Restructuring & Insolvency in Brazil

Executive Summary

Brazil’s business insolvency framework is principally governed by Law No. 11,101 of 9 February 2005, as substantially amended by Law No. 14,112 of 2020. The law regulates three principal procedures for entrepreneurs and business companies: judicial reorganisation (recuperação judicial), out-of-court reorganisation (recuperação extrajudicial) and bankruptcy liquidation (falência). It is commonly known as the Brazilian Insolvency Law or Business Recovery and Bankruptcy Law.

Judicial reorganisation is a debtor-in-possession procedure designed to enable a viable debtor to overcome financial and economic crisis, preserve productive activity and employment, and satisfy creditor interests through a court-supervised recovery plan. On filing, the debtor may obtain processing of the case and a stay of enforcement actions. A court-appointed judicial administrator (administrador judicial) supervises the case and creditor process; the debtor generally remains in possession and management while presenting a plan for creditor consideration.

Out-of-court reorganisation is a pre-negotiated restructuring mechanism. The debtor negotiates a plan with relevant creditors, then seeks judicial homologation. A homologated plan can bind dissenting creditors within the affected class when the statutory approval threshold is met. Labour and employment claims and tax claims are outside the ordinary scope of the out-of-court recovery plan. The procedure is therefore distinct from judicial reorganisation and from a purely private workout.

Falência is the liquidation procedure. The debtor is removed from management after the bankruptcy adjudication, and a judicial administrator manages the estate, identifies and realises assets, administers claims and distributes proceeds under the statutory priority order. Brazil’s cross-border insolvency provisions, added by Law No. 14,112 of 2020, are based on the UNCITRAL Model Law. This page is a general reference record; current law, court decisions, state-court practice and individual facts govern outcomes.

INTERNATIONAL RESTRUCTURING & INSOLVENCY REGISTRY └── Federative Republic of Brazil └── Restructuring & Insolvency ├── Judicial Reorganisation ├── Out-of-Court Reorganisation ├── Judicial Administrator ├── Bankruptcy Liquidation ├── Creditors' General Meeting └── Cross-Border Insolvency

Object Identity

BrazilLegalInsolvency

A professional legal and commercial function for business distress, judicial recovery, out-of-court recovery, bankruptcy liquidation and creditor treatment.

Formal Routes

Judicial reorganisation
Out-of-court reorganisation
Bankruptcy liquidation
Cross-border insolvency

Core Institutions

State Courts
Judicial administrators
Creditors' General Meeting
Superior Court of Justice

Object Definition

Restructuring and insolvency in Brazil is the legal and commercial function through which business financial distress, judicial reorganisation, out-of-court reorganisation, bankruptcy liquidation, creditor rights, plan approval, estate administration and cross-border insolvency are handled under Law No. 11,101/2005. The object includes debtors, creditors, judicial administrators, creditors’ general meetings, plans, claims, assets, labour matters, tax context and international proceedings.

Definition	The legal and commercial discipline concerned with judicial reorganisation, out-of-court recovery, bankruptcy liquidation, creditor claims, judicial administration and cross-border insolvency in Brazil.
Object	Restructuring & Insolvency
Object Type	Professional Legal and Commercial Function
Classification	Financial Distress — Recuperação Judicial — Recuperação Extrajudicial — Falência — Creditor Rights — Cross-Border Insolvency
Jurisdiction	Federative Republic of Brazil, with state-court jurisdiction over business recovery and bankruptcy matters.

This registry object is editorial reference material. It is not legal, financial, accounting, tax, labour, securities or insolvency advice for a specific matter. Current law, state-court orders, judicial precedent and case facts govern individual outcomes.

Scope

This object covers the principal business insolvency procedures under Law No. 11,101/2005: judicial reorganisation, out-of-court reorganisation and bankruptcy liquidation. It addresses state courts, judicial administrators, creditors’ meetings, claims, plans, labour and tax context, asset realisation and cross-border insolvency. It does not provide complete treatment of consumer debt, financial-institution intervention, insurance liquidation, tax litigation, criminal matters or individual professional advice.

