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Differences between judicial recovery and extrajudicial recovery

In the current scenario, many companies face financial challenges that threaten business continuity. To avoid bankruptcy, there are two legal processes provided for in Brazilian law: judicial recovery (RJ) and extrajudicial recovery (RE). Both aim at financial restructuring, but have different characteristics that can directly impact the company's recovery strategy. Judicial Recovery: RJ is a procedure that involves the intervention of the judiciary to enable the…

28/01/2025 | Article

Preliminary finding in corporate judicial recovery processes

In judicial recovery, monitoring the admissibility of the procedure is essential and must be carried out at the beginning. The judge must ensure, for example, that the debtor is still in business. To mitigate the risk of admitting recovery without the minimum requirements, the law provides for the possibility of the judge carrying out a “prior verification”. The measure is not mandatory, and it is up…

16/01/2025 | Article

What is bankruptcy?

Bankruptcy is the legal process by which a company is formally declared incapable of paying its debts and fulfilling its financial obligations. In practice, this means that the company has reached a state of insolvency, where its liabilities (debts) exceed its assets (assets and available resources) to the point where it is unable to continue operating. The purpose of bankruptcy is to protect the rights of…

26/12/2024 | Article

What is judicial recovery?

Judicial recovery is a process for companies in difficult financial situations, but which have the potential to recover. It offers these companies the chance to reorganize their activities, renegotiate debts with creditors and avoid bankruptcy, while still being able to maintain their operations and jobs. This process consists of the following steps: - Request for RJ: The company in difficulty files a request with the Court…

23/12/2024 | Article

What does the judicial administrator do?

The judicial administrator is appointed by the judge to help manage and oversee the judicial recovery and bankruptcy processes of companies. He or she is responsible for the first stage of credit verification, in which he or she analyzes which credits are subject to competition. In judicial recovery, he or she monitors the company that is trying to recover financially, ensuring that it follows the plan…

14/10/2024 | Article

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