Court-supervised reorganization corresponds to the process whose primary objective is to overcome a company’s economic and financial crisis to continue its commercial activity. This procedure allows a company in a vulnerable financial situation to get a breath to reorganize itself, as it enables the company, through a recovery plan, to negotiate payment terms consistent with its capacity.
In this context, Miguel Neto Advogados’ work extends both to companies interested in formulating the request for court-supervised reorganization, the assembly of the recovery plan, and legal representation in the records of the court-supervised reorganization proceedings and to creditors holding securities against companies in such situation.
Bankruptcy, in turn, can be seen as a collective enforcement action through which a company’s assets are cleared for payment of the liability represented by the claims presented by the creditors of such a bankrupt company. In this case, the bankrupt company’s creditors must file a proof of claim in the records of the bankruptcy case, which shall be paid according to a specific order of preference provided for by law, which considers the nature and type of the claim.
Again, our firm represents the interests of a bankrupt company and the creditors holding securities issued against companies in bankruptcy.