By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – The number of companies in Brazil seeking judicial recovery in 2015 was the largest in the past ten years, according to data released by Serasa Experian, a credit and business research company. In all 1,287 companies that sought bankruptcy protection through a judicial recovery plan, 55.4 percent more than that registered in 2014.
“The deterioration of the economic recession, the increasing costs of credit and the appreciation of the U.S. dollar during the year levied financial burdens on companies, either through the decrease of cash flow generation . . .