Insolvência Trasnacional e Direito Falimentar Brasileiro

Insolvência Trasnacional e
Direito Falimentar Brasileiro

(Cross-Border Insolvency and Brazilian Bankruptcy Law)
Alexandre Ferreira de Assumpção Alves

Doutor e mestre em Direito pela Universidade do
Estado do Rio de Janeiro (UERJ). Professor Associado
de Direito Empresarial nas Faculdades de Direito da
UERJ e da UFRJ.
Raphael Vieira da Fonseca Rocha

Mestrando em Direito pela Universidade do Estado
do Rio de Janeiro (UERJ). Advogado.
RESUMO
KĂƌƟŐŽƚĞŵƉŽƌŽďũĞƚŽĞǆĂŵŝŶĂƌŽƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐ-
ŶĂĐŝŽŶĂů͕ŝƐƚŽĠ͕ŽƵŶŝǀĞƌƐĂůŝƐŵŽ͕ŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĞŽƐŵŽĚĞůŽƐŵŝƐƚŽƐ͕
apresentando os principais elementos caracterizadores de cada um de-
les, bem como suas vantagens e desvantagens. O intuito da pesquisa Ġ
propiciar ĂĚĞƋƵĂĚŽĂƌĐĂďŽƵĕŽƚĞſƌŝĐŽƉĂƌĂǀŝĂďŝůŝǌĂƌƵŵĚĞďĂƚĞƐĠƌŝŽƐŽ-
ďƌĞŽƚĞŵĂŶŽƌĂƐŝů͕ŚĂũĂǀŝƐƚĂƋƵĞĂĂĐĞŶƚƵĂĚĂŐůŽďĂůŝǌĂĕĆŽĚĂĞĐŽŶŽŵŝĂ
mundial ŶĆŽ ŵĂŝƐ ƉĞƌŵŝƚĞ ĂŽ ƉĂşƐ ŵĂŶƚĞƌͲƐĞ ŝŶĞƌƚĞ ƉĞƌĂŶƚĞ Ă ŵĂƚĠƌŝĂ͘
^ĞƌĄƚĂŵďĠŵĨĞŝƚĂƵŵĂĂŶĄůŝƐĞĚĂƚĞŽƌŝĂĚĂƐƋƵĂůŝĮĐĂĕƁĞƐĚŽĚŝƌĞŝƚŽŝŶ-
ƚĞƌŶĂĐŝŽŶĂůƉƌŝǀĂĚŽ͕ƋƵĞƐĞƌǀŝƌĄĐŽŵŽŝŵƉŽƌƚĂŶƚĞƐƵďƐƚƌĂƚŽƚĞſƌŝĐŽƉĂƌĂ
ŽƚĞŵĂ͕ďĞŵĐŽŵŽĚŽŚŝƐƚſƌŝĐŽĚŽĚŝƌĞŝƚŽĨĂůŝŵĞŶƚĂƌďƌĂƐŝůĞŝƌŽ͘ƉĞƐƋƵŝƐĂ
ĠĚŽƟƉŽďŝďůŝŽŐƌĄĮĐŽͲĚŽĐƵŵĞŶƚĂůĞŽŵĠƚŽĚŽĂĚŽƚĂĚŽĠŽĚĞĚƵƟǀŽ͘
Palavras-chave͗/ŶƐŽůǀġŶĐŝĂdƌĂŶƐŶĂĐŝŽŶĂů͖^ŝƐƚĞŵĂƐ͖&ĂůġŶĐŝĂĞZĞĐƵƉĞƌĂ-
ĕĆŽ:ƵĚŝĐŝĂů͖ŝƌĞŝƚŽƌĂƐŝůĞŝƌŽ͘
\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 9

ABSTRACT
This paper aims to examine the cross-border insolvency systems,
ƚŚĂƚ ŝƐ͕ ƚŚĞ ƵŶŝǀĞƌƐĂůŝƐŵ͕ ƚĞƌƌŝƚŽƌŝĂůŝƐŵ ĂŶĚ ŵŝǆĞĚ ƐǇƐƚĞŵƐ͕ ƉƌĞƐĞŶƟŶŐ
ƚŚĞŵĂŝŶĐŚĂƌĂĐƚĞƌŝƐƟĐƐŽĨĞĂĐŚŽŶĞĂƐǁĞůůĂƐƚŚĞŝƌĂĚǀĂŶƚĂŐĞƐĂŶĚĚŝ-
ƐĂĚǀĂŶƚĂŐĞƐ͘ dŚĞ ƌĞƐĞĂƌĐŚ͛Ɛ ƉƵƌƉŽƐĞ ŝƐ ƚŽ ƉƌŽǀŝĚĞ ĂĚĞƋƵĂƚĞ ƚŚĞŽƌĞƟĐĂů
ĨƌĂŵĞǁŽƌŬ ƚŽ ĂůůŽǁ Ă ƐĞƌŝŽƵƐ ĚĞďĂƚĞ ŽŶ ƚŚĞ ƐƵďũĞĐƚ ŝŶ ƌĂǌŝů͕ ŽŶĐĞ ƚŚĞ
ƐƚƌŽŶŐ ŐůŽďĂůŝǌĂƟŽŶ ŽĨ ǁŽƌůĚ ĞĐŽŶŽŵǇ ŶŽ ůŽŶŐĞƌ ĂůůŽǁƐ ƚŚĞ ĐŽƵŶƚƌǇ ƚŽ
ƌĞŵĂŝŶŝŶĞƌƚĂďŽƵƚƚŚŝƐŝƐƐƵĞ͘dŚĞƉĂƉĞƌǁŝůůĂůƐŽĂŶĂůǇǌĞƚŚĞĐůĂƐƐŝĮĐĂƟŽŶ
ƚŚĞŽƌǇ͕ƵŶĚĞƌWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>ĂǁĚŽĐƚƌŝŶĞ͕ďĞĐĂƵƐĞŝƚƐĞƌǀĞƐĂƐĂŶ
ŝŵƉŽƌƚĂŶƚƚŚĞŽƌĞƟĐĂůďĂƐŝƐĨŽƌƚŚĞƐƚƵĚŝĞĚŵĂƩĞƌ͕ĂŶĚƚŚĞďĂĐŬŐƌŽƵŶĚŽĨ
