In an article published on the Folha de São Paulo website, our lawyer specializing in corporate restructuring, Dr. Camila Crespi, comments on Livraria Saraiva's request for bankruptcy in court.

Self-bankruptcy occurs when a company files for bankruptcy, explaining the reasons for the crisis that prevent it from continuing its operations. If the request is accepted during a judicial recovery process, the court can convert the case into bankruptcy. In this scenario, payments to creditors follow a legal order, according to art. 83 of Law 11.101/05, with priority given to labor credits, limited to 150 minimum wages (R$198,000) per creditor, according to Camila Crespi, our lawyer specializing in corporate restructuring.

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