Abstract
The updating of the judicial reorganization and bankruptcy legislation, law 11.101/2005, resulted in an increase 63.7% per year of judicial recovery from 2005 to 2018, but with a success rate of only 1%. The speed of launching new technologies tends to contribute to the crisis in companies, and to emerge from this crisis, companies must be aware of the financial indicators and, when necessary, request for judicial recovery at the same speed of technological changes.
Highlights
The legal order of recovery and bankruptcy of the company in difficulty are instruments by which the entrepreneur manages to overcome the situation of crisis in the execution of the economic activity, in order to promote the preservation of their company, or to carry out the regular closing of the company, assuring the social function of this economic activity. [1]The course of prescription when decreed a judicial recovery is 180 days, in this period, all executions of the company are suspended
One of the sources of instability for companies in recent years, which possibly will extend for years, is the high rate of breakthrough innovation, due to the emergence of new products and services based on innovative technology. This is what happened with the emergence of music streaming, according to the annual Pro-Music Brazil report this kind of services such as digital media and streaming like Spotify, Apple Music and YouTube had revenues of $ 178.6 million in Brazil in 2017, compared to $ 15.8 million millions of physics like CD and DVD [3]
This article will outline an overview of the American Law and the Brazilian Law, studying the peculiarities of each one, regarding the recovery of companies, pointing out some of the differences, similarities and contrasts between the laws of the two countries
Summary
The legal order of recovery and bankruptcy of the company in difficulty are instruments by which the entrepreneur manages to overcome the situation of crisis in the execution of the economic activity, in order to promote the preservation of their company, or to carry out the regular closing of the company, assuring the social function of this economic activity. [1]The course of prescription when decreed a judicial recovery is 180 days, in this period, all executions of the company are suspended. One of the sources of instability for companies in recent years, which possibly will extend for years, is the high rate of breakthrough innovation, due to the emergence of new products and services based on innovative technology This is what happened with the emergence of music streaming, according to the annual Pro-Music Brazil report this kind of services such as digital media and streaming like Spotify, Apple Music and YouTube had revenues of $ 178.6 million in Brazil in 2017, compared to $ 15.8 million millions of physics like CD and DVD [3]. Airbnb, according to research by the Foundation for Economic Research (Fipe), showed that Airbnb added R $ 2.5 billion to the Brazilian GDP in 2016, even though it still represented only 2.1% of the total number of guests in Brazil [4]
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