Portugal

The Corona Crisis leads worldwide to critical situations for companies.
In light of this, Digitorney has asked lawyers from various countries specialized in restructuring law for recommendations on what needs to be done and which solutions are at hand to weather the Corona Crisis.
This part of our series focuses on Portugal:

1) When does a Portuguese company need to file for insolvency?

The file for insolvency may be made by the undertaking itself or by creditors who have claims over it. However, regardless of the entity making the request, a situation of insolvency occurs when a company is unable to meet its financial obligations. Such a situation is analysed by applying two different criteria: MORE

2) What liability risks exist for the management in Portugal in a corporate crisis?

Bearing in mind that the times we live in are of absolute uncertainty, there is no objective and direct answer to the posed question, given that regulation for this type of situations does not accompany their development. Nevertheless, and concerning this aspect, we will consider the legislation which is in force at the moment: MORE

3) Is there any state aid available for Portuguese companies due to the Corona crisis?

The Portuguese government approved a series of economic support measures for companies in Portugal: MORE

4) What immediate measures should a Portuguese company take if it is affected by the Corona crisis?

Given that the scenario we are living in has never been equated, there are numerous issues that managers of the most varied companies will have to take into consideration urgently. MORE

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