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Debt Restructuring: an alternative to insolvency proceedings. Portuguese chapter

26 de diciembre, 2014

WHAT COURT MONITORED RESTRUCTURING PRE-INSOLVENCY PROCEEDINGS OR SCHEMES ARE DEVISED BY THE LAW OF YOUR COUNTRY TO LIMIT VALUE DESTRUCTION FOR FAILING BUSINESS ENTITIES?
The Portuguese Insolvency Act provides court-monitored restructuring pre-insolvency proceedings, named Special Revitalization Process (Processo Especial de Revitalização – PER), which was introduced by Act no. 16/2012, dated 20 April.
Failing business entities may also engage in an out-of-court pre-insolvency procedure, called SIREVE (Sistema de Recuperação de Empresas por Via Extrajudicial).



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