Covered Matters	Judicial reorganisation, out-of-court recovery, bankruptcy liquidation, court processing, stay effects, judicial administrator, creditor classes, creditor meetings, plan voting, claims, asset sales, distributions and Model Law-based cross-border insolvency.
Functional Boundary	The object concerns entrepreneurs and business companies in financial distress under Law No. 11,101/2005, rather than ordinary corporate administration, consumer insolvency, routine collection or general commercial disputes.
Related but Not Primary	Corporate finance, secured lending, distressed M&A, employment, tax, accounting, audit, valuation, litigation, arbitration, capital markets, competition, real estate, agribusiness, data and regulation may be relevant.
Outside Scope	Detailed consumer insolvency, special financial-institution or insurance resolution, criminal proceedings and case-specific professional advice.

Object Characteristics

Market Maturity	Established and modernised. Law No. 11,101/2005 created modern judicial and out-of-court recovery routes and was substantially updated by Law No. 14,112/2020, including cross-border insolvency rules and other restructuring reforms.
Evidence Strength	High for the core statutory framework. The official consolidated text of Law No. 11,101/2005 identifies the three principal procedures and their scope.
Standardisation Level	High for formal processes. Court filings, stay orders, judicial-administrator appointments, creditor claims, plans, creditors’ general meetings, voting, homologation, bankruptcy, asset sales and distributions follow statutory procedures.
Cross-Border Intensity	High. Brazil’s agribusiness, energy, mining, infrastructure, trade, finance, aviation, shipping, technology and multinational corporate activity create material cross-border restructuring issues.
Commercial Complexity	High. Matters may involve secured finance, corporate groups, labour claims, tax liabilities, real estate, agribusiness, public contracts, international creditors, foreign assets, arbitration and regulatory constraints.

Purpose and Primary Outcome

Law No. 11,101/2005 states that judicial reorganisation aims to enable a debtor to overcome financial and economic crisis in order to maintain the source of production, preserve employment and creditor interests, and promote preservation of the company, its social function and economic activity. Out-of-court recovery enables consensual restructuring with judicial effect. Bankruptcy promotes orderly liquidation and creditor payment.

Purpose	To preserve viable productive businesses and employment through judicial or out-of-court recovery where possible, while providing orderly bankruptcy liquidation and creditor distribution where recovery is not viable.
Primary Outcome	A court-granted judicial recovery plan, homologated out-of-court recovery plan, bankruptcy liquidation and distribution, or another statutory result.
Registry Focus	Law No. 11,101/2005, courts, judicial administrators, creditor classes, plans, claims, labour and tax context, assets, falência and cross-border proceedings.

Request Contexts

Brazilian business restructuring and insolvency matters may arise from payment default, liquidity stress, refinancing pressure, creditor enforcement, operating losses, group distress, tax liabilities, labour costs, commodity-cycle changes, project delay, supply-chain disruption, real-estate exposure or a need to preserve viable operations under judicial protection.

Identity Pattern	Brazilian entrepreneur, business company, corporate group, secured lender, bondholder, trade creditor, employee, shareholder, investor, purchaser, foreign parent or foreign representative.
Business Event	Financial crisis, judicial-reorganisation filing, court processing order, stay of actions, judicial-administrator appointment, creditors’ general meeting, plan vote, homologation, bankruptcy adjudication or asset sale.
Typical User	Directors, management teams, shareholders, lenders, bondholders, trade creditors, employees, judicial administrators, investors, purchasers, government counterparties and cross-border advisers.
Typical Scenario	A viable company files for judicial reorganisation; creditors vote on a recovery plan; a debtor seeks homologation of an out-of-court plan; a failed judicial recovery converts to falência; a foreign representative seeks recognition under Model Law provisions.

Typical Users and Scenarios

Directors and Management	Associated with corporate records, financial information, reorganisation filing, continued debtor-in-possession management, court obligations, plan preparation and cooperation with the judicial administrator.
Secured Lender	Associated with facility agreements, mortgages, pledges, fiduciary transfers, guarantees, priority, enforcement rights, creditor class and recovery-plan treatment.
Bondholder or Financial Creditor	Associated with debt instruments, security, claim verification, creditor class, general meeting participation, plan voting and bankruptcy distributions.
Trade Creditor	Associated with supply contracts, invoices, delivery evidence, claims, retention-of-title, set-off, ongoing supply and creditor-meeting participation.
Employee	Associated with employment records, wages, salary, severance, accident claims, social-security information, claim verification and statutory priority.
Judicial Administrator	Court-appointed professional who supervises the proceeding, supports creditor processes, verifies claims, reports to the court and carries out statutory functions in recovery or bankruptcy.

