The number of requests for judicial reorganization in Brazil increased by 80% in the first four months of the year. Bankruptcy filings are also on the rise. According to Serasa, 90 were registered in April, an increase of 69.8% compared to the same month last year.
A proposal to reform the Bankruptcy Law is currently before the Senate, with the aim of simplifying and providing greater legal certainty, as well as increasing the decision-making power of creditors in the process.
In an article published by Correio Braziliense, Leonardo Ribeiro Dias, head of our Litigation, Arbitration and Insolvency practice, points out that, although no judicial reorganization rules will be changed in the reformulation, there is an expectation that it will also benefit from better choices by creditors.
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