Company in judicial recovery can reduce debt by 90%

In an interview with the vehicle Valor Econômico, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency area, commented on the decision of the Supreme Court of Justice that allows the application of a discount for creditors who do not provide bank details.

The Superior Court of Justice granted a packaging manufacturer from Cotia (SP), in its judicial recovery plan, a 90% credit discount on the total amount to be paid to its creditors. This measure is valid for creditors who do not pass on their bank details within a period of one year.

According to Leonardo Dias, if jurisprudence is pacified towards a monocratic decision, or other judicial precedents authorize the use of this discount clause, this type of measure could become more widely used.

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Leonardo Ribeiro Dias

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