Post by xyz3800 on Feb 28, 2024 5:00:52 GMT -5
Regardless of authorization from the competent court, companies undergoing judicial recovery may enter into factoring contracts during the recovery process. The decision was made by the 3rd Panel of the Superior Court of Justice to reform the ruling of the Court of Justice of São Paulo and remove the restrictions imposed on three companies. The rapporteur, Minister Nancy Andrighi, explained that the social affairs of companies undergoing judicial recovery remain managed by them during the recovery process, unless any of the legally foreseen causes of removal or dismissal are verified. According to the minister, article 66 of the Business Bankruptcy and Recovery Law (Law 11,101/2005) imposes on the debtor certain restrictions regarding the practice of acts of alienation or encumbrance of goods or rights to their permanent assets, after the recovery request.
Nancy Andrighi highlighted that the assets sold as a result of factoring contracts (credit rights) do not form part of any of the subgroups that make up the company's permanent assets, as they cannot be classified in the categories of investments, fixed assets or deferred assets. “Thus, whether credit rights (depending on their maturity) are classified as current assets or as long-term assets, the Exit Mobile Number List fact is that, as such items cannot be classified in the permanent asset category, the restriction on the execution of credit contracts factoring by a company undergoing judicial recovery is not covered by the normative command of article 66 of the Bankruptcy and Business Recovery Law”, he highlighted.
For the rapporteur, commercial development contracts, as they provide a significant reinforcement in obtaining working capital (helping as a liquidity factor), can serve as an important ally for companies seeking to overcome the economic-financial crisis situation. With information from the STJ Press Office.By majority, the members of SDI-2 followed the rapporteur's vote. Ministers Alexandre Luiz Ramos, who dismissed the appeal, were defeated, as well as Renato de Lacerda Paiva and Lelio Bentes Corrêa, who established a 10% attachment on the company's net income, and Douglas Alencar Rodrigues, who voted to apply a 10% garnishment of net operating profit. With information from the TST Press Office.Therefore, to understand the importance of criminal compliance in preventing crimes against the tax system and money laundering, a synthetic analysis of both Law 8,137/90 — which provides for crimes against the tax system — and Law 9,613/ 98 — which provides for money laundering crimes.
Nancy Andrighi highlighted that the assets sold as a result of factoring contracts (credit rights) do not form part of any of the subgroups that make up the company's permanent assets, as they cannot be classified in the categories of investments, fixed assets or deferred assets. “Thus, whether credit rights (depending on their maturity) are classified as current assets or as long-term assets, the Exit Mobile Number List fact is that, as such items cannot be classified in the permanent asset category, the restriction on the execution of credit contracts factoring by a company undergoing judicial recovery is not covered by the normative command of article 66 of the Bankruptcy and Business Recovery Law”, he highlighted.
For the rapporteur, commercial development contracts, as they provide a significant reinforcement in obtaining working capital (helping as a liquidity factor), can serve as an important ally for companies seeking to overcome the economic-financial crisis situation. With information from the STJ Press Office.By majority, the members of SDI-2 followed the rapporteur's vote. Ministers Alexandre Luiz Ramos, who dismissed the appeal, were defeated, as well as Renato de Lacerda Paiva and Lelio Bentes Corrêa, who established a 10% attachment on the company's net income, and Douglas Alencar Rodrigues, who voted to apply a 10% garnishment of net operating profit. With information from the TST Press Office.Therefore, to understand the importance of criminal compliance in preventing crimes against the tax system and money laundering, a synthetic analysis of both Law 8,137/90 — which provides for crimes against the tax system — and Law 9,613/ 98 — which provides for money laundering crimes.