Key Authorities

Business recovery and bankruptcy matters are heard by state courts, generally in the court of the debtor’s principal establishment. Major commercial centres may have specialised business-recovery and bankruptcy courts. The judicial administrator is appointed by the court to perform statutory supervisory and administrative functions. The Creditors’ General Meeting considers and votes on recovery plans and other matters assigned by law.

State Courts	Exercise jurisdiction over judicial reorganisation, out-of-court plan homologation, bankruptcy and related business-insolvency proceedings under Law No. 11,101/2005.
Specialised Recovery and Bankruptcy Courts	Specialised state-court divisions may exist in major commercial centres; where none exists, general state commercial courts handle the relevant proceeding.
Superior Court of Justice	Brazil’s superior court for federal-law interpretation, relevant to insolvency jurisprudence and jurisdictional issues. Official portal.
Judicial Administrator	Court-appointed officer who supervises judicial recovery or administers falência, performs reports, claims and creditor functions and acts under statutory and court-defined authority.
Creditors’ General Meeting	Statutory creditor body that considers recovery plans and votes in classes in accordance with Law No. 11,101/2005.
Public Business Registry	Commercial registry records are relevant to enterprise identity, authority, corporate filings and notice context. Official business portal.

Applicable Legislation

Law No. 11,101/2005 is Brazil’s central business insolvency statute. It was substantially amended by Law No. 14,112/2020. Its application may interact with the Civil Code, Companies Law, labour law, tax law, security law, the Code of Civil Procedure, capital-markets regulation and sector-specific rules. Current law, court decisions and procedural orders govern individual matters.

Law No. 11,101 of 9 February 2005	Core statute regulating judicial reorganisation, out-of-court reorganisation and bankruptcy of entrepreneurs and business companies. Official consolidated text.
Law No. 14,112 of 2020	Substantially amended Law No. 11,101/2005, including reforms concerning financing, asset sales, tax, group issues and cross-border insolvency provisions.
Judicial Reorganisation	Statutory court-supervised debtor-in-possession recovery procedure focused on a recovery plan, creditor classes, voting and judicial grant.
Out-of-Court Reorganisation	Pre-negotiated plan process under Articles 161–167, submitted for court homologation and potentially binding dissenting creditors in affected classes when statutory support is achieved.
Bankruptcy Liquidation	Statutory falência process under which the debtor is removed from management, a judicial administrator administers the estate and assets are realised for creditor distribution.
Cross-Border Insolvency Provisions	Law No. 14,112/2020 introduced Model Law-based rules addressing foreign representatives, recognition, relief, cooperation and coordination in cross-border insolvency cases.

Process Flow

The process differs among judicial reorganisation, out-of-court recovery and falência. The general sequence below identifies common stages in a judicial-reorganisation or bankruptcy matter; it is not a substitute for current statutory deadlines, court rules or case-specific analysis.

1. Financial Position	Accounts, cash flow, assets, liabilities, financing, security, receivables, payables, employees, tax liabilities and business prospects establish the factual position.
2. Legal Position	Corporate authority, principal establishment, group structure, creditors, security, guarantees, contracts, employment, tax, regulatory and foreign connections are identified.
3. Procedure Classification	The debtor’s situation is considered within informal negotiation, judicial reorganisation, out-of-court reorganisation, bankruptcy liquidation or cross-border insolvency context.
4. Court Filing or Plan Submission	The debtor or eligible creditor files the relevant recovery or bankruptcy petition with the competent state court, or the debtor submits an out-of-court plan for homologation.
5. Processing Order and Appointment	The court grants processing of judicial recovery where requirements are met, triggers applicable stay effects and appoints the judicial administrator; in falência it adjudicates bankruptcy and appoints the administrator.
6. Plan, Claims or Estate Administration	Creditors submit claims; the judicial administrator verifies and reports; the debtor presents a plan or the estate is managed and assets are realised; creditors meet and vote where applicable.
7. Grant, Homologation, Distribution or Closure	The court grants judicial recovery, homologates an eligible out-of-court plan, administers bankruptcy distributions, concludes proceedings or issues another statutory order.

