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Law no. 7/2018, of 2 March 2018 was published last Friday, establishing a new legal framework for conversion of credits into capital.
Approved as part of the Programa Capitalizar (Capitalize Program) and effective as of 3 March, the Act affords companies and their creditors an extrajudicial recovery and restructuring avenue to act swiftly with regard to the capitalization of companies in a weak financial position but that are economically viable.