Souto Correa advises Ecovix on end of restructuring case

Souto Correa advised Ecovix Group on the closure of its judicial reorganization process, initiated in 2016.

The reorganization was driven by the effects of Brazil’s 2014 economic crisis and the Operation Car Wash investigation, later compounded by the COVID-19 pandemic and the recession that impacted several key sectors of the national economy.

Throughout nearly a decade of judicial oversight, the Ecovix Group successfully restructured approximately R$ 8 billion in liabilities, strictly fulfilling the obligations outlined in its judicial reorganization plan — including those set out in its addendum, developed in response to the extraordinary impacts of the pandemic. Notably, all labor debts, as well as credits secured by real guarantees and those held by micro and small enterprises, were fully settled. This outcome reflects the company’s commitment to preserving jobs, sustaining economic activity, and promoting social justice.

With judicial recognition of the fulfillment of all obligations stipulated by law, the Ecovix Group officially concludes its judicial reorganization and begins a new chapter focused on revitalizing and expanding Brazil’s shipbuilding industry, while also diversifying its business strategy.

Souto Correa Advogados has advised the Ecovix Group since the start of its judicial reorganization and relied on partners Carlos Souto (corporate), Luis Felipe Spinelli (reestructuring and insolvence), Rodrigo Tellechea (corporate), associates Gabriela Mânica (restructuring and insolvency), Erika Donin (arbitration), Darwin Otto (restructuring and insolvency). The partners are pictured from left to right.