On 24 December 2020, Law No. 14,112/2020 was signed by the President of the Republic and published in the Official Gazette, instituting the long-awaited reform of Law No. 11,101/2005, which deals with bankruptcies and company recovery procedures.
The approval and publication of the referred law brings to an end a long and intense cycle of proposals and debates that started in 2016, with the constitution by the Ministry of Finance of a working group with the objective of proposing amendments to the Bankruptcy Law. More recently, given the impact of the pandemic and under the leadership of Deputy Hugo Leal, the various proposals and bills relating to the Bankruptcy Law were brought together, resulting, at the end of the process, in Law No. 14,112/2020.
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