Reorganisation Procedures

Judicial reorganisation is a debtor-in-possession process. The debtor remains in control of business activity, subject to statutory restrictions, court supervision and oversight by the judicial administrator. A court processing order generally triggers a stay period for actions and enforcement against the debtor, subject to statutory exceptions. The debtor must present a judicial-reorganisation plan within the statutory period after publication of the processing order.

Creditors are divided into classes for plan voting, commonly including labour and employment creditors, secured creditors, unsecured creditors and micro or small enterprises. If the plan is approved by required majorities or otherwise satisfies statutory cram-down conditions, the court grants judicial reorganisation. Out-of-court reorganisation proceeds from pre-negotiation; the debtor obtains creditor approval within the affected class and seeks court homologation to bind covered creditors as permitted by Articles 161–167.

Procedure	Core Function	Administration	Primary Outcome
Judicial Reorganisation	Court-supervised recovery for a viable entrepreneur or business company through a plan that restructures covered debts and preserves productive activity.	Debtor-in-possession; judicial administrator supervises process, claims and reporting under court oversight.	Court grant of judicial recovery and implementation of the approved plan.
Out-of-Court Reorganisation	Pre-negotiated restructuring plan submitted for judicial homologation, potentially binding dissenting creditors within affected classes when statutory threshold is met.	Debtor negotiates and implements; court homologates where legal requirements are satisfied.	Homologated plan, debt restructuring and implementation outside a full judicial-recovery case.
Financing in Recovery	Law No. 14,112/2020 introduced and refined mechanisms relevant to debtor-in-possession financing and priority treatment, subject to statutory requirements and court approval.	Depends on debtor proposal, creditor rights, court orders and applicable law.	New funding that supports ongoing operations or implementation of judicial reorganisation.

Falência and Liquidation

Falência is Brazil’s bankruptcy-liquidation procedure. It may be initiated by the debtor, an eligible creditor or through conversion from judicial reorganisation in the statutory circumstances. On bankruptcy adjudication, the debtor is removed from management and the judicial administrator takes over estate administration. The administrator identifies property and liabilities, preserves and realises assets, verifies claims, investigates matters where required and distributes proceeds according to the statutory hierarchy.

Asset sales may involve the business as a whole, productive units or individual assets. Law No. 14,112/2020 introduced reforms intended to improve asset-sale procedures and legal certainty for purchasers under applicable conditions. Claims are classified and paid in the statutory order; the treatment of labour, secured, tax, unsecured and subordinated claims must be assessed under current Article 83 and related law.

Opening	The competent state court adjudicates falência on a qualifying debtor or creditor application, or converts judicial reorganisation in the circumstances provided by law.
Judicial Administrator	Court-appointed office-holder who administers the bankruptcy estate, takes control of assets and records, verifies claims, realises property and manages statutory distributions.
Claims	Creditors submit claims with supporting documents. The judicial administrator prepares lists and reports; objections and judicial determinations follow the statutory process.
Estate Records	Assets, liabilities, books, records, contracts, security, employees, tax, receivables, intellectual property, litigation, group interests and foreign connections are identified.
Asset Sale	The business, productive units or individual assets may be sold pursuant to statutory and court-approved processes.
Distribution	Proceeds are distributed under the Article 83 priority framework, after applicable estate and administrative costs, subject to current law and verified claims.

Decision Tree

Establish whether the debtor is an entrepreneur or business company in financial and economic crisis, and identify cash flow, due debts, assets, liabilities, security, employees and business viability.
Identify the debtor’s principal establishment, corporate authority, group structure, creditors, guarantees, contracts, employment, tax, regulatory, asset and foreign connections.
Determine whether a consensual workout, judicial reorganisation, out-of-court reorganisation, falência or Model Law-related application is relevant.
For judicial reorganisation, identify statutory eligibility, court petition materials, plan preparation, stay effects, proposed financing, creditor classes and voting requirements.
For out-of-court reorganisation, identify affected creditor classes, pre-negotiated support, excluded claims, plan content and court-homologation requirements.
For falência, identify the statutory basis, court procedure, judicial administrator, estate, asset sale, claims, priority, distributions and conclusion requirements.

