Pursuant to the Brazilian Law, a company should file for judicial reorganization in order to overcome its economic-financial crisis and keep its production, employments and creditors’ payments. The company shall submit the reasons which led to its financial crisis situation. Thus, the company should attach to its request

1) evidence of the financial situation including the accounting assessment related to the last 3 years, balance sheet, net income statement, income statement since the last fiscal year and cash flow management report;

2) list of creditors, including labor, secured and unsecured creditors;

3) list of all company’s employees;

4) certificate of company’s regularity in the Public Registry of Companies and the updated by-laws or articles of association and minutes of appointment of current managers;

5) list of the shareholders and managers’ assets;

6) updated statements of the company banks accounts, including investments;

7) certificates issued by Protest offices located in company’s headquarter and where it has branches; and

8) list of all lawsuits filed against the company.

The Brazilian Law has not been modified yet based on the current situation faced with COVID-19 pandemic. However, there are some Court’s decisions adapting the procedural aspects based on the currently situation, such as: virtual meeting of the Creditor General Meeting, suspension of the Creditor General Meeting and extension of the stay period when creditors are forbidden to file or proceed with lawsuits against the debtor.