ƌĂǌŝůŝĂŶďĂŶŬƌƵƉƚĐǇůĂǁ͘/ƚ͛ƐĂďŝďůŝŽŐƌĂƉŚŝĐĂůĂŶĚĚŽĐƵŵĞŶƚĂƌǇƌĞƐĞĂƌĐŚ
ĂŶĚƚŚĞŵĞƚŚŽĚĂĚŽƉƚĞĚŝƐĚĞĚƵĐƟǀĞ͘
Keywords͗Cross-border Insolvency; Systems; Bankruptcy and Reorganiza-

ƟŽŶ͖ƌĂǌŝůŝĂŶ>Ăǁ͘
1. INTRODUÇÃO
ŵ ŽƵƚƵďƌŽ ĚĞ ϮϬϭϯ͕ Ă ƐŽĐŝĞĚĂĚĞ ĞŵƉƌĞƐĄƌŝĂ K'y WĞƚƌſůĞŽ Ğ 'ĄƐ

WĂƌƟĐŝƉĂĕƁĞƐ^͘͘ĞƐƵĂƐĐŽŶƚƌŽůĂĚĂƐĂũƵŝǌĂƌĂŵƉĞĚŝĚŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵ-
ĚŝĐŝĂůƉĞƌĂŶƚĞĂ:ƵƐƟĕĂƐƚĂĚƵĂůĚĂŽŵĂƌĐĂĚĂĂƉŝƚĂůĚŽƐƚĂĚŽĚŽZŝŽĚĞ
:ĂŶĞŝƌŽ͕ĨĞŝƚŽƋƵĞǀĞŝŽĂƐĞƌĚŝƐƚƌŝďƵşĚŽƉĂƌĂĂϰǐsĂƌĂŵƉƌĞƐĂƌŝĂů͘ŵƐƵĂ
ĞǆŽƌĚŝĂů͕ĂƐĂƵƚŽƌĂƐƉůĞŝƚĞĂƌĂŵŽĚĞĨĞƌŝŵĞŶƚŽĚĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůƉĂƌĂ
quatro sociedades1ŝŶƚĞŐƌĂŶƚĞƐĚŽŐƌƵƉŽĞŵƉƌĞƐĂƌŝĂů͕ĚƵĂƐĚĞůĂƐĐŽŶƐƟƚƵ-
şĚĂƐŶŽƌĂƐŝůĞĚƵĂƐĐŽŵƐĞĚĞŶĂƵƐƚƌŝĂ͕ĞƐƚĂŶĚŽ͕ƉŽƌƚĂŶƚŽ͕ŶŽĐĞƌŶĞĚĂ
ĚŝƐĐƵƐƐĆŽĂƋƵĞƐƚĆŽĚŽĨŽƌŽĐŽŵƉĞƚĞŶƚĞƉĂƌĂũƵůŐĂŵĞŶƚŽ͘ĞǀŝĚŽĂŽƉŽƌƚĞ
ĞĐŽŶƀŵŝĐŽĚŽŐƌƵƉŽ͕ŽƉƌŽĐĞƐƐŽƌĞĂĐĞŶĚĞƵĚĞďĂƚĞĂĐĞƌĐĂĚĂƉŽƐƐŝďŝůŝĚĂĚĞ
ĚĞƵŵ:ƵşǌŽďƌĂƐŝůĞŝƌŽŝŶĐůƵŝƌŶĂĨĂůġŶĐŝĂŽƵŶŽƉĞĚŝĚŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝ-
ĐŝĂůƐŽĐŝĞĚĂĚĞĐƵũĂĐŽŶƐƟƚƵŝĕĆŽƚĞŶŚĂƐĞĚĂĚŽĞŵŽƵƚƌŽƉĂşƐ͘
ĐŽŵƵŶŝĚĂĚĞŚŽĚŝĞƌŶĂĞŶĐŽŶƚƌĂͲƐĞĐĂĚĂǀĞǌŵĂŝƐŝŶƚĞƌůŝŐĂĚĂƉĞůĂ
ŐůŽďĂůŝǌĂĕĆŽ͘WĞƐƐŽĂƐİƐŝĐĂƐĞũƵƌşĚŝĐĂƐŶĆŽŵĂŝƐƐĞůŝŵŝƚĂŵăƐĨƌŽŶƚĞŝƌĂƐ
ĚĞƐĞƵƐƉĂşƐĞƐ͘KĚĞƐĞŶǀŽůǀŝŵĞŶƚŽƐƵƌƉƌĞĞŶĚĞŶƚĞĚĂƚĞĐŶŽůŽŐŝĂĚĂŝŶĨŽƌ-
ŵĂĕĆŽƉĞƌŵŝƚĞƋƵĞŽĐĂƉŝƚĂůĂƐƐƵŵĂƵŵĂĨĞŝĕĆŽƚƌĂŶƐŶĂĐŝŽŶĂů͕ŇƵŝŶĚŽŽƐ
ϭŽŵĂĞŶƚƌĂĚĂĞŵǀŝŐŽƌĚŽſĚŝŐŽŝǀŝůĚĞϮϬϬϮ͕ĂĚŽƚŽƵͲƐĞŶŽƌĂƐŝůĂƚĞŽƌŝĂĚĂĞŵƉƌĞƐĂ͘ŵƌĂǌĆŽĚŝƐƐŽ͕ĂŽůŽŶŐŽ
ĚĞƐƐĞƚƌĂďĂůŚŽ͕ŽƚĞƌŵŽ͞ĞŵƉƌĞƐĂ͟ƐĞƌĄƵƟůŝǌĂĚŽĂƉĞŶĂƐŶŽƐĞŶƟĚŽƚĠĐŶŝĐŽĚĞŽďũĞƚŽĚĞĚŝƌĞŝƚŽ͕ŝƐƚŽĠ͕ĂƟǀŝĚĂĚĞ
ĞŵƉƌĞƐĄƌŝĂ͘WĂƌĂĂƉĞƐƐŽĂũƵƌşĚŝĐĂ͕ƐƵũĞŝƚŽĚĞĚŝƌĞŝƚŽ͕ƋƵĞĞǆĞƌĐĞĞŵƉƌĞƐĂ͕ƐĞƌĄĂĚŽƚĂĚŽŽƚĞƌŵŽ͞ƐŽĐŝĞĚĂĚĞ͘͟
10 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

ŝŶǀĞƐƟŵĞŶƚŽƐ Ğ ĚĞƐŝŶǀĞƐƟŵĞŶƚŽƐ ůŝǀƌĞŵĞŶƚĞ ƉĞůŽƐ ƐƚĂĚŽƐ Ğ ĐŽŶƟŶĞŶ-
ƚĞƐ͕ƉŽĚĞŶĚŽŽŝŶǀĞƐƟĚŽƌĂƉŽƌƚĂƌƌĞĐƵƌƐŽƐĞŵƋƵĂůƋƵĞƌƉĂƌƚĞĞŵĞĚŝĂŶ-
ƚĞĐŽŶƐƟƚƵŝĕĆŽĚĞƋƵĂůƋƵĞƌĨŽƌŵĂũƵƌşĚŝĐĂ͘ŽŵĞĨĞŝƚŽ͕ŽďƐĞƌǀĂͲƐĞƵŵĂ
ƉƌŽůŝĨĞƌĂĕĆŽĚĞŝŶǀĞƐƟŵĞŶƚŽƐĞŵƚĞƌƌŝƚſƌŝŽƐĞƐƚƌĂŶŐĞŝƌŽƐ͕ƐŽďƌĞƚƵĚŽĞŵ
͞ƉĂƌĂşƐŽƐ ĮƐĐĂŝƐ͘͟ ^ŽĐŝĞĚĂĚĞƐ ĞŵƉƌĞƐĄƌŝĂƐ ĞƐƚĂďĞůĞĐĞŵ ƌĞůĂĕƁĞƐ Ğŵ ǀĄ-
ƌŝŽƐƉĂşƐĞƐ͖ĞŶƚĞƐĐŽůĞƟǀŽƐƚġŵƐĞĚĞŝŶƐƚĂůĂĚĂĞŵƵŵƐƚĂĚŽĞĮůŝĂů;ŝƐͿ
ĞŵƚĞƌƌŝƚſƌŝŽĚĞŽƵƚƌŽ;ƐͿ͖ŐƌĂŶĚĞƐĐŽŶŐůŽŵĞƌĂĚŽƐĞŵƉƌĞƐĂƌŝĂŝƐƉŽĚĞŵ
ser comandados de qualquer lugar do mundo dada a facilidade de deslo-
camento e comunicação.
