Trustee OS for Brazil

The operating system for the administrador judicial.

Built on Lei 11.101/2005 as reformed by Lei 14.112/2020, for recuperação judicial, recuperação extrajudicial and falência.

The framework

Three procedures.

Recuperação Judicial

Court-supervised reorganisation. Creditors are organised into four classes and vote on the plan at the Assembleia-Geral de Credores.

Recuperação Extrajudicial

A pre-negotiated plan is taken to court for ratification.

Falência

Liquidation of the estate and distribution to creditors in statutory order.

The role

What the administrador judicial has to do.

  1. 01

    Receive and verify creditor claims (habilitações and divergências) against the debtor's accounts.

  2. 02

    Publish the edital and consolidate the Quadro-Geral de Credores across the four classes.

  3. 03

    File the Relatório Mensal de Atividades (RMA) with the court every month.

  4. 04

    Convene and preside over the Assembleia-Geral de Credores.

  5. 05

    Supervise the sale of Unidades Produtivas Isoladas and other estate assets.

  6. 06

    Calculate and execute distributions to creditors.

Today, nearly all of this is done in Excel and Word.

The caseload

The market, in four numbers.

companies currently in judicial recovery in Brazil (stock at the end of 2025)
5,680
growth in that stock over the year
+24.3%
new judicial recovery filings in 2025, the highest in the series (+13%)
2,466
of those filings agricultural, up from 1.3% in 2012
30.1%

Monitor RGF (stock, end of 2025); Serasa Experian (new filings, 2025).

The stock is what matters here. An administrator is appointed to a case and works it for years, so the addressable workload is the 5,680 recoveries running right now — not just the ones that opened this year.

Why now, specifically

Provimento nº 231.

On 24 June 2026 the CNJ issued Provimento nº 231. It keeps the 5% statutory ceiling but adds a regressive reference table: 5% on liabilities up to R$300M, 1% from R$300–500M, 0.5% up to R$1bn, 0.1% up to R$3bn, 0.01% up to R$10bn, and 0.001% above that. It also bars any administrator from holding three or more large recuperações — liabilities above R$300M — at the same time, anywhere in the country.

Read those two rules together. The larger the case, the smaller the percentage. And you cannot make it up on volume, because you are capped on how many large cases you may hold. Fees are fixed and falling against a cost that is headcount, and the one lever left is doing each case with fewer people.

CNJ, Provimento nº 231, 24 June 2026.

The modules

Mapped to the Brazilian procedure.

i.

Habilitações → QGC

AI reads every creditor filing, reconciles it against the debtor's books and returns the Quadro-Geral de Credores classified across the four classes, in hours instead of months, every figure traceable to its source document.

ii.

RMA automático

The monthly report to the court drafts itself from the case's own data: activity, cash, payroll, compliance.

iii.

Portal do credor

Thousands of creditors get answers 24/7 instead of calling the office.

iv.

Módulo de plano e AGC

Model cash flows, classes and pro-rata treatment; run the assembly and the vote.

v.

Ativos e UPIs

Track what the estate owns and what it actually fetches at sale.

vi.

Rateio

Calculate and execute distributions to creditors.

Radar — the dataset underneath

The only structured national dataset of Brazilian insolvency.

Free and public, on a self-refreshing pipeline.

Open Radar →
cases
74,714
state courts
27
since
2005
judges mapped
75