Portugal:
Extraordinary Business Viability Process
16 December 2020
Ana Bruno & Associados Sociedade de Advogados SPRL
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Law 75/2020 of 27 November was approved, creating the
Extraordinary Business Viability Process, which is a temporary,
extraordinary and urgent judicial
process, aimed exclusively at companies that are in a difficult
economic situation or insolvency, either imminent or current, as a
result of COVID-19, which aims at the approval by the Court of an
agreement reached extrajudicially between the company and its
creditors, also introducing new procedures in the context of
insolvency procedures, Special Revitalization Process (PER) and
Special Process for Payment Agreement (PEAP).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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