Art Society

In 9 of February of 2005 Law 11,101 was promulgated, call of Law of Recovery and Bankruptcy of Companies, with its sprouting it was extinguished figure of the forced agreement and included new rules relative the bankruptcy and two forms to prevent them: the judicial recovery and the extrajudicial one. The Law of Recovery and Bankruptcies, or only LRF, in art. By the same author: Richard Elman. 1 is specifies to determine that only the entrepreneur and the societies entrepreneurs are possible users of this law. On entrepreneur she is the organized natural person or legal who exerts economic activity professionally, already the societies entrepreneurs is that one consisting by two or more people, legal or natural, with the intention to get profits. If art.1 of the LRF is emphatical when determining the possible users of the law, art. 2 is equally emphatical when determining who cannot be using of the law, seno sees: Art.

2o This Law is not applied: I public company and society of mixing economy; II public or private, cooperative institution financial of credit, trust, entity of complementary providence, society operator immediate of assistance to the health, insuring society, legally equalized society of capitalizaton and other entities to the previous ones. The LRF makes use not only on the recovery or the bankruptcy, makes use that before any decreement of bankruptcy, it must before be tried to recoup it, therefore occurring the recovery will be preserved the company, the economic activity and the jobs bred. According to professor Vander Brusso Da Silva: ' ' The judicial recovery is an action that has for objective to make possible the overcoming of the situation of financial economic crisis of the company, in order to allow the maintenance of the producing source, of the employees and of the interests of the creditors, promoting the preservation of the company, its social function and I stimulate it the activity econmica.' ' (IT HISSES, 2005) Two types of recovery of companies exist, the extrajudicial way and the judicial one.

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