Bankruptcy Postponement

Under art. 285 of the Enforcement and Bankruptcy Code, the debtor applies to the commercial court of first instance with a draft project, financial statements, list of creditors and expert report. If conditions are met, the court grants a provisional and then a definitive moratorium; enforcement proceedings are suspended during the moratorium (art. 294). A concordat commissioner supervises the process. The outcome depends on the specific evidence and the court's assessment; consult an attorney for your individual situation.

Law No. 7101 (15 March 2018) abolished bankruptcy postponement and broadened the concordat to make it the sole reorganisation tool. Bankruptcy postponement decisions issued earlier are governed by transitional provisions. The outcome depends on the specific evidence and the court's assessment; consult an attorney for your individual situation.