EĞƐƐĞĐŽŶƚĞǆƚŽĚĞĐŝƌĐƵůĂĕĆŽŵĂƐƐŝǀĂĞƉƌĂƟĐĂŵĞŶƚĞ͞ŝŶƐƚĂŶƚąŶĞĂ͟
ĚĞĐĂƉŝƚĂů͕ŶĆŽƉŽĚĞƌŝĂŽƉĞƌĮůĚŽĚŝƌĞŝƚŽĨĂůŝŵĞŶƚĂƌ;ŝŶĐůƵŝŶĚŽŽƐŵĞŝŽƐ
ƉƌĞǀĞŶƟǀŽƐăĨĂůġŶĐŝĂͿƉĞƌŵĂŶĞĐĞƌŝŵƵŶĞĂŽƐĞĨĞŝƚŽƐĚĞƐƐĂƐŝŶŽǀĂĕƁĞƐ͘
ŽŵŽďĞŵŝůƵƐƚƌĂĂƌŵĞŶdŝďƷƌĐŝŽ͕ƋƵĞƐƚƁĞƐĐŽŵŽ͕v.g.͕ĂĐŽŵƉĞƚġŶĐŝĂ
ĚŽũƵŝǌďƌĂƐŝůĞŝƌŽƉĂƌĂĚĞĐůĂƌĂƌĨĂůġŶĐŝĂĚĞĮůŝĂŝƐŽƵƐƵďƐŝĚŝĄƌŝĂƐĚĞƐŽĐŝĞ-
ĚĂĚĞďƌĂƐŝůĞŝƌĂƐŝƚƵĂĚĂƐŶŽĞǆƚĞƌŝŽƌĞĂůĞŝƋƵĞĚĞǀĂƐĞƌĂĞůĂƐĂƉůŝĐĄǀĞŝƐ
ƐƵƌŐĞŵĚŝĂŶƚĞĚĞůŝĚĞƐƋƵĞĞŶǀŽůǀĂŵƐŽĐŝĞĚĂĚĞƐŽƵŐƌƵƉŽƐĞĐŽŶƀŵŝĐŽƐ
ĚĞĂƚƵĂĕĆŽŵƵůƟŶĂĐŝŽŶĂů2.
KƉƌĞƐĞŶƚĞĂƌƟŐŽƚĞŵƉŽƌŽďũĞƟǀŽĂĚĞŶƚƌĂƌŶŽƚĞŵĂĚĂŝŶƐŽůǀġŶ-
ĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ŵĞĚŝĂŶƚĞŽĞǆĂŵĞĚŽƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐ-
ŶĂĐŝŽŶĂů͕ ŝƐƚŽ Ġ͕ Ž ƵŶŝǀĞƌƐĂůŝƐŵŽ͕ Ž ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ Ğ ŽƐ ŵŽĚĞůŽƐ ŵŝƐƚŽƐ͕
apresentando os principais elementos caracterizadores de cada um deles,
ďĞŵĐŽŵŽƐƵĂƐǀĂŶƚĂŐĞŶƐĞĚĞƐǀĂŶƚĂŐĞŶƐ͘KŝŶƚƵŝƚŽĚĂƉĞƐƋƵŝƐĂĠƉƌŽƉŝĐŝĂƌ
ĂĚĞƋƵĂĚŽĂƌĐĂďŽƵĕŽƚĞſƌŝĐŽƉĂƌĂǀŝĂďŝůŝǌĂƌƵŵĚĞďĂƚĞƐĠƌŝŽƐŽďƌĞŽƚĞŵĂ
ŶŽƌĂƐŝů͕ŚĂũĂǀŝƐƚĂƋƵĞĂĂĐĞŶƚƵĂĚĂŐůŽďĂůŝǌĂĕĆŽĚĂĞĐŽŶŽŵŝĂŵƵŶĚŝĂůŶĆŽ
ŵĂŝƐƉĞƌŵŝƚĞĂŽƉĂşƐŵĂŶƚĞƌͲƐĞŝŶĞƌƚĞƉĞƌĂŶƚĞĂŵĂƚĠƌŝĂ͘^ĞƌĄƚƌĂďĂůŚĂĚĂ
ƚĂŵďĠŵĂƚĞŽƌŝĂĚĂƐƋƵĂůŝĮĐĂĕƁĞƐĚŽĚŝƌĞŝƚŽŝŶƚĞƌŶĂĐŝŽŶĂůƉƌŝǀĂĚŽ͕ƋƵĞƐĞƌ-
ǀŝƌĄĐŽŵŽŝŵƉŽƌƚĂŶƚĞƐƵďƐƚƌĂƚŽƚĞſƌŝĐŽƉĂƌĂŽƚĞŵĂ͕ďĞŵĐŽŵŽƐĞƌĄƌĞĂůŝ-
ǌĂĚĂƵŵĂĂŶĄůŝƐĞƐŽďƌĞŽŚŝƐƚſƌŝĐŽĚŽĚŝƌĞŝƚŽĨĂůŝŵĞŶƚĂƌďƌĂƐŝůĞŝƌŽ͘
ĚĞƐĞƌĞƐƐĂůƚĂƌƋƵĞŽƉƌĞƐĞŶƚĞƚƌĂďĂůŚŽƐĞƵƚŝůŝza do termo insol-
ǀġŶĐŝĂ lato sensu͘ EŽ ƌĂƐŝů͕ Ă ĨĂůġŶĐŝĂ Ğ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů ĂŝŶĚĂ ƐĆŽ
ŝŶƐƟƚƵƚŽƐǀŽůƚĂĚŽƐĂƉĞŶĂƐƉĂƌĂŽƐĞŵƉƌĞƐĄƌŝŽƐŝŶĚŝǀŝĚƵĂŝƐĞƐŽĐŝĞĚĂĚĞƐ
ĞŵƉƌĞƐĄƌŝĂƐ3͕ĚĞŵŽĚŽƋƵĞƐĞĂĚŽƚĂŶŽƉĂşƐƵŵƐĞŶƟĚŽĞƐƚƌŝƚŽĚŽƚĞƌŵŽ
Ϯd/hZ/K͕ĂƌŵĞŶ͘ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐĚĂĨĂůġŶĐŝĂ͘ΗRevista de Direito Bancário e do Mercado de Capitais.
