Put: Victor Antony Ferrari, Antonio Mazzucco and Ivan Kubala
The request for Judicial Recovery is made up of a complex sum of documents, declarations and information that require specialized analysis and monitoring in order to obtain the benefits brought by the Law.
But who specifically can request a Judicial Recovery after all?
The Law that regulates the Judicial Recovery procedure establishes that a business corporation may avail itself of Judicial Recovery, provided that:
- regularly carry out its activities for more than 2 (two) years, duly registered with the Commercial Board of its State;
- is not bankrupt, and if he/she has already been bankrupt, his/her obligations and responsibilities have been extinguished by a final judgment;
- not having, less than 5 (five) years ago, obtained a judicial recovery concession;
- not having been convicted or not having, as administrator or controlling partner, a person convicted of any of the bankruptcy crimes defined in the Law;
Furthermore, with the change that occurred at the end of 2020, the Rural Producer was also entitled to benefit from the Judicial Recovery procedure, as long as he presents his accounting records or even his personal income tax return proving the exercise of the activity within a period of no less than 2 years.
Finally, judicial recovery may also be requested by the surviving spouse, heirs of the Managing Partner, executor or remaining partner in the event of absence and/or death and opening of the succession.