Sociedade de Advogados - Porto - Lisboa

Amendments to the Companies´ Code of Insolvency and Recovery

Decree-Law nr. 57/2022 of the 25th August has been published in the Portuguese Official Gazette (Diário da República), introducing amendments to Articles 129 no. 1 and 130 no. 3 of the Companies´ Code of Insolvency and Recovery, regarding the processing of the incident of verification and graduation of credits in the insolvency process.

CIRE articles 129 and 130

This measure, provided from the Component 18 of the Recovery and Resilience Plan (“Economic Justice and Business Environment”), assigns to the insolvency administrator the responsibility to, along with the list of recognised credits, submit a proposal for their graduation. On the other hand, the judge, if they agree and in the absence of any objections, they will simply ratify both documents.

Until the entry into force of this decree law, the verification and graduation of credits was dependent on a Judge sentence, to be pronounced in the insolvency process. With this measure the Government intends to increase the efficiency of insolvency processes, making this incident more agile and faster.

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