Outside the Plan, Outside the Novation: What the STJ Decision Says About Extrajudicial Restructuring
The nature of out-of-court restructuring in Brazilian law. Out-of-court restructuring has become established in the Brazilian legal system as a faster and less costly mechanism for the recovery of companies in economic and financial crisis. Unlike judicial reorganization, which attracts all creditors subject to its effects, the out-of-court modality has an eminently contractual nature […]
Out-of-Court Recovery Under Discussion: The Recent Moves of Raízen and GPA and What This Reveals About Corporate Restructuring in Brazil
Market movements and changes in corporate restructuring: Recent moves involving Raízen and Grupo Pão de Açúcar (GPA) are noteworthy not only because of the size of the companies, but also because of the timing of their occurrence. Instead of waiting for the financial scenario to worsen, these groups are signaling a more strategic and proactive approach in […]
What is transnational insolvency and how is it regulated
By Vitor Antony Ferrari and Ivan Kubala* It is very common for large companies to have headquarters and assets in several countries, marketing their products and services all over the world. However, the internationalization of companies became a problem when, hit by financial crises, they filed for bankruptcy or judicial recovery. The big question was what […]