Measures to Support and Expedite the Special Revitalization Proceedings and Payment Arrangements

Law No. 9/2022, of 11 January, which establishes measures to support and expedite the Special Revitalization Proceedings and payment arrangements, transposing Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019, and amending the Insolvency and Corporate Recovery Code, the Portuguese Companies Code, the Commercial Registration Code and related legislation, was published on the Official Journal.

Law No. 9/2022, of 11 January, enters into force 90 days after its publication. However, the legislator provided, under the transitional regime, that the Law is immediately applicable to proceedings pending on the date of its entry into force, except for the provisions of Articles 17-C to 17-F, 17-I and 18 of the Insolvency and Corporate Recovery Code, as amended by the law now published, which are only applicable to Special Revitalisation Proceedings initiated after the entry into force of Law 9/2022.

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[Photo by: Towfiqu Barbhuiya, available at unsplash.com]