Best Restructuring & Insolvency Lawyers in Rio de Janeiro

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Saboia e Silva Advogados
Rio de Janeiro, Brazil

Founded in 2000
50 people in their team
Portuguese
English
O Saboia e Silva Advogados, não apenas praticamos direito — criamos soluções jurídicas sob medida.Nossa equipe é o ponto de confiança para líderes empresariais, investidores e indivíduos que valorizam confidencialidade, análise precisa e uma abordagem focada em resultados.🔹 Nossos...
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Licks Attorneys
Rio de Janeiro, Brazil

Founded in 2011
500 people in their team
Portuguese
English
Licks Attorneys is one of Brazil’s most respected law firms in litigation. Our commitment to clients is unprecedent in the country. We focus on complex litigation, often technology-driven disputes. Our lawyers have an outstanding track-record handling the most high-profile intellectual property...
Garrastazu Advogados
Rio de Janeiro, Brazil

Founded in 1999
200 people in their team
Portuguese
English
You are not alone!The Garrastazu team will guide you through each step of the processWhen you call Garrastazu and hear a friendly voice that is attentive to your problem… well, it will be our Team of Experts, inspired by the learnings of Dr. Artur Garrastazu Gomes Ferreira, our Founder and...
M&G Law Firm
Rio de Janeiro, Brazil

Founded in 2000
50 people in their team
Portuguese
English
Our HistoryA reliable, safe & professional officeThe law firm specialized in criminal procedural law (criminal enforcement court), criminal law, labor law, business law, corporate law, civil law and family law (successions) has the capacity to perfectly meet your and your company's legal...
ALDO ROCHA Advogados
Rio de Janeiro, Brazil

Founded in 1996
50 people in their team
Portuguese
English
Strategic advocacyA law firm that seeks to be unique and differentiated in solutions to the problems presented by our clients.With a qualified technical team, we are able to assist you and your company in the most diverse activities developed.We are located in the center of the city of Rio de...
Castro Magalhães Law Offices
Rio de Janeiro, Brazil

Founded in 1994
3 people in their team
Portuguese
English
General Practice in law. Since 1994 working for people,unions, companies, churchs and families. We are expert in labour, social and consumer law also with large experience in family and criminal law. Our office is close of our clients and we ear theirs needs and personal demand. We are in Rio de...
GTLawyers
Rio de Janeiro, Brazil

Founded in 2017
50 people in their team
English
Portuguese
French
GTLawyers - Your Strategic Legal Partner in BrazilAt GTLawyers, we pride ourselves on being a boutique full-service law firm based in São Paulo, with over a decade of experience delivering exceptional legal services. Our team comprises highly qualified lawyers with extensive expertise in...
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About Restructuring & Insolvency Law in Rio de Janeiro, Brazil

Restructuring and insolvency law in Rio de Janeiro, Brazil, is an essential area that focuses on businesses and individuals facing financial distress. The purpose of these laws is to provide structured legal frameworks for debt negotiations, court-supervised reorganizations, and, when necessary, the orderly winding up of insolvent entities. As a major economic hub, Rio de Janeiro frequently sees cases involving both local and international companies. Understanding the legal landscape is crucial for navigating financial challenges while aiming to maximize asset value and protect stakeholder interests.

Why You May Need a Lawyer

Navigating restructuring and insolvency matters in Rio de Janeiro can be complex and stressful. Common situations where legal help is essential include:

  • When your business is experiencing financial difficulties and needs to negotiate with creditors
  • If you need to file for court-supervised reorganization (Recuperação Judicial)
  • In cases where involuntary bankruptcy proceedings are threatened or initiated by creditors
  • When facing cross-border insolvency issues involving operations or assets outside Brazil
  • To assess and mitigate risks of personal liability for directors and officers
  • For creditors seeking to protect their claims and recover debts from insolvent entities
  • Advising on restructuring strategies, including debt workouts and asset sales

A skilled lawyer offers critical guidance, helps with compliance, negotiates settlements, prepares court filings, and represents your interests in judicial or extrajudicial proceedings.

