Considerations on the Pleading for Judicial Reorganization of Firms in Brazil

Abstract

Since the coming into effect of the current national legislation on the subject, in 2005, judicial reorganizations have assumed great importance in Brazil. The considerations brought forward in this study will specifically address the issues confronted by firms when considering pleading for judicial reorganizations, reviewing the requirements, conditions and information entailed to initiate proceedings. Subsequently, the criteria for granting the processing of reorganizations by the judiciary will be reviewed, as well as the legal implications of such decisions. Once the supporting technical background is provided, critical remarks will be made on the Brazilian legal framework and market behavior towards undertaking reorganization procedures.