V. 16, ano 2013, n. 62, p. 201.
ϯ͞WĂƌĂƐƵũĞŝƚĂƌͲƐĞăĨĂůġŶĐŝĂĠŶĞĐĞƐƐĄƌŝŽĞǆƉůŽƌĂƌĂƟǀŝĚĂĚĞĞĐŽŶƀŵŝĐĂĚĞĨŽƌŵĂĞŵƉƌĞƐĂƌŝĂů͘ŝƐƐŽƌĞƐƵůƚĂƋƵĞ
ŶĆŽƐĞƐƵďŵĞƚĞăĞǆĞĐƵĕĆŽĐŽŶĐƵƌƐĂů͕ĚĞƵŵůĂĚŽ͕ƋƵĞŵŶĆŽĞǆƉůŽƌĂĂƟǀŝĚĂĚĞĞĐŽŶƀŵŝĐĂŶĞŶŚƵŵĞ͕ĚĞŽƵƚƌŽ
ůĂĚŽ͕ ƋƵĞŵ Ž ĨĂǌ ƐĞŵ ĞŵƉƌĞƐĂƌŝĂůŝĚĂĚĞ͘ YƵĞŵ ŶĆŽ ƉƌŽĚƵǌ ŶĞŵ ĐŝƌĐƵůĂ ďĞŶƐ ŽƵ ƐĞƌǀŝĕŽƐ͕ ĂƐƐŝŵ͕ ŶƵŶĐĂ ƚĞƌĄ ƐƵĂ
ĨĂůġŶĐŝĂĚĞĐƌĞƚĂĚĂ͕ŶĞŵƉŽĚĞƌĄďĞŶĞĮĐŝĂƌͲƐĞĚĞƋƵĂůƋƵĞƌƟƉŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůŽƵĞǆƚƌĂũƵĚŝĐŝĂů͘ŽĐĂƐŽ͕
ƉŽƌĞǆĞŵƉůŽ͕ĚĞĂƐƐŽĐŝĂĕĆŽďĞŶĞĮĐĞŶƚĞ͕ĨƵŶĚĂĕĆŽ͕ĨƵŶĐŝŽŶĄƌŝŽƉƷďůŝĐŽ͕ĂƉŽƐĞŶƚĂĚŽ͕ĂƐƐĂůĂƌŝĂĚŽ͕ĞƚĐ͘ƐƐĞƐƐƵũĞŝƚŽƐ

ŝŶƐŽůǀġŶĐŝĂ͘ DƵŝƚŽƐ ŽƌĚĞŶĂŵĞŶƚŽƐ ĞƐƚƌĂŶŐĞŝƌŽƐ͕ ƉŽƌ ŽƵƚƌŽ ůĂĚŽ͕ ũĄ ƉŽƐ-
ƐƵĞŵƵŵĂĂŶĄůŝƐĞŵĂŝƐĂŵƉůĂĚŽǀŽĐĄďƵůŽ͘ŽŵŽĞǆĞŵƉůŽ͕ĐŝƚĂͲƐĞŽĐĂƐŽ
ĚŽŽƌĚĞŶĂŵĞŶƚŽƉŽƌƚƵŐƵġƐƋƵĞ͕ŶŽƐŵŽůĚĞƐĚĞƐĞƵſĚŝŐŽĚĂ/ŶƐŽůǀġŶĐŝĂ
Ğ ĚĂ ZĞĐƵƉĞƌĂĕĆŽ ĚĞ ŵƉƌĞƐĂƐ ;ĞĐƌĞƚŽͲ>Ğŝ ŶǑ ϱϯͬϮϬϬϰͿ͕ ƉĞƌŵŝƚĞ͕ ŶŽƐ
ƚĞƌŵŽƐĚŽĂƌƚ͘ϮǑ͕ϭ͕ĂůşŶĞĂĚ4͕ĂƐƵũĞŝĕĆŽĚĞƐŽĐŝĞĚĂĚĞƐĐŝǀŝƐĂƉƌŽĐĞƐƐŽƐ
ĚĞŝŶƐŽůǀġŶĐŝĂ͘KĚŝƉůŽŵĂƉŽƌƚƵŐƵġƐŶĆŽƉƌĞǀġĂŝŶĚĂƋƵĂůƋƵĞƌŽďƐƚĄĐƵ-
ůŽĂŽĚĞĨĞƌŝŵĞŶƚŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĂƉſƐĂĚĞĐƌĞƚĂĕĆŽĚĞƋƵĞďƌĂ
ĚĂ ƐŽĐŝĞĚĂĚĞ͘ dĂů ŽƌŝĞŶƚĂĕĆŽ Ġ ƐĂďŝĚĂŵĞŶƚĞ ǀĞĚĂĚĂ ƉĞůŽ ĚŝƌĞŝƚŽ ƉĄƚƌŝŽ
ĐŽŶƐŽĂŶƚĞƉƌĞǀŝƐĆŽĚŽĂƌƚ͘ϭǑĚĂ>ĞŝŶǑϭϭ͘ϭϬϭͬϮϬϬϱĞŶĆŽ foi alterada
ƉĞůŽſĚŝŐŽĚĞWƌŽĐĞƐƐŽŝǀŝůǀŝŐĞŶƚĞ;Ăƌƚ͘ϭ͘ϬϱϮͿ
ůĠŵĚŝƐƐŽ͕ĂůŐƵŶƐŽƌĚĞŶĂŵĞŶƚŽƐŶĞŵƐĞƋƵĞƌƉƌĞǀĞĞŵƉƌŽĐĞƐƐŽƐ
ĚŝƐƟŶƚŽƐďĞŵĚĞůŝŵŝƚĂĚŽƐƉĂƌĂŽƐĐĂƐŽƐĚĞĨĂůġŶĐŝĂĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝ-
ĐŝĂů͘sġͲƐĞ͕v.g., o caso da lei ĂƐ'ĞƐĞƚǌǌƵƌǁĞŝƚĞƌĞŶƌůĞŝĐŚƚĞƌƵŶŐĚĞƌ
Sanierung von Unternehmen ;^h'Ϳ͕ƋƵĞĂůƚĞƌŽƵŽĚŝƉůŽŵĂƌĞŐƵůĂĚŽƌĚĂƐ
