The recent increase in the number of filings by Brazilian entities for judicial reorganization in Brazil has sparked interest by U.S. investors and claimholders concerning the various pertinent provisions of Brazil’s bankruptcy law—the Nova Lei de Falências e Recuperação de Empresas, Lei No. 11.101/05 (Brazilian Bankruptcy Law),1 which became effective on June 9, 2005.
We previously authored two articles highlighting the judicial reorganization provisions of the Brazilian Bankruptcy Law in 2014 and 2015.2 Given the current economic and political environment in Brazil and the likelihood that additional judicial reorganizations will continue unabated, we thought it timely to review various provisions of the Brazilian Bankruptcy Law and provide additional details as to those statutory provisions not previously addressed.3
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