Judicial reorganisation
The insolvency procedure that allows the debtor's activity to continue on the basis of a reorganisation plan approved by the creditors and confirmed by the court.
Judicial reorganisation applies to a debtor in insolvency, with the aim of recovering the activity and paying the claims in accordance with a reorganisation plan. The plan may provide for operational restructuring, debt restructuring, the sale of certain assets or a combination of these measures.
For the duration of the reorganisation, the debtor continues its activity under the supervision of the judicial administrator, and the claims are paid under the conditions and at the times set out in the plan confirmed by the syndic judge.