Resumen de Brazil: Insolvency of foreign entities.

• The article reports that varied economic groups have been filing for judicial reorganization in Brazil, a process similar to chapter 11 of the US Bankruptcy Code. A foreign company could be liquidated as per Brazilian proceedings rather than through the law of its place of incorporation. Besides, foreign creditors that executed contracts abroad with a foreign entity, often under foreign law and subject to a foreign jurisdiction, would be entangled in Brazilian insolvency proceedings.