Private law foundations cannot apply for judicial reorganization

Fundações de direito privado não podem solicitar recuperação judicial

In a recent decision1, the Superior Court of Justice (STJ) consolidated the understanding that private law foundations (which are non-profit organizations) do not have legal standing to file for judicial reorganization, under the terms of Law 11.101/2005, which regulates judicial reorganization and bankruptcies. What the Superior Court of Justice says The STJ pointed out that […]

Court accepts receivership of Starbucks and Subway operator in the country

In an interview with journalist Sérgio Ripardo, from Bloomberg Línea Brasil, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency area, commented on the decision by the judge of the 1st Bankruptcy and Judicial Recovery Court of São Paulo to accept the request for judicial recovery of the holding company SouthRock Capital. In the […]

STJ authorizes attachment of shares of debtor company in Judicial Reorganization

In a recent decision[1], the 3rd Panel of the Superior Court of Justice ruled that the creditor can seize shares of the debtor that are part of the share capital of a company undergoing judicial reorganization, given that the change in assets does not imply a reduction in the assets of the company being reorganized. […]

Maxmilhas files for judicial reorganization and blames the crisis on 123milhas, its owner

In an interview with Bloomberg Línea Brasil, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency department, commented on the request for judicial reorganization by Maxmilhas, which was acquired in January by 123milhas. With a debt of R$226 million, Maxmilhas wants to stop paying creditors and suppliers for a while, but intends to maintain […]

Company under judicial reorganization can reduce debt by 90%

In an interview with Valor Econômico, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency practice, commented on the Supreme Court’s decision allowing a discount for creditors who don’t provide bank details. The Superior Court of Justice granted a packaging manufacturer from Cotia (SP), in its judicial reorganization plan, a discount of 90% of […]

STJ decides that credit not qualified in RJ is subject to monetary restatement limit:

The 3rd Panel of the Superior Court of Justice, in a recent decision[1], held that although creditor qualification in judicial reorganization is not mandatory, unqualified claims are subject to a monetary restatement limit. The new jurisprudential understanding of Art. 9, item II of the Judicial Reorganization and Bankruptcy Law (Law No. 11.101/2005) stipulates that creditors’ […]