Record Number of Brazilian Firms File for Judicial Recovery

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – In the first five months of this year judicial recovery requests in Brazil increased by 95 percent in comparison to the same period last year, according to a survey conducted by Serasa Experian. Unlike bankruptcy, judicial recovery is a court-approved rehabilitation procedure, whose main purpose is to preserve the company.

According to the credit analysis company 755 companies filed for judicial recovery protection, or judicial recovery, from January through May of 2016, the highest volume since the country’s new bankruptcy law was approved, in 2005. Last year 387 . . .

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