ŝŶƐŽůǀġŶĐŝĂƐŶĂůĞŵĂŶŚĂ;Insolvenzordnung ʹ/ŶƐKͿ͕ƉƌĞƐĐƌĞǀĞŶĚŽ͞Ƶŵ
ƉƌŽĐĞĚŝŵĞŶƚŽ ƷŶŝĐŽ Ğ ƵŶŝĨŽƌŵĞ ĚĞ ŝŶƐŽůǀġŶĐŝĂ͕ ĂďĞƌƚŽ ƉŽƌ ŝŶŝĐŝĂƟǀĂ ĚŽ
ĚĞǀĞĚŽƌŽƵĚĞĐƌĞĚŽƌĞƐ͕ĞƋƵĞƉŽĚĞůĞǀĂƌăůŝƋƵŝĚĂĕĆŽĚŽƐĂƟǀŽƐŽƵĂƵŵ
ĂĐŽƌĚŽĂůĐĂŶĕĂĚŽŶŽąŵďŝƚŽĚĞƵŵƉůĂŶŽĚĞŝŶƐŽůǀġŶĐŝĂ;InsonvenzplanͿ͕
ƋƵĞƉŽĚĞƉƌĞǀĞƌĂĐŽŶƟŶƵŝĚĂĚĞĚĂĞŵƉƌĞƐĂ΀ƐŝĐ΁͟5. Logo, optou-se por
ƵƟůŝǌĂƌŽƚĞƌŵŽŝŶƐŽůǀġŶĐŝĂŶŽƐĞŶƟĚŽĂŵƉůŽ͕ƉŽƌƉƌĞǀĂůĞĐĞƌĞƐƐĂǀŝƐĆŽ
ŶŽƐŽƌĚĞŶĂŵĞŶƚŽƐũƵƌşĚŝĐŽƐŵĂŝƐĂǀĂŶĕĂĚŽƐŶĂŵĂƚĠƌŝĂ͘
ŽŵŽ ŵĠƚŽĚŽ ĚĞ ƉĞƐƋƵŝƐĂ͕ ĂĚŽƚĂͲƐĞ Ž ĚĞĚƵƟǀŽ͕ ƉĞůŽ ƋƵĂů Ž ƌĂ-
ĐŝŽĐşŶŝŽůſŐŝĐŽĨĂǌƵƐŽĚĂĚĞĚƵĕĆŽƉĂƌĂŽďƚĞƌƵŵĂĐŽŶĐůƵƐĆŽƐŽďƌĞĚĞ-
terminada premissa. Parte-se da ĂŶĄůŝƐĞ ĚŽƐ ĐƌŝƚĠƌŝŽƐ ĚŽ ŽƌĚĞŶĂŵĞŶƚŽ
ďƌĂƐŝůĞŝƌŽƐŽďƌĞĨĂůġŶĐŝĂĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůƚƌĂŶƐŶĂĐŝŽŶĂůƉĂƌĂĞǆƉŽƌ
normas e doutrina sobre o tema, produzindo uma conclusão pessoal com
ƐƵƉĞĚąŶĞŽ ŶĂƐ ƉƌĞŵŝƐƐĂƐ ĂĚŽƚĂĚĂƐ ŶŽ ŵĂƚĞƌŝĂů ŝŶǀĞƐƟŐĂƚſƌŝŽ ĐŽůŝŐĂĚŽ͘
ĚĞĚŝƌĞŝƚŽ͕ŵĞƐŵŽƋƵĞĞƐƚĞũĂŵĐŽŵĚŝĮĐƵůĚĂĚĞƐƉĂƌĂŚŽŶƌĂƌƐƵĂƐĚşǀŝĚĂƐŶĆŽƐĞƐƵďŵĞƚĞŵ͕ăĞǆĞĐƵĕĆŽĐŽŶĐƵƌƐĂů
ĨĂůŝŵĞŶƚĂƌ͘ YƵĂŶĚŽ ŝŶƐŽůǀĞŶƚĞƐ͕ ĚĞĐƌĞƚĂͲƐĞ ƐƵĂ ŝŶƐŽůǀġŶĐŝĂ Đŝǀŝů͘ dĂŵďĠŵ ŶĆŽ ƚĞƌĄ ŶƵŶĐĂ ƐƵĂ ĨĂůġŶĐŝĂ ĚĞĐƌĞƚĂĚĂ
Ž ĞǆĞƌĐĞŶƚĞ ĚĞ ĂƟǀŝĚĂĚĞ ĞĐŽŶƀŵŝĐĂ ŶĆŽ ĞŵƉƌĞƐĂƌŝĂů͕ ĐŽŵŽ ĂƐ ƐŽĐŝĞĚĂĚĞƐ ƐŝŵƉůĞƐ͕ ĂƐ ĐŽŽƉĞƌĂƟǀĂƐ͕ Ž ĂŐƌŝĐƵůƚŽƌ
ĨĂŵŝůŝĂƌĐƵũĂĂƟǀŝĚĂĚĞƌƵƌĂůŶĆŽƚĞŶŚĂĐƵŶŚĂĞŵƉƌĞƐĂƌŝĂů͕ŽĂƌƚĞƐĆŽĞŽƉƌĞƐƚĂĚŽƌĚĞƐĞƌǀŝĕŽƐƋƵĞĞǆĞƌĐĞŵƐƵĂƐ
ĂƟǀŝĚĂĚĞƐƉƌĞƉŽŶĚĞƌĂŶƚĞŵĞŶƚĞĐŽŵŽƚƌĂďĂůŚŽƉƌſƉƌŝŽĞĚĞĨĂŵŝůŝĂƌĞƐ͕ŽƉƌŽĮƐƐŝŽŶĂůůŝďĞƌĂůĞĂƐƐŽĐŝĞĚĂĚĞƐĚĞ
ƉƌŽĮƐƐŝŽŶĂŝƐůŝďĞƌĂŝƐ͘EĞƐƐĂƐŚŝƉſƚĞƐĞƐ͕ŽĚĞǀĞĚŽƌŝŶƐŽůǀĞŶƚĞƐƵďŵĞƚĞͲƐĞĂŽƌĞŐŝŵĞĚĂŝŶƐŽůǀġŶĐŝĂĐŝǀŝů͕ƚĂůĐŽŵŽ
