The application of the theory of substantial performance to the corporate judicial reorganization plan
Judicial reorganization of companies. Judicial restruturing plan´s nature. Substantial Performance Doctrine. Objective good faith. Social function of the company
This dissertation adresses the possibility of applying the doctrine of substantial performance to the company's judicial reorganization, whose legal rules apply, if interpreted literally, argues that any failure to comply with the reorganization plan leads to the conversion of the reorganization into bankruptcy. Such a literal interpretation of Law No. 11.101/2005 disproportionately makes judicial reorganization unfeasible, hence why it is necessary to analyze the application of the doctrine of substantial performance to the judicial reorganization of company. According to this doctrine, whose origin goes back to contractual law, in the event of substantial performance, partial non-compliance with an obligation would not lead to contractual termination. In terms of corporate reorganization, this would mean that the mere failure to comply with any obligation of the reorganization plan should not, inexorably, lead to the conversion of the reorganization into bankruptcy, in view of the doctrine of substantial performance, which basically preaches a proportionality between the breach of the agreement and its legal effect. When the default is negligible for the total result, priority should be given to maintaining the agreement, as it is disproportionate that any and all non-compliance, even if insignificant in the face of what has already been paid, leads to the end of the reorganization plan. Otherwise, this would also violate the constitutional principle of the company's social function and objective good faith. In this context, this research seeks to answer, first, whether it is appropriate to apply the doctrine of substantial performance to cases of judicial reorganization and, if so, what would be the criteria that should guide the application of this doctrine to specific cases. The research will be undertaken basically through a bibliographic survey, aiming at the domain of the state of the art on the subject, and, after, a detailed analysis of the collected data will be carried out