Renegotiation of BRL 60 Billion in Debt for Companies Under Bankruptcy Protection Regularized by PGFN

Imagem do artigo do valor sobre transação tributária e recuperação judicial de empresas

With information from Valor Econômico newspaper.
Original article link: http://glo.bo/3NOicuU http://glo.bo/3NOicuU

Since 2020, the National Treasury Attorney General’s Office (PGFN) has been advancing negotiations to regularize debts of companies under bankruptcy protection, resulting in the renegotiation of approximately BRL 60 billion. The number of regularized companies has tripled, reaching 30% of cases, thanks to a more collaborative approach from the PGFN, aimed at viable solutions to ensure business sustainability and job preservation. The strategy involves setting possible discount limits and prioritizing agreements that benefit society, avoiding prolonged litigation.

A significant example was the agreement reached with the Ulbra education network, led by the team at CPDMA - Cesar Peres Dulac Müller Advogados. The process faced challenges such as the suspension of the recovery plan during the pandemic, the need to sell assets, and Ulbra’s transformation into a corporation. Despite the difficulties, the collaboration between Ulbra, PGFN, and creditors reduced the debt from BRL 6.2 billion to BRL 622 million, ensuring the institution’s continuity and benefiting all parties involved.

It was a slow process that required proactive action from both the entrepreneurs and the regional and general attorney’s offices,” highlights Thomas Dulac Müller, partner at CPDMA.

Other companies also achieved significant solutions through tax transactions. Telexfree, for example, managed to reduce its tax debt from BRL 5 billion by 89%, enabling the closure of its bankruptcy process. In the case of Laginha, a conglomerate of sugar and ethanol plants, collaboration with the PGFN allowed a 62% reduction in debt, enabling creditor payments and making the company’s restructuring feasible.

These examples demonstrate how PGFN’s more collaborative approach has contributed to enabling the recovery of companies in distress, avoiding bankruptcy and promoting economic balance.

“The transaction eliminates the argument of business owners who claim they want to settle their debts but can’t,” adds César Augusto da Silva Peres, partner at CPDMA.

These cases show how tax transaction initiatives have been crucial in transforming crisis scenarios into concrete opportunities for recovery and sustainable growth for companies.

CPDMA Team

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Renegotiation of BRL 60 Billion in Debt for Companies Under Bankruptcy Protection Regularized by PGFN

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