ŽĐŽƌƌĞĐŽŵŽƐŶĆŽĞǆĞƌĐĞŶƚĞƐĚĞĂƟǀŝĚĂĚĞĞĐŽŶƀŵŝĐĂ͘EĆŽƚġŵĞůĞƐ͕ĂƐƐŝŵ͕ĚŝƌĞŝƚŽăƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůŽƵĞǆƚƌĂ-
ũƵĚŝĐŝĂůĞĚĞǀĞŵ͕ƉĂƌĂǀĞƌĞǆƟŶƚĂƐƐƵĂƐŽďƌŝŐĂĕƁĞƐ͕ƋƵŝƚĂƌĂƚŽƚĂůŝĚĂĚĞĚŽĚĞǀŝĚŽ͘͟K>,K͕&ĄďŝŽhůŚŽĂ͘Curso de
Direito Comercial: Direito de Empresa͘s͘ϯʹŽŶƚƌĂƚŽƐ͕&ĂůġŶĐŝĂĞZĞĐƵƉĞƌĂĕĆŽĚĞŵƉƌĞƐĂƐ͘ϭϰǐ͘ĞĚ͘^ĆŽWĂƵůŽ͗
Saraiva, 2013, p. 259-260.
ϰ͞ƌƚ͘ϮǑ͕ϭ͗WŽĚĞŵƐĞƌŽďũĞĐƚŽĚĞƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂ͗΀͘͘͘΁ĚͿĂƐƐŽĐŝĞĚĂĚĞƐĐŝǀŝƐ͖͟
ϱDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͗ŽŶƚƌŝďƵŝĕƁĞƐ
ƉĂƌĂŽĞƐĞŶǀŽůǀŝŵĞŶƚŽĚĞƵŵ^ŝƐƚĞŵĂ:ƵƌşĚŝĐŽƌĂƐŝůĞŝƌŽĂWĂƌƟƌĚŽŝƌĞŝƚŽŽŵƉĂƌĂĚŽΗʹdĞƐĞĚĞŽƵƚŽƌĂĚŽĞŵ
ŝƌĞŝƚŽ͘^ĆŽWĂƵůŽ͗hŶŝǀĞƌƐŝĚĂĚĞĚĞ^ĆŽWĂƵůŽ͕ϮϬϭϯ͕Ɖ͘ϲϬ͘

^ĞƌĆŽƵƟůŝǌĂĚŽƐĐŽŵŽĨŽŶƚĞŽƐƚĞǆƚŽƐůĞŐĂŝƐ;ŶŽƌŵĂƐͿ͕ƚĞǆƚŽƐũƵƌşĚŝĐŽƐĚĞ
ĂƵƚŽƌĞƐĂƚƵĂŝƐĞĐůĄƐƐŝĐŽƐ͕ďĞŵĐŽŵŽĚŽƵƚƌŝŶĂĞũƵƌŝƐƉƌƵĚġŶĐŝĂ͕ŶĂĐŝŽŶĂů
ĞŝŶƚĞƌŶĂĐŝŽŶĂů͘ƉĞƐƋƵŝƐĂ͕ƉŽƌƚĂŶƚŽ͕ĠĚŽƟƉŽďŝďůŝŽŐƌĄĮĐŽͲĚŽĐƵŵĞŶƚĂů͘
2. A TEORIA DAS QUALIFICAÇÕES E SUA IMPORTÂNCIA PARA A

MATÉRIA
ŶƚĞƐĚĞƐĞĂĚĞŶƚƌĂƌŶŽĞǆĂŵĞĚŽƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂ-
cional, ĠŝŵƉŽƌƚĂŶƚĞƐĂůŝĞŶƚĂƌ que o tema enfrenta, ĂďŝŶŝƟŽ, um proble-
ŵĂĚĞƋƵĂůŝĮĐĂĕĆŽ͘ĞƐĞŶǀŽůǀŝĚĂƉĞůŽƐũƵƌŝƐƚĂƐ&ƌĂŶǌ<ĂŚŶ͕ŶĂůĞŵĂŶŚĂ
em 1891, e ƟĞŶŶĞĂƌƟŶ͕ŶĂ&ƌĂŶĕĂĞŵϭϴϵϳ͕ĂƚĞŽƌŝĂĚĂƐĐůĂƐƐŝĮĐĂĕƁĞƐ
visa a enquadrar os fatos da vidaŶŽƐŵŽůĚĞƐĚĂƐŝŶƐƟƚƵŝĕƁĞƐĐƌŝĂĚĂƐƉĞůŽ
ĚŝƌĞŝƚŽ͕ƐĞũĂǀŝĂĐŽƐƚƵŵĞŽƵǀŝĂůĞŝ͕ĂůŵĞũĂŶĚŽ͕ĂƐƐŝŵ͕ĞŶĐŽŶƚƌĂƌĂƐŽůƵĕĆŽ
ŵĂŝƐĂĚĞƋƵĂĚĂ͕ũƵƐƚĂĞĂƉƌŽƉƌŝĂĚĂƉĂƌĂŽƐĚŝǀĞƌƐŽƐĐŽŶŇŝƚŽƐĚĞĐŽƌƌĞŶƚĞƐ
ĚŽ ĐŽŶǀşǀŝŽ ŚƵŵĂŶŽ͘ ŵĂƚĠƌŝĂ͕ v.g., foi tratada na Inglaterra ora pelo
termo de ĐŚĂƌĂĐƚĞƌŝƐĂƟŽŶ, ora por ĐůĂƐƐŝĮĐĂƟŽŶ6.