Local Laws Overview

Brazilian insolvency and restructuring law is primarily governed by Federal Law No. 11.101/2005, known as the Bankruptcy and Business Restructuring Law. The city of Rio de Janeiro follows these national statutes, but local courts and authorities handle proceedings. Key aspects of the law include:

  • Judicial Reorganization (Recuperação Judicial): Allows financially distressed companies to seek court protection while negotiating a plan to pay debts and restructure operations.
  • Extrajudicial Reorganization: Enables companies to reach out-of-court agreements with creditors, which can be ratified by a judge and applied to dissenting minority creditors under certain conditions.
  • Bankruptcy (Falência): Involves the liquidation of company assets by a court-appointed trustee when recovery is deemed unfeasible.
  • Automatic Stay: Once a restructuring or bankruptcy filing occurs, creditors are generally prohibited from seizing assets or commencing collection actions.
  • Creditor Voting: For restructuring plans to be approved in court-supervised processes, creditors must vote according to statutory class groupings and majorities.
  • Cross-border Cases: Recent amendments have introduced rules and procedures to better address insolvency situations involving assets or creditors in other jurisdictions.

The Commercial Courts in Rio de Janeiro handle these disputes, with specialized judges versed in insolvency matters. Experienced local counsel is highly recommended to navigate both national laws and local judicial practices.

Frequently Asked Questions

What is the difference between judicial and extrajudicial reorganization in Brazil?

Judicial reorganization is a court-supervised process where a company in financial distress seeks protection and time to negotiate a recovery plan with creditors. Extrajudicial reorganization is negotiated out of court with creditors but can be ratified by a judge to bind dissenting creditors if certain thresholds are met.

Who can file for bankruptcy or reorganization in Rio de Janeiro?

Only business entities such as corporations, limited liability companies, and certain individual entrepreneurs can file for bankruptcy or reorganization. Regular individuals and some classes of insurance and financial institutions are excluded.

Does filing for bankruptcy stop all lawsuits and collections?

Yes, an automatic stay is typically granted, which halts most collection activities and lawsuits against the debtor while the restructuring or liquidation process is ongoing.

What is the role of the judiciary in insolvency proceedings?

The courts supervise the entire process, approve or reject recovery plans, appoint trustees, address creditor disputes, and oversee the liquidation and distribution of assets when necessary.

How long does a restructuring or bankruptcy process take in Rio de Janeiro?

The length varies depending on complexity: judicial reorganizations often take several months to years, while bankruptcy liquidations can take years due to asset sales and creditor disputes.

Are directors and officers personally liable for company debts?

Generally, directors and officers are not personally liable unless there is proven fraud, mismanagement, or misuse of company assets, in which case courts may hold them responsible.

What happens to employees during bankruptcy or restructuring?

Employee claims have preferential status. Wages, severance, and benefits are paid before most other creditors in bankruptcy proceedings.

Can foreign creditors participate in Rio de Janeiro insolvency cases?

Yes, foreign creditors have the right to file claims and participate in recovery plans, subject to Brazilian law and recent cross-border insolvency provisions.

What are the alternatives to formal insolvency proceedings?

Alternatives include private negotiations with creditors, informal debt restructuring, asset sales, or capital injections. Legal counsel can advise on the most suitable approach.

How can a lawyer help with cross-border insolvency matters?

A lawyer experienced in cross-border cases can coordinate with international counsel, ensure compliance with local and foreign laws, and facilitate recognition of foreign court orders if required.

Additional Resources

If you are seeking information or assistance regarding restructuring and insolvency in Rio de Janeiro, consider these resources:

  • Commercial Courts of Rio de Janeiro - Handles insolvency filings and provides public access to case files
  • OAB-RJ (Ordem dos Advogados do Brasil, Seção do Rio de Janeiro) - The local bar association, which can refer experienced insolvency lawyers
  • Receita Federal do Brasil - National tax authority, involved in claims during bankruptcy and restructuring cases
  • Brazilian Institute of Business Recovery Studies (IBR) - Promotes research and best practices in insolvency law
  • Sebrae-RJ - Offers guidance for small businesses confronting financial challenges

Next Steps

If you believe you require legal advice or face restructuring or insolvency issues in Rio de Janeiro, here is how you can proceed:

  • Gather all relevant financial records and documents for your business or individual matter
  • Prepare a summary of your situation and specific questions or concerns
  • Contact a qualified restructuring and insolvency lawyer with experience practicing in Rio de Janeiro
  • Schedule an initial consultation to discuss your options and determine the best course of action
  • Follow the legal guidance provided to ensure compliance with local laws and maximize your chances of a favorable outcome

Prompt legal advice is essential, as early intervention can improve prospects for negotiation and recovery while protecting your legal rights.

Lawzana helps you find the best lawyers and law firms in Rio de Janeiro through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Rio de Janeiro, Brazil - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.