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A insolvência nos grupos de sociedades
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Da análise do regime português da insolvência podemos observar que, ao longo da sua evolução e de forma a responder às necessidades das épocas, o regime sofreu várias alterações, umas mais significativas que outras, mas sempre assentes num de dois sistemas. Ora num sistema de falência – liquidação, baseado na liquidação do património do falido; ora num sistema de falência – saneamento, com primazia pelos mecanismos de recuperação da empresa. No momento atual, o tratamento da insolvência feito no Código da Insolvência e da Recuperação de Empresas privilegia, aparentemente, a recuperação do devedor, embora ao longo do código não encontremos disposições que concretizem essa prevalência.
Apesar das várias alterações que foram feitas no regime da insolvência, o fenómeno dos grupos de empresas em situação de insolvência contínua por regulamentar. A carência de uma regulamentação especial deste fenómeno implica que cada sociedade tenha de ser considerada em separado.
Devido ao seu enorme crescimento e importância económica, os grupos empresariais constituem uma realidade corrente que merece um tratamento adequado. O disposto no n.º 2 do art. 86.º, do Código da Insolvência e da Recuperação de Empresas (CIRE) não é suficiente para resolver todas as questões que surgem neste âmbito, uma vez que se trata de uma norma que carece de desenvolvimento concretizador.
Entendemos ser necessário aplicar, nestas situações de insolvência de sociedades agrupadas, um critério diferente do adotado para a insolvência de uma sociedade isolada, no sentido de haver uma coordenação dos processos de insolvência, através da criação de uma regulamentação mais precisa para a figura da apensação de processos de insolvência e a admissibilidade de uma consolidação substantiva das massas insolventes e liquidação conjunta, sempre que os princípios da igualdade de credores e tutela da aparência o exigirem, de forma a corrigir os resultados negativos de uma aplicação rígida do princípio da separação das sociedades. Deve ser criada uma coordenação eficiente entre os processos de modo a estabelecer resultados equitativos para todos os credores.
When examining the Portuguese insolvency regime one can notice that through its evolution, the regime was subjected to several changes in order to keep up with the needs of the times. Some of these changes were more significant than others but they all were based in one of two systems: the bankruptcy system – liquidation which consists of liquidating the bankrupt’s assets; the bankruptcy system – sanitation, which emphasizes on a company’s own mechanisms for regeneration. Nowadays, the insolvency process taken in Portuguese Insolvency and Recovery Code (CIRE), apparently gives preference to the bankrupt own means for recovering, although, throughout the code, one cannot find a disposition on going forward with this preference. Despite the several changes made in the insolvency regime, there is still a need to regulate corporate groups that are in an insolvency situation. The lack of proper regulation to this phenomenon implies that each Society has to be considered separately instead of as a group. Due to the huge growth and economic importance of corporate groups, the insolvency process for them requires proper and specific handling. The 2nd term in the 86º article of CIRE isn’t enough to deal with all the questions that may come up in this domain, this rule lacks on further development. There is a need to apply, in these insolvency situations of corporate groups, a different criterion from the one adopted in single companies, in an effort to achieve coordination between insolvency processes. This can be reached through the creation of a sharper regulation for this joinder of processes and the eligibility of a substantive consolidation of insolvent masses and joint liquidation, whenever the principles of equality of creditors and tutelage of appearance require; this will correct and improve the negative results of a strict application of the separation of society’s principle. An efficient coordination between processes must be created to establish equitable results for all creditors.
When examining the Portuguese insolvency regime one can notice that through its evolution, the regime was subjected to several changes in order to keep up with the needs of the times. Some of these changes were more significant than others but they all were based in one of two systems: the bankruptcy system – liquidation which consists of liquidating the bankrupt’s assets; the bankruptcy system – sanitation, which emphasizes on a company’s own mechanisms for regeneration. Nowadays, the insolvency process taken in Portuguese Insolvency and Recovery Code (CIRE), apparently gives preference to the bankrupt own means for recovering, although, throughout the code, one cannot find a disposition on going forward with this preference. Despite the several changes made in the insolvency regime, there is still a need to regulate corporate groups that are in an insolvency situation. The lack of proper regulation to this phenomenon implies that each Society has to be considered separately instead of as a group. Due to the huge growth and economic importance of corporate groups, the insolvency process for them requires proper and specific handling. The 2nd term in the 86º article of CIRE isn’t enough to deal with all the questions that may come up in this domain, this rule lacks on further development. There is a need to apply, in these insolvency situations of corporate groups, a different criterion from the one adopted in single companies, in an effort to achieve coordination between insolvency processes. This can be reached through the creation of a sharper regulation for this joinder of processes and the eligibility of a substantive consolidation of insolvent masses and joint liquidation, whenever the principles of equality of creditors and tutelage of appearance require; this will correct and improve the negative results of a strict application of the separation of society’s principle. An efficient coordination between processes must be created to establish equitable results for all creditors.
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Direito da insolvência Grupos de sociedades Tutela dos credores Teses de mestrado - 2017