Debate-se na doutrina internacionalista qual deve ser o direito in-
ǀŽĐĂĚŽƉĂƌĂůĂƐƚƌĞĂƌĂƋƵĂůŝĮĐĂĕĆŽĚĞĚĞƚĞƌŵŝŶĂĚŽĂƐƐƵŶƚŽ͕ƉŽĚĞŶĚŽͲƐĞ
ĚĞƐƚĂĐĂƌƚƌġƐƚĞŽƌŝĂƐƉƌĞĚŽŵŝŶĂŶƚĞƐ͕ĂƐĂďĞƌ͕lex fori, lex causae, e a qua-
ůŝĮĐĂĕĆŽƉŽƌƌĞĨĞƌġŶĐŝĂĂĐŽŶĐĞŝƚŽƐĂƵƚƀŶŽŵŽƐĞƵŶŝǀĞƌƐĂŝƐ͘WĂƌĂĞƐƐĂƷůƟ-
ŵĂƚĞŽƌŝĂ͕ĞůĂďŽƌĂĚĂƉŽƌƌŶƐƚZĂďĞů͕ŽũƵŝǌĚĞǀĞďƵƐĐĂƌ͕ĂƚƌĂǀĠƐĚŽŵĠƚŽ-
ĚŽĐŽŵƉĂƌĂƟǀŽ͕ĐŽŶĐĞŝƚŽƐĚŽƚĂĚŽƐĚĞĐĂƌĄƚĞƌƵŶŝǀĞƌƐĂů͕ŶĆŽŝŵƉŽƌƚĂŶĚŽ
ƐĞũĂŵĚŝƐƟŶƚŽƐĚĂƋƵĞůĞƐƉƌĞǀŝƐƚŽƐŶŽĚŝƌĞŝƚŽŝŶƚĞƌŶŽŽƵĞƐƚƌĂŶŐĞŝƌŽ͘
EĂĚŽŐŵĄƟĐĂďƌĂƐŝůĞŝƌĂ͕ƉƌĞǀĂůĞĐĞŽĞŶƚĞŶĚŝŵĞŶƚŽĚĂƵƟůŝǌĂĕĆŽĚĂ
lex fori ĐŽŵŽ ƌĞŐƌĂ ŐĞƌĂů͘ sĞũĂͲƐĞ͕ v.g.͕ ƉŽƐŝĐŝŽŶĂŵĞŶƚŽ ĚĞ ĞĂƚ tĂůƚĞƌ
ZĞĐŚƐƚĞŝŶĞƌ͗
Η ƉƌŝŶĐşƉŝŽ ďĄƐŝĐŽ ƋƵĞ Ž ũƵŝǌ ƐĞŵƉƌĞ ĂƉůŝĐĂ ĂƐ ŶŽƌŵĂƐ ĚŽ
direito internacional privado da lex fori. A teoria da lex cau-
sae não leva em consideração o fato de que a qualificação
ƉƌŽĐĞĚĞ͕ůŽŐŝĐĂŵĞŶƚĞ͕ăĚĞƚĞƌŵŝŶĂĕĆŽĚŽĚŝƌĞŝƚŽĂƉůŝĐĄǀĞů
ƉĞůŽ ũƵŝǌ͘ ƉĞŶĂƐ ƋƵĂŶĚŽ Ă ƐƵďƐƵŶĕĆŽ ĚĞ ƵŵĂ ƌĞůĂĕĆŽ
ũƵƌşĚŝĐĂ ĚĞ ĚŝƌĞŝƚŽ ƉƌŝǀĂĚŽ ĐŽŵ ĐŽŶĞǆĆŽ ŝŶƚĞƌŶĂĐŝŽŶĂů
ƉĞƌĂŶƚĞ Ă ŶŽƌŵĂ ĂĚĞƋƵĂĚĂ ĚĞ ĚŝƌĞŝƚŽ ŝŶƚĞƌŶĂĐŝŽŶĂů ũĄ
ϲ K>/E'Z͕ :ĂĐŽď͘ Direito Internacional privado͗ ƉĂƌƚĞ ŐĞƌĂů͘ ϭϭ͘ ĞĚ͘ ƌĞǀ͕͘ ĂƚƵĂůŝǌ͘ Ğ ĂŵƉůŝĂĚĂ͘ ZŝŽ ĚĞ :ĂŶĞŝƌŽ͗
&ŽƌĞŶƐĞ͕ϮϬϭϰ͕Ɖ͘ϯϵϬ͘

ĨŽŝ ĨĞŝƚĂ Ġ ƋƵĞ Ġ ƉŽƐƐşǀĞů ĚĞƐŝŐŶĂƌ Ž ĚŝƌĞŝƚŽ ĂƉůŝĐĄǀĞů͘
ƋƵĂůŝĨŝĐĂĕĆŽ ŵĞĚŝĂŶƚĞ ĐŽŶĐĞŝƚŽƐ ĂƵƚƀŶŽŵŽƐ Ğ ƵŶŝǀĞƌƐĂŝƐ͕
ĨŝŶĂůŵĞŶƚĞ͕ ĨĂůŚĂ͕ ƉŽƌƋƵĞ ƉĂƌĂ Ž ũƵŝǌ͕ ŶĂ ƉƌĄƚŝĐĂ͕ Ġ ƋƵĂƐĞ
ŝŵƉŽƐƐşǀĞůĚĞƚĞĐƚĂƌĞůĞŵĞŶƚŽƐŽďũĞƚŝǀŽƐƉĂƌĂĞƐƚĞĨŝŵ͘Ɛ
diretrizes elementares para a qualificação são fornecidas
pela própria lex fori͘/ƐƐŽŶĆŽŝŵƉĞĚĞŽũƵŝǌĚĞŝŶƚĞƌƉƌĞƚĂƌ
ŽŽďũĞƚŽĚĞĐŽŶĞǆĆŽĚĞƵŵĂŶŽƌŵĂŝŶĚŝĐĂƟǀĂŽƵŝŶĚŝƌĞƚĂ
de direito internacional privado, com o intuito de levar em
ĐŽŶƐŝĚĞƌĂĕĆŽŝŶƐƟƚƵƚŽƐĞĮŐƵƌĂƐĚĞĚŝƌĞŝƚŽĚĞƐĐŽŶŚĞĐŝĚŽƐ
ƉĞůŽĚŝƌĞŝƚŽŝŶƚĞƌŶŽ͘KŵĞŝŽĚĞĂƵǆşůŝŽƉĂƌĂĞƐƚĞĮŵ͕ƉĂƌĂŽ
ũƵŝǌ͕ĠŽĚŝƌĞŝƚŽĐŽŵƉĂƌĂĚŽ͘Η 7
:ĂĐŽďŽůŝŶŐĞƌƐĞƉŽƐŝĐŝŽŶĂĚĞŵŽĚŽƐĞŵĞůŚĂŶƚĞ͕ĚĞƐƚĂĐĂŶĚŽĂƉĞ-
ŶĂƐĚƵĂƐĞǆĐĞĕƁĞƐălex fori͗
ΗEŽƐƐŽĞŶƚĞŶĚŝŵĞŶƚŽĠƋƵĞŽŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ
brasileiro aplica a lex foriƉĂƌĂĂƋƵĂůŝĮĐĂĕĆŽĞŵŐĞƌĂů͕ĂďƌŝŶ-
ĚŽ ĚƵĂƐ ĞǆĐĞĕƁĞƐ ƉĂƌĂ Ă lex causae Ğŵ ŵĂƚĠƌŝĂ ĚĞ ďĞŶƐ Ğ
ĚĞ ĐŽŶƚƌĂƚŽƐ Ğ͕ ŝŶĚĞƉĞŶĚĞŶƚĞŵĞŶƚĞ ĚŝƐƚŽ͕ ƌĞũĞŝƚĂ ƋƵĂůƋƵĞƌ
reenvio indicado pela lei estrangeira.
