New Bankruptcy and Business Recovery Law

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Designated by the Speaker of the Chamber of Deputies, Rodrigo Maia (DEM-RJ), to deal with the bill to reform the Judicial Recovery and Bankruptcy Law (Bill No. 10,220), Congressman Hugo Leal (PSD-RJ) presented, at the beginning of August, a proposal to change the text that had been sent to Congress by the government of Michel Temer and which, at the time, was harshly criticized in the legal community.

The text is a substitute for the bill and changes the 阿富汗数字数据 judicial recovery and bankruptcy processes . The original bill was considered by the private sector to be too broad and too favorable to the government and the Treasury Attorney General's Office.

The new version was suggested by experts in the area of ​​bankruptcy. The expectation is that the bill will make it easier for bankrupt entrepreneurs to start over, as well as make financing available for companies in recovery.

The incentive for new beginnings should be possible with the project that proposes to reduce the time needed for entrepreneurs to create new businesses after bankruptcy . Today, this period is five years and should be reduced to three.

The new version will avoid controversies and should address issues that have already been settled by higher courts. This would provide greater security for businesspeople that the practices will be approved by the judges involved, as long as they comply with the law.

On the other hand, some legal experts criticize some points of the new text. One of the main observations is that the IRS, the country's tax authority, has the possibility of filing for bankruptcy for companies that owe taxes.

The Public Treasury currently does not participate in the judicial recovery process and, according to the law currently in force, cannot file for bankruptcy either.

What can be done to obtain the amounts that were not paid is to file enforcement actions, which directly interferes with the legal issues of Business Law, as we will see below.

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Business (Commercial) Law Issues
With the current financial crisis , the scarcity of credit and the lack of investment capital resulting from the current economic downturn in Brazil, some companies have entered a critical debt scenario.

Aiming to resume economic activities and avoid bankruptcy, many lawyers focus on Business Law issues as a way of applying the judicial recovery of companies .

The professional specialized in Business or Commercial Law has full capacity to act assertively in cases of judicial recovery and bankruptcy law through financial expertise and auditing .