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).
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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.
