bankruptcy
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Corporate Reputation and Bankruptcy Risk.
Introduction Relentless competition, market globalization, and an ever-increasing supply of products and services induce firms to strive to gain an edge over their peers (Castro & Lopez, 2006; Gotsi & Wilson, 2001). To do so, firms employ strategic...
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Latam wants Brazilian creditors in US bankruptcy proceedings
Airline Latam intends to include Brazilian creditors in its bankruptcy proceedings in the US. The six largest, which together represent more than $450 million in debt, have already been presented to the American court. The others are being contacted ...
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Tax authorities win superpower with new bankruptcy law
Brazilian tax authorities will have superpowers over judicial recovery cases as of this weekend once the new Judicial Reorganization and Bankruptcy Law comes into effect. They will be able to request the bankruptcy of a company under judicial reorgan...
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Firm Performance and the Strategic Components of Bankruptcy Reorganization Plans.
Introduction When a company faces failure in business, it usually follows one of two paths. The firm may seek an out-of-court agreement with its creditors, or it may go bankrupt. In the latter case, the firm may file for a liquidation bankruptcy, m...
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Bankruptcy filings set to reach record, but not now
The pandemic will produce a record number of bankruptcy filings in Brazil, experts say. Yet most of them add that the flood of filings will not come now, but in the second half. For now, negotiations prevail, with companies and creditors trying to un...
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Bankruptcy bill may include emergency measures because of pandemic
The bill to reform the Bankruptcy Law may gain an extra chapter, with specific emergency measures for the situation caused by the coronavirus pandemic. The draft to which Valor had access includes among the proposals the creation of a collective nego...
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Farmers to have specific rules for bankruptcy filings
Divergences between farmers and trading companies about bankruptcy filings by individual farmers made the federal government decide to organize the different proposals, trying to create specific rules for that group. The model being gestated is of "p...
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Latam expects to leave bankruptcy protection in 2021
Latam Airlines, Latin America's largest airline, ends 2020 expecting a gradual improvement in flights and revenue and projects to come out of bankruptcy protection in the second half of the next year. With a debt pile of almost $18 billion, the ...
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Chief Justice Fux's decision creates turmoil among bankruptcy lawyers
Luiz Fux, who took over as chief justice of the Federal Supreme Court (STF) on Thursday, dropped a veritable bomb into the world of bankruptcy proceedings when he ruled that companies need to have their tax obligations paid up before their restructur...
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The Usefulness of Operating Cash Flow for Predicting Business Bankruptcy in Medium-Sized Firms.
1 Introduction This paper examines a model based on accounting information derived from financial statements and that is mainly focused on one variable, operating cash flow (OCF), which is not frequently used in these studies. Furthermore, the study...
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Court decrees bankruptcy of Itapemirim
After a huge quandary with creditors, the road and air passenger transport group Itapemirim had its judicial reorganization converted into bankruptcy by the judge of the 1st Court of Bankruptcy and Judicial Recovery of the São Paulo Court of Justice,...
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Gol files for bankruptcy in U.S.
Brazilian airline Gol filed for Chapter 11 bankruptcy protection in the United States, with debts of R$20.3 billion. In recent days, the company tried to avoid bankruptcy protection, but, in the end, followed the same path as rivals Latam and Avianca...
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Paranapanema files for bankruptcy protection, lists R$450m debt
Listing a debt of R$450 million, copper products manufacturer Paranapanema and two subsidiaries filed for bankruptcy protection on Wednesday in the 1st Judiciary Administrative Region of São Paulo. With this, the company seeks protection to overcome ...
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Paranapanema files for bankruptcy protection, lists R$450m debt
Listing a debt of R$450 million, copper products manufacturer Paranapanema and two subsidiaries filed for bankruptcy protection on Wednesday in the 1st Judiciary Administrative Region of São Paulo. With this, the company seeks protection to overcome ...
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Estaleiro Atlântico Sul files for bankruptcy protection
Following nine months with operations practically shut down, Camargo Corrêa and Queiroz Galvão's Estaleiro Atlântico Sul (EAS) filed for bankruptcy protection on Thursday. It wants to restructure its approximately R$1.2 billion debt and hold at ...
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Chamber of Deputies discusses changing bankruptcy law
The bill to reform the Judicial Reorganization and Bankruptcy Law (Number 10,220, of 2018) underwent further changes, which are expected to be formally presented to the Chamber of Deputies this Tuesday by the rapporteur, Deputy Hugo Leal (Social Demo...
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Queiroz Galvão's real estate arm to file for bankruptcy protection
Queiroz Galvão Desenvolvimento Imobiliário (QGDI) - the real estate arm of the construction group - is expected to file for bankruptcy protection this Wednesday, Valor found out. Sources say that the move affects only the commercial and residential p...
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Camisaria Colombo files for bankruptcy protection
Apparel retailer Camisaria Colombo filed for bankruptcy protection in Mato Grosso. The filing happens after an attempt at an out-of-court restructuring that would begin repaying the company's debt of R$1.9 billion in March after a three-year gra...
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Bankruptcy cases take 16 years, pay little to creditors
Amid an increase in the number of bankruptcies in the country, an unprecedented study by the Brazilian Jurimetrics Association (ABJ) shows a dramatic scenario, especially for the creditors of companies in crisis. A case takes at least 16 years to fin...
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Bankruptcy protection filings could triple amid crisis
The pandemic may triple the number of bankruptcy protection filings in Brazil over the next few months, according to a new study by the Economy Ministry's Secretariat of Economic Policy. It is the most pessimistic scenario, with 3,513 companies ...
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Some companies in bankruptcy see crisis as chance to bounce back
Companies that before the covid-19 pandemic risked shutting down are seeing the crisis as an opportunity for rebirth. Mega Química and Contém 1g - both undergoing in-court restructuring - are clinging to the production of alcohol-based hand sanitizer...
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Infrastructure companies dominate bankruptcy proceedings
A study conducted by restructuring firm Alvarez & Marsal of data from the 20 largest judicial recoveries in the country shows these companies held an overall debt of R$242 billion in October 2019, up 62% from December 2018. Even if the restructuring ...
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Petrópolis files for bankruptcy protection
Grupo Petrópolis — owner of beer brands Itaipava, Crystal, Petra, and Black Princess — filed for a court-supervised reorganization on Monday. The court accepted the request and has already appointed the company’s bankruptcy trustees: Preserva-A...
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Livraria Cultura is closer to bankruptcy
Most creditors rejected changes in Livraria Cultura's judicial reorganization plan, which could lead the company to bankruptcy in the coming days. In June, the chain of bookstores had submitted an amendment to the plan approved in 2019, claiming...
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Developer João Fortes files for bankruptcy protection
Developer João Fortes Engenharia filed Monday night a judicial recovery petition, as the bankruptcy protection process is known in Brazil, in the Court of Justice of Rio de Janeiro (TJRJ). The group formed by 63 subsidiaries and special-purpose compa...