Judicial Recovery. Creditor may wait for the end of the judicial reorganization

Recently, in the judgment of REsp 1,851,692 in the Supreme Court of Justice, the precedent was set that creditors may wait for the end of the judicial reorganization to collect their credits, if for some reason their credits were excluded in the initial qualification.

The judgment is controversial and divides opinion. Let's see below.

According to art. 49 of Judicial Reorganization Law No. 11.101/2005, "All credits existing on the date of application, even if not overdue, are subject to judicial reorganization."

Also, according to the Law, when the creditor lists the credits, he must include all existing credits.

Eventually, one or another credit may not be included in the list, and then the STJ understood that the creditor of this credit cannot subsequently be compelled to subjugate his credit to the effects of the Judicial Reorganization.

Some important points from this precedent, in practice, are shown below:

• With this judgment, a modality of circumventing the Judicial Reorganization was instituted, since, if the creditor does not list his credit, he will later be able to execute it in the original copies, which is generally much faster.

• That the company under reorganization must be careful when preparing its list of creditors, as it may later have that credit executed in ordinary ways and this can be an unpleasant surprise

• Waiting for the end of the Judicial Reorganization can also mean a risk to the creditor, due to the statute of limitations, as there is no one who can guarantee that a judicial reorganization process.

Among the opinions of legal practitioners, there are those who agree and who harshly criticize the judgment.

On the one hand, some point out a fraud to the Judicial Reorganization Law, as shown in the 1st point above.

On the other hand, some claim that this precedent will make the companies under reorganization pay much more attention when listing their creditors, while not failing to include any creditors in the list.

Click and check the article published on the STJ website on the subject.