contributions for the portuguese insolvency framework

A more recent reform to insolvency law in Portugal is in progress after ongoing disputes in the area. The focus of the reform is the reduction of the legal impediments to business restructuring, creating incentives to voluntary restructuring by the debtors, establishing ground rules on fiscal incentives regarding public creditors, and more importantly the reinforcement of the insolvency practitioners' powers. In this paper, we analyze a new legal instrument, named Business Restructuring Extrajudicial Regime - RERE. Based on the recovery of the debtor, the aim is to approve a settlement between debtor and creditor(s), under the intervention of a business restructuring mediator. We will study the most important features regarding this professional and the pros and cons of this new procedure, as well as the similarities differences of a general conflict mediation procedure.