08/08/2025
In a recent judgment, the Superior Court of Justice (“STJ”) upheld a ruling by the Court of Justice of Goiás (TJ-GO) that annulled a General Creditors’ Meeting held in 2019, in the context of judicial reorganization involving a group of 35 companies in the civil construction and real estate development sector.
According to the analysis of the appeal, during the Creditors’ Meeting, an addendum to the plan was presented by the companies, substantially altering the plan that was to be voted on at that time, making it difficult for the creditors present to carefully analyze the conditions. Despite this, the addendum was approved by a majority of the creditors present at the meeting.
However, the STJ considered that there was a flaw in the procedure of the Meeting, since there was not enough time for a detailed analysis of the conditions of the amendment presented during the session, which violates the rights of creditors.
We understand that the concept applied in the STJ’s judgment is correct and relevant, since it has become increasingly common to relativize the formalities that must be observed for the meeting to be held, on the pretext that the majority approved the act, which often harms creditors who represent a smaller portion of the credits subject to recovery.
With this judgment, the STJ reinforces that the Court has the authority to intervene in order to exercise control over legality, prevent the consolidation of any procedural flaws, and safeguard the rights involved.
Authored by: Ricardo Castro Ramos