Timeline

Duration depends on the procedure, court calendar, company scale, financial records, creditor composition, plan negotiation, asset complexity, labour and tax issues, litigation, financing and cross-border exposure. Judicial reorganisation includes statutory time periods, including a plan-filing period after publication of the processing order and a stay period subject to statutory rules and extensions. The sequence below is descriptive rather than a case-specific timetable.

Financial Distress	Liquidity pressure, payment default, refinancing failure, creditor enforcement, tax or labour pressure, operating losses or group stress is identified.
Information Assembly	Financial, corporate, creditor, security, contract, asset, employment, tax, regulatory and foreign records are compiled.
Petition or Plan Filing	The debtor files for judicial reorganisation or submits an out-of-court plan for homologation; a debtor or creditor may seek falência where statutory grounds exist.
Court Processing and Appointment	The court grants processing, applies relevant stay effects and appoints a judicial administrator, or adjudicates bankruptcy and appoints the administrator.
Plan or Estate Stage	Claims, creditor lists, reports, creditor meetings, plan terms, financing, operations, assets, employee matters, tax and estate administration are addressed.
Grant, Homologation or Liquidation	The court grants recovery, homologates an eligible plan, converts to falência where applicable, or proceeds through asset sales, distributions and closure.

Required Documents

Document requirements depend on the procedure, debtor type, court direction, creditor position, statutory eligibility and factual issues. The categories below commonly support a Brazilian judicial recovery, out-of-court recovery or bankruptcy matter.

Financial Records	Financial statements, management accounts, cash-flow forecasts, debt schedules, bank information, receivables, payables, budgets, tax and labour or social-security records.
Corporate Records	Commercial Registry extracts, articles, shareholder and board records, powers of attorney, signing authority, group charts, public-company disclosures and corporate approvals.
Creditor and Debt Schedule	Creditor identity, amount, maturity, security, guarantees, dispute status, class, contact information and supporting evidence.
Finance and Security Documents	Facility agreements, fiduciary transfers, mortgages, pledges, guarantees, security documents, account arrangements, intercreditor terms and financing correspondence.
Reorganisation Materials	Petition, statutory financial records, recovery plan, creditor-class analysis, business projections, valuation material, financing proposal, judicial-administrator reports and court filings.
Employment Records	Employee lists, wage and salary records, severance, accident claims, pension, social-security, collective bargaining and payroll records.
Asset Register	Inventory, receivables, equipment, real estate, shares, intellectual property, data, licences, insurance, contracts, vehicles, productive units and litigation or recovery claims.

Creditor, Employee and Priority Considerations

Creditor treatment depends on the procedure, claim classification, security, statutory priority, contractual rights, court orders and claim verification. In judicial reorganisation, covered claims are classified for plan voting and treatment. In out-of-court reorganisation, the plan applies to selected permissible claim classes. In falência, distributions follow the statutory priority order in Article 83, subject to current law and case-specific claim verification.

Labour claims and claims arising from workplace accidents receive high priority in falência. Under the post-reform statutory framework, labour claims are subject to the statutory per-creditor cap, while workplace-accident claims are not subject to that cap. Secured claims rank up to the value of collateral, followed by tax claims and other statutory categories. Labour and employment claims are excluded from the standard out-of-court reorganisation plan framework. Precise ranking and scope must be confirmed against current law and the facts of each claim.

Secured Claims	Security is identified through fiduciary transfers, mortgages, pledges, guarantees, financing documents, registration records and applicable priority rules.
Judicial Reorganisation Claims	Covered claims are classified and addressed under the plan, creditor-class voting, court grant and statutory exceptions or exclusions.
Out-of-Court Claims	Out-of-court plans may cover unsecured and secured claims, subject to statutory limits; labour and employment claims and tax claims are outside the standard plan scope.
Bankruptcy Claims	Claims are submitted, verified and paid from estate proceeds according to the Article 83 priority waterfall and related statutory provisions.
Employee Claims	Labour claims, workplace-accident claims, wages, salary, severance, social-security and employment records are material. Priority and caps are determined under current law.
Disputed Claims	Contracts, invoices, delivery evidence, account statements, correspondence, security documents and calculations establish the record for verification, objection or judicial determination.

Cross-Border Relevance

Brazil’s trade, agribusiness, energy, mining, aviation, infrastructure, finance, technology and multinational group relationships make international insolvency significant. Law No. 14,112/2020 added a cross-border insolvency chapter to Law No. 11,101/2005 based on the UNCITRAL Model Law. The framework includes foreign representative access, recognition of foreign proceedings, relief, cooperation and coordination of concurrent proceedings, subject to Brazilian public policy and statutory rules.

