After years of debate, Brazil recently enacted legislation amending its bankruptcy statute and modernizing the Brazilian insolvency system. The new legislation provides new domestic tools to rescue distressed companies from disaster, including rules that enable DIP financing and allow creditors to propose a plan when the debtor's proposal is unsatisfactory.
Cross-Border Insolvency In Brazil: The UNCITRAL Model Law Dances to A Samba Beat
After years of debate, Brazil recently enacted legislation amending its bankruptcy statute and modernizing the Brazilian insolvency system.
By
Nyana Abreu Miller and Raul Torrao
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