With information from Valor Econômico newspaper.
Link to the original article: http://glo.bo/3NOicuU
Since 2020, the National Treasury Attorney General’s Office (PGFN) has made progress in negotiations to settle the debts of companies in judicial reorganization, resulting in the renegotiation of around R$60 billion. The number of companies regularized has tripled, reaching 30% of cases, thanks to a more collaborative approach by the PGFN, which aims for viable solutions to guarantee the sustainability of businesses and the preservation of jobs. The strategy involves setting limits on possible discounts and prioritizing agreements that benefit society, avoiding protracted litigation.
A significant example was the agreement signed with the Ulbra education network, conducted by the team at CPDMA – Cesar Peres Dulac Müller Advogados. The process faced challenges such as the suspension of the recovery plan during the pandemic, the need to sell assets and the transformation of Ulbra into a public limited company. Despite the difficulties, the collaboration between Ulbra, PGFN and the creditors reduced the debt from R$6.2 billion to R$622 million, guaranteeing the continuity of the institution and benefiting all parties involved.
“It was a slow process that required a proactive attitude from both the business owners and the regional and general prosecutors’ offices,” says Thomas Dulac Müller, a partner at CPDMA.
Other companies have also achieved significant solutions through tax transactions. Telexfree, for example, managed to reduce its tax debt of R$5 billion by 89%, making it possible to close its bankruptcy proceedings. In the case of Laginha, a conglomerate of sugar and ethanol mills, collaboration with PGFN enabled a 62% discount on the debt, making it possible to pay creditors and restructuring the company.
These examples show how the PGFN’s more collaborative stance has contributed to making the recovery of companies in difficulty possible, avoiding bankruptcy and promoting economic equilibrium.
“The transaction eliminates the argument of that businessman who says he wants to get it right but can’t,” adds César Augusto da Silva Peres, a partner at CPDMA.
These cases show how tax transaction initiatives have been fundamental in transforming crisis scenarios into concrete opportunities for recovery and sustainable growth for companies.