Model Law Framework	Law No. 14,112/2020 introduced Model Law-based cross-border insolvency provisions into Law No. 11,101/2005.
Foreign Representative Access	A foreign representative may seek direct access to Brazilian courts in connection with a qualifying foreign insolvency proceeding, subject to the statutory framework.
Recognition	The framework distinguishes foreign main proceedings and foreign non-main proceedings and provides for recognition and applicable relief through the competent Brazilian court.
Cooperation and Coordination	Brazilian courts and judicial administrators may cooperate with foreign courts and representatives, and statutory coordination principles apply to concurrent Brazilian and foreign proceedings.
Foreign Companies	Relevant records may include Brazilian subsidiaries, branches, assets, employees, bank accounts, security, trade contracts, agribusiness interests, licences, data, intellectual property, tax and regulatory positions.
Language	Portuguese is the language of Brazilian court proceedings and official records. English is commonly used in international financing and transaction documentation but may require sworn translation and formal evidential treatment.

Operating Constraints and Risks

Timing Constraint	The timing of distress, judicial filing, payment, security creation, asset transfer, financing, plan submission, creditor action and bankruptcy request can be material.
Eligibility Constraint	Judicial reorganisation applies to qualifying entrepreneurs and business companies that meet statutory requirements, including the regular-operation requirement and other Article 48 conditions.
Procedure Selection Constraint	Judicial reorganisation, out-of-court reorganisation and falência have materially different scope, management, creditor, stay, plan, control and outcome features.
Funding Constraint	Cash for payroll, suppliers, tax, social security, utilities, systems, insurance, premises, professional work and business continuity can affect viability and available options.
Priority Constraint	Security, estate costs, labour claims, tax liabilities, statutory priorities, fiduciary transactions and disputed claims can affect recoveries and distributions.
Cross-Border Constraint	Foreign assets, creditors, group entities, international financing, agribusiness or commodity contracts, governing-law clauses, foreign proceedings and regulatory permissions can add complexity.

Costs and Fees

Costs vary by procedure, state-court requirements, debtor scale, assets, creditor composition, record quality, workforce, plan complexity, judicial-administrator work, litigation, tax and cross-border exposure. Judicial-administrator remuneration and professional expenses are determined under the statutory framework and court orders. This record does not state case-specific fee levels.

Court and Filing Costs	Costs associated with state-court petitions, notices, publications, hearings, creditor meetings, plan filings, bankruptcy requests and statutory documentation.
Judicial Administrator Costs	Costs associated with court-appointed administrator work, claims, reports, creditor processes, plan oversight, estate administration, asset sales and distributions.
Professional Work	Legal, financial, accounting, tax, labour, valuation, forensic, regulatory, communications, investment-banking and transaction work connected to the matter.
Operating Costs	Payroll, suppliers, tax, social security, utilities, systems, insurance, premises, asset preservation, agribusiness or project operations and continuing-business costs.
Disputes and Recovery	Costs relating to claims, security, litigation, arbitration, asset recovery, investigations, tax disputes, avoidance issues and foreign proceedings.

Frequently Asked Questions

What are Brazil’s three principal business insolvency procedures?	Law No. 11,101/2005 regulates judicial reorganisation, out-of-court reorganisation and bankruptcy liquidation of entrepreneurs and business companies.
What is recuperação judicial?	It is a court-supervised, generally debtor-in-possession recovery procedure designed to enable a viable debtor to overcome financial crisis through a creditor-approved and court-granted plan.
Does judicial reorganisation provide a stay?	A court processing order generally triggers a stay of actions and enforcement against the debtor, subject to statutory exceptions, time limits and current legal rules.
What is recuperação extrajudicial?	It is a pre-negotiated debt-restructuring plan submitted for court homologation. It may bind dissenting creditors within an affected class when the statutory approval threshold is met.
Are labour and tax claims included in out-of-court recovery?	Labour and employment claims and tax claims are outside the standard scope of an out-of-court recovery plan under the statutory framework.
What is falência?	Falência is the bankruptcy-liquidation procedure in which the debtor is removed from management and a judicial administrator manages the estate, realises assets and distributes proceeds.
Who votes on a judicial reorganisation plan?	Creditors vote through statutory classes at the Creditors’ General Meeting, subject to the approval thresholds and court review prescribed by Law No. 11,101/2005.
Does Brazil have cross-border insolvency rules?	Yes. Law No. 14,112/2020 added Model Law-based cross-border provisions to Law No. 11,101/2005, including foreign representative access, recognition, relief, cooperation and coordination.
Is this page legal advice?	No. It is a neutral registry reference and does not determine the legal position or outcome in an individual matter.

