2023-11-24 18:44:17
The number of judicial recoveries in Brazil grew 59.6% in 2023 compared to the first eight months of last year. Between January and August this year, 830 requests for judicial recovery were requested. The data are from the most recent survey of the Serasa Experian Judicial Recovery and Bankruptcy Indicator.
Still according to data from the Feels like Experian, recovery requests grew 105.2% in May 2023. Micro and small companies (MSEs) were the most affected, with 68 requests, a significant number compared to the same time last year, with 36 requests. In the same vein, the services sector reached a record share in these requests for judicial recovery and bankruptcies.
Judicial recovery emerged in the Brazilian legal system following the publication of the Lei n.º 11,101/05. It is a procedure that allows companies of any size to renegotiate debts and suspend payment deadlines. Through it, companies can discuss with creditors a way out of possible economic and financial crises, preventing the company from closing its doors.
Lawyer Antônio Frange Junior, specialist in Business Law and Judicial Recovery, explains that the indebted company gets a period of time to continue operating while negotiating with its creditors, under the mediation of the Court. “The debts are frozen for 180 days and the operation is maintained. In judicial recovery, the company is required to present a restructuring plan, which must be approved by creditors”.
In 2020, the standard was complemented by the Lei 14.112/20which allowed expanding financing for companies in judicial recovery, executing installments and discounts for paying tax debts and enabling creditors to present a company recovery plan.
The lawyer emphasizes that, in addition to safeguarding the continuity of companies, judicial recovery guarantees the maintenance of jobs and the circulation of income. “Judicial recovery is very valid for the company, but it also has a social character. With companies continuing their activities, jobs are preserved and continue to be created”, concludes Frange.
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