Ten Years of the Brazilian Bankruptcy Law: Some Lessons Learned and Some Wishes for Improvement
نویسنده
چکیده
The Brazilian Bankruptcy Law—Law No. 11,101 of 2005 (“BBL”)—has just celebrated its 10th anniversary.2 It replaced the outdated bankruptcy law that had been in force since 1945. The BBL promoted a major overhaul of the Brazilian corporate insolvency system. It ultimately shifted from a liquidation-oriented and outdated legislation to embrace modern principles of corporate restructuring designed to rescue distressed but viable businesses.
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