Correction of credits in reorganization can have a diverse criterion from the law, as long as it is expressed in the plan.
The Third Chamber of the Superior Court of Justice (STJ) has decided that the criteria for updating credits can be defined by the general assembly of creditors differently from what is provided for in Article 9, item II, of the Law on Reorganization and Bankruptcy, as long as it is expressly stipulated in the judicial reorganization plan. Although, as a rule, the update of the credited amount in the recovery plan is limited to the date of the reorganization petition, according to the understanding of the rapporteur, Minister Marco Aurélio Bellizze, it is possible for the plan to establish a different rule regarding credit updates than the one provided by law. This is especially due to the contractual nature of reorganizarion, with the only restriction being the stipulation of a date prior to the reorganizarion petition.