Related Professional Areas

Brazilian restructuring and insolvency matters can involve multiple adjacent professional fields because business distress affects financing, security, employment, tax, assets, corporate control, agribusiness, contracts, regulation, data and international operations.

Corporate finance and secured lending; fiduciary transfers and security; distressed M&A; employment and labour; tax and social security; accounting and audit; commercial contracts; litigation and arbitration; corporate governance; capital markets; competition; real estate; agribusiness; energy and infrastructure; intellectual property; data protection; valuation and cross-border asset recovery.

Practical Guidance

This section identifies record categories commonly used to classify and retrieve Brazilian restructuring and insolvency materials. It is not a direction to undertake a particular action in an individual matter.

Core Financial Records	Financial statements, management accounts, cash-flow forecasts, debt schedules, bank data, receivables, payables, budgets, tax, labour and social-security records.
Creditor Records	Creditor schedules, invoices, supply contracts, facility agreements, fiduciary-transfer documents, mortgages, pledges, guarantees, account statements, correspondence and claim calculations.
Corporate Records	Commercial Registry information, articles, shareholder and board records, powers of attorney, signing authority, group charts, public disclosures and corporate approvals.
Operational Records	Customer, supplier, project, lease, licence, employment, insurance, IT, outsourcing, logistics, agribusiness, energy, data and material operating contracts.
Cross-Border Records	Foreign entity information, overseas assets, governing-law clauses, international finance and security, foreign proceedings, trade contracts, commodity arrangements, licences and regulatory permissions.

Jurisdictional Expert

This registry position is distinct from the editorial record. Its availability or assignment does not alter the independent editorial content of this page.

Registry Position ID	RE-BR-RI-001
Registry Position	Jurisdictional Expert — Restructuring & Insolvency Brazil
Registry Availability	Open
Verification Status	No verified participant currently assigned to this registry position.
Coverage	Brazil judicial reorganisation, out-of-court recovery, bankruptcy liquidation, creditor classes, judicial-administrator practice, labour and tax context and cross-border insolvency.
Registry Reference	IRR-BR-RI-001-A Jurisdictional Expert Position
Contact Information	Registry position not yet assigned.

Machine Layer

Object DNA	restructuring insolvency brazil law-11101 judicial-reorganisation recuperacao-judicial out-of-court-reorganisation recuperacao-extrajudicial falencia judicial-administrator creditors-general-meeting cross-border-insolvency uncitral-model-law
AI Retrieval Summary	Neutral registry object explaining Brazilian business restructuring and insolvency under Law No. 11,101/2005 as amended, including judicial reorganisation, out-of-court reorganisation, falência, judicial administrators, creditor classes, recovery plans, labour and tax context, asset liquidation and Model Law-based cross-border insolvency provisions.
Entity Index	Brazil; Federative Republic of Brazil; Law No. 11,101/2005; Law No. 14,112/2020; judicial reorganisation; recuperação judicial; out-of-court reorganisation; recuperação extrajudicial; bankruptcy; falência; judicial administrator; administrador judicial; Creditors’ General Meeting; principal establishment; Article 48; Article 83; state courts; Superior Court of Justice; foreign main proceeding; foreign non-main proceeding; UNCITRAL Model Law.
Machine Metadata	Registry rendering layer: https://insolvencyregistry.org/css/registry.css — Object ID: BR.RI.001 — Machine Reference: IRR-BR-RI-001-A — Internal Classification: Business > Legal & Commercial > Restructuring & Insolvency > Brazil.
Editorial Notice	Reference material only; not legal, financial, accounting, tax, labour, securities or insolvency advice. Current Law No. 11,101/2005 text, judicial precedent, state-court orders and case facts govern individual outcomes.