Carolina Mascarenhas
Restructuring and Insolvency Dispute Resolution Alternative Investments
+55 11 3356 1663 cmascarenhas@demarest.com.br São Paulo
Partner in Demarest’s Restructuring and Insolvency practice area, Carolina Mascarenhas holds a bachelor’s degree in Law from Universidade de São Paulo (USP) and a specialization in Credit Recovery and Debt Restructuring from Fundação Getulio Vargas (FGV/SP). She has a strong track record in advisory and litigation matters involving large-scale judicial reorganizations and bankruptcies, representing major investors and creditors. Carolina is recognized by The Legal 500, one of the most prominent international legal directories.
- Advised major creditors (including national companies and financial institutions) in the judicial reorganization of the Americanas Group.
- Advised a leading financial institution, creditor of the Laginha Group’s Bankrupt Estate, in drafting and negotiating its bankruptcy closure plan.
- Advised a prominent financial institution and main creditor of the PCS Group within the context of its judicial reorganization.
- Advised an investor in acquiring an area in the Suape Port, within the context of the EAS Group’s judicial reorganization. Amount involved: BRL 455 million.
- Advised a financial institution in arbitral proceedings against a distressed energy group, involving the validity of contractual clauses in investment agreements. Amount involved: BRL 1 billion.
- Specialization in Credit Recovery and Debt Restructuring – with additional training in Corporate Law and Obligations – from Fundação Getulio Vargas (FGV-SP), São Paulo, Brazil (2018)
- Bachelor of Laws from Universidade de São Paulo (USP), São Paulo, Brazil (2009)
- Member of the Turnaround Management Association (TMA) Brazil
- Member of the Center for Women in Corporate Restructuring (CMR)
- Member of the International Women’s Insolvency & Restructuring Confederation (IWIRC) Brazil
- Member of the Bankruptcy Law Committee of the Brazilian Institute of Business Law (IBRADEMP)
- Member of the Permanent Committee for Bankruptcy and Reorganization Law Studies of the São Paulo Lawyers Institute (IASP)
- Author of the article [Ativos: Oportunidades, Intervenções de extraconcursais e procedimentos. Uma breve análise dos direitos do Fisco e dos credores extraconcursais em processos de recuperação judicial] “Assets: Opportunities, Out-of-Court Interventions and Procedures. A brief analysis of the rights of the Tax Authorities and out-of-court creditors in judicial reorganization proceedings”, IASP, 2025.
- Author of the article [TJ/SP decide que associação civil não pode requerer recuperação judicial] “São Paulo Court of Justice rules that civil associations cannot file for judicial reorganization”, Migalhas, 2023.
- Author of the article [Prêmios arrecadados por representante de seguros não são sujeitos aos efeitos da recuperação judicial] “Premiums collected by insurance representatives are not subject to the effects of judicial reorganization”, Migalhas, 2023.
- Author of the article [Venda de ativos de empresa em recuperação judicial e a importância do stalking horse bidder] “Sale of assets by companies under judicial reorganization and the relevance of the stalking horse bidder”, in the book [Recuperação Empresarial e Falência: aspectos práticos] “Corporate Reorganization and Bankruptcy: Practical Aspects”, Thoth, 2022.
- Author of the article [Incorporadoras Imobiliárias: STJ decide se cabe a recuperação judicial] “Real Estate Developers: STJ rules on the applicability of judicial reorganization”, Migalhas, 2022.
- Author of the article [Comentários aos artigos 189 a 201] “Comments on Articles 189 to 201”, in the book [Comentários à Lei de Recuperação de Empresas e Falência, Lei 11.101/2005] “Comments on the Brazilian Corporate Reorganization and Bankruptcy Law: Law No. 11,101/2005”, Foco, 2022.
- Author of the article [Classificação dos Créditos e Pagamento dos Credores na Falência] “Classification of Claims and Payment of Creditors in Bankruptcy”, in the book [Reforma da Lei de Recuperação e Falência (Lei n. 14.112/20)] “Reform of the Corporate Reorganization and Bankruptcy Law (Law No. 14,112/20)”, IASP, 2021.
- Author of the article [Novação do plano de recuperação não atinge credores concursais que optaram por não apresentar habilitação retardatária] “Novation of the reorganization plan does not affect creditors who opted not to file late claims”, Migalhas, 2021.
- Author of the article [STJ decide que fiador pode não estar sujeito à recuperação judicial] “STJ rules that guarantors cannot be subject to judicial reorganization”, Jota, 2020.
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