Act is a subsidiary of the Limited Liability Company

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While prior control of the constitutionality of bills is the responsibility of the legislative branch (and the executive branch, through veto), prior control of the legality and constitutionality of the recovery plan is the responsibility of the creditors.

The approval (by resolution or absence of objection), rejection or modification of the recovery plan by creditors may occur for economic or legal reasons. In this sense, it is possible that creditors reject a bulk sms hong kong clause of the recovery plan because they consider it to be illegal.

The economic assessment of convenience and opportunity of creditors regarding the plan is not subject to a posteriori control by the Judiciary. However, any control of legality by creditors may be subject to reexamination by the Judiciary after the creditors' deliberation.

Furthermore, it is important to note that Law No. 11,101/2005 provides for a procedure for proposing and approving the plan. The debtor presents his proposal and the creditors analyze it; eventually they object to the proposed recovery plan, at which time a general meeting of creditors is called so that they can deliberate on the approval of the recovery plan; if it is approved by the creditors and certain legal requirements are met, the judge ratifies it, unless there is a legal defect (art. 58).