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Brazil rewrites its bankruptcy laws.
A After a decade of struggle, the Brazilian government is now finalizing sweeping reforms of the country's bankruptcy laws. The original draft of the proposed reforms was completed in the House of Representatives in October of 2003 and sent to the Senate. In July 2004, the Senate passed amendments to the bill. It is now back in the House, where a commission has been appointed to recommend changes to the Senate version and conduct a conciliation vote. Enactment will create a new business environment for Brazilian companies and their creditors.
The existing Brazilian bankruptcy law has been on the books since the mid-1940s, essentially in its current form. "The new ...
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Source: HighBeam Research, Brazil rewrites its bankruptcy laws.