judging panel rejected the decision to terminate […]
Special business districts created in the interior of São Paulo.
By: Vitor Ferrari and Ivan Kubala The Honorable Court of Justice of the State of São Paulo has officially created business and arbitration courts in large cities in the interior of the state, such as Sorocaba, São José do Rio Preto, Campinas and Ribeirão Preto. According to the Court of Justice itself, these courts will have jurisdiction to […]
Andrade Gutierrez Engenharia requests extrajudicial recovery.
By: Vitor Ferrari and Ivan Kubala Target of the Lava Jato operation and forced to sign a leniency agreement with the Union in which it undertakes to return approximately R$1.50 billion, the famous construction company Andrade Gutierrez, through its business group, filed a request for extrajudicial recovery in the approximate amount of R$2.36 billion in […]
Stalking Horse
By: Vitor Ferrari and Ivan Kubala Originally, the term Stalking Horse refers to a hunting modality in which the hunter hides behind a horse to surprise his prey. The term became popular in the context of private merger and acquisition processes, in which one of the interested parties made the first bid in the auction […]
Promise of purchase and sale in the acquisition of real estate developments
By: Vitor Ferrari and Ivan Kubala One of the most popular investments among Brazilians, if not the most popular, is real estate. Many investors profit from buying and selling these assets, so reducing operational and tax costs with this activity is of utmost importance so that the return on invested capital is the […]