Private law foundations cannot apply for judicial reorganization
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 […]
In judicial reorganization, Bullguer has a plan to get out of the R$113 million crisis. Will it work?
In an interview with Exame journalist Daniel Giussani, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency department, commented on Bullguer’s restructuring plan to get out of the crisis. The company, which went into judicial reorganization just over a year ago, had its reorganization plan approved by its creditors in order to recover from […]
STJ decision establishes requirement of fiscal regularity for judicial reorganization to be granted
On October 17, 2023, the 3rd panel of the Superior Court of Justice (STJ) handed down a decision that marked a significant change in the interpretation of the need for tax compliance in order for judicial reorganization to be granted. The decision in question refers to Special Appeal No. 2.053.240/SP. Prior to this, the prevailing […]
Starbucks: termination of use of the brand by the parent company prompted request for reorganization
In an interview with Bloomberg Línea Brasil, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency practice, commented on the request for judicial reorganization by SouthRock Capital, the company that represents Starbucks in Brazil. On October 13, Starbucks notified SouthRock Capital of the immediate termination of the contracts. And, according to the expert, 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’ […]
Condominium credit is only extraconcursal if it comes after reorganization, STJ decides
In a recent decision[1], the 3rd Panel of the Superior Court of Justice unanimously ruled that claims for condominium debts prior to the filing for judicial reorganization are concurrent and must be paid under the terms defined in the judicial reorganization. In other words, Justice Marco Aurélio Bellize ruled that “condominium debts are included in […]
