A pandemia acarretada pelo Covid-19 impactou severamente a atividade econômica, diante da necessidade de adoção de medidas cada vez mais restritivas com o objetivo de diminuir a curva de propagação do coronavírus.
O impacto econômico está sendo sentido por diversos setores da economia, sendo que a mudança abrupta no cenário financeiro surpreendeu o mercado como um todo e tem tornado cada vez mais difícil o cumprimento de obrigações pelas partes contratantes.
Since 2005, when the Bankruptcy Law was approved, the Brazilian market has been experiencing a continuous evolution of the operational aspects resulting from the restructuring or recovery processes of companies.
The crisis that has affected the Brazilian economy in recent years has considerably increased the number of companies that have had to restructure their debt, either by extending maturities, adding new collateral and sharing them or by means of a recovery plan.
Em dezembro de 2017, o Fórum João Mendes Júnior, na capital do Estado de São Paulo, inaugurou três novas varas, quais sejam: 1ª e 2ª Varas Empresariais e de Conflitos Relacionados à Arbitragem e a 3ª Vara de Falências e Recuperações Judiciais.
As novas varas especializadas terão competência para julgar ações que envolvam assuntos relacionados à propriedade industrial, concorrência desleal e franquia, as quais antes eram distribuídas para diferentes juízos da Capital.
Last 06 November 06, the Fourth Chamber of the Superior Court of Justice, in the judgement of the special appeal n° 1,733,685/SP, brought by Volkswagen Brazil's Automotive Industry Ltda. against Matalzul Industry and Commerce Ltda., understood that, even if there is an arbitration agreement between the parties, the bankruptcy filing based on default of credit title (in this case, duplicates under protest) does not need previous establishment of arbitration court.
Introduction
As extensively released in the press, the Brazilian air carrier Oceanair – Linhas Aéreas Ltda. (known as ‘Avianca’) filed for judicial reorganization, which is a debtorin-possession court supervised reorganization proceeding authorized under the Federal Law nr. 11,101 (‘Bankruptcy Law’).
Thomaz Bastos, Waisberg, Kurzweil Advogados and Pinheiro Neto Advogados have helped Máquina de Vendas close a deal to restructure its 3 billion reais debt (US$779 million), in what is thought to Brazil’s largest ever debt restructuring by a retailer.
Pinheiro Neto advised Máquina de Vendas’ founding partner, Ricardo Nunes.
At the III Commercial Law Conference held on June 7, 2019, the Council of the Federal Justice approved Precedent No. 104, according to which there will be no transfer of liabilities regarding financial penalties imposed under Law No. 12.846/2013 (Clean Company Act) on the acquirer of assets when the acquisition is based on article 60 of Law No. 11,101/2005 (Brazilian Restructuring and Bankruptcy Law).
Thomas Benes Felsberg, Felsberg Advogados
This is an extract from the 2020 edition of the Americas Restructuring Review, published by Global Restructuring Review. The whole publication is available here.
In summary