The Chamber is analyzing the Bill 4438/08, proposed by the Deputy Waldir Neves (PSDB-MS), which distrains the assets of chairs of bankrupt corporations, who had held that position for the last 12 months before the company filed bankruptcy; that distrainment will last until their responsibility in the process searching the causes for the bankruptcy is dismissed.

Waldir Neves highlights that there is currently no legal provision for the distrainment of assets of partners who are responsible for the bankruptcy.

“There is no forecast [in the new Bankruptcy Law (11.101/05)] for injunctions distraining the assets of the partners who were responsible for taking the corporation into bankruptcy”, affirms the deputy. That kind of measure, though, is provided for in the process of liquidation of financial institutions.

Evidence of fraud
According to the bill, the distrainment of assets will reach, in addition to the bankrupt himself, partners, directors, managers, administrators, counselors, the judicial administrator of the bankrupt company and other people who may have concurred in that bankruptcy.

If there is any evidence of fraud, a third party that may have acquired assets from leaders of the bankrupt corporation also may have the unavailability of their assets declared.

The distrainment will not reach inalienable assets, nor those transferred through sales contracts or releases, provided that, in the last two cases, the deal has been registered in a notary public.

Procedure
The bill will be analyzed in conclusive form by the Committees on Economic Development, Industry and Commerce; and on the Constitution and Justice and Citizenship.

Report- Edvaldo Fernandes
Editing- Newton Araújo
Translation - Positive Idiomas Ltda