ŵǀĞƌĚĂĚĞ͕ŽŵĞƐŵŽǀĞŵĞƐƚĂďĞůĞĐĞŶĚŽŶŽſĚŝŐŽƵƐƚĂ-
ŵĞŶƚĞ͗ŽĂƌƚ͘ϲǑĞƐƚĂďĞůĞĐĞŽƉƌŝŶĐşƉŝŽĚĂƋƵĂůŝĮĐĂĕĆŽƉĞůĂ
lex fori, ŵĂƐŽƐĂƌƚƐ͘ϭϭϯĞϭϲϰĮǆĂŵĂƋƵĂůŝĮĐĂĕĆŽƉĞůĂlex
causae ƌĞƐƉĞĐƟǀĂŵĞŶƚĞ ƉĂƌĂ ƋƵĞƐƚƁĞƐ ƌĞůĂƟǀĂƐ Ă ďĞŶƐ Ğ
ŽďƌŝŐĂĕƁĞƐ͘Η8
ŝŶĚĂĐŽŶĨŽƌŵĞŽĂƵƚŽƌ͕ĂĞǆĐĞĕĆŽĚŽƐďĞŶƐƐĞũƵƐƟĮĐĂŶŽĨĂƚŽĚĞ
ƋƵĞŽůĞŐŝƐůĂĚŽƌĚŽůŽĐĂůŽŶĚĞƐĞĞŶĐŽŶƚƌĂŵĠŽƷŶŝĐŽǀĞƌĚĂĚĞŝƌĂŵĞŶƚĞ
ĐŽŵƉĞƚĞŶƚĞƉĂƌĂĐůĂƐƐŝĮĐĄͲůŽƐ͘:ĄŶŽƋƵĞƐĞƌĞĨĞƌĞăƐŽďƌŝŐĂĕƁĞƐ͕ŚĄ pra-
ƟĐĂŵĞŶƚĞƐĞŵƉƌĞƵŵĂǀŽŶƚĂĚĞƚĄĐŝƚĂŶŽƐĞŶƟĚŽĚĞƐƵďŵŝƐƐĆŽĚĂŽďƌŝ-
ŐĂĕĆŽăůĞŝĚŽůŽĐĂůĞŵƋƵĞĨŽƌĂĐŽŶƐƟƚƵşĚĂ͕ĚĞǀĞŶĚŽͲƐĞ͕ƉŽƌƚĂŶƚŽ͕Ɖƌŝ-
ǀŝůĞŐŝĂƌŽƉƌŝŶĐşƉŝŽĚĂĂƵƚŽŶŽŵŝĂĚĂǀŽŶƚĂĚĞ9͘&ŽŝĐŽŵĞƐƐĂſƟĐĂƋƵĞŽ
ĞĐƌĞƚŽͲ>ĞŝŶǑϰ͘ϲϱϳͬϭϵϰϮ͕ŽƌŝŐŝŶĂůŵĞŶƚĞŶŽŵĞĂĚŽĚĞ>ĞŝĚĞ/ŶƚƌŽĚƵĕĆŽ
ao Código Civil, com atual denominação de Lei de Introdução às Normas
ĚŽŝƌĞŝƚŽƌĂƐŝůĞŝƌŽ͕ŶŽƐŵŽůĚĞƐĚĂƌĞĚĂĕĆŽĚĂĚĂƉĞůĂ>ĞŝŶǑϭϮ͘ϯϳϲͬϭϬ͕
ϳZ,^d/EZ͕ĞĂƚtĂůƚĞƌ͘Direito internacional privado͗ƚĞŽƌŝĂĞƉƌĄƟĐĂ͘ϭϱ͘ĞĚ͕͘ƌĞǀ͘ĞĂƚƵĂůŝǌ͘^ĆŽWĂƵůŽ͗^ĂƌĂŝǀĂ͕

2012, p. 69.
ϴK>/E'Z͕:ĂĐŽď͘Direito Internacional privado..., p. 403.
9 Ibidem.

ĚŝƐƉƀƐ͕ĞŵƐĞƵĂƌƚ͘ϴǑ͕ƋƵĞ͞΀Ɖ΁ĂƌĂƋƵĂůŝĮĐĂƌŽƐďĞŶƐĞƌĞŐƵůĂƌĂƐƌĞůĂĕƁĞƐ
ĂĞůĞƐĐŽŶĐĞƌŶĞŶƚĞƐĂƉůŝĐĂƌͲƐĞͲĄĂůĞŝĚŽƉĂşƐĞŵƋƵĞĞƐƟǀĞƌĞŵƐŝƚƵĂĚŽƐ͟
Ğ͕ŶŽĂƌƚ͘ϵǑ͕ƋƵĞ͞΀Ɖ΁ĂƌĂƋƵĂůŝĮĐĂƌĞƌĞŐĞƌĂƐŽďƌŝŐĂĕƁĞƐ͕ĂƉůŝĐĂƌͲƐĞͲĄĂůĞŝ
ĚŽƉĂşƐĞŵƋƵĞƐĞĐŽŶƐƟƚƵşƌĞŵ͘͟
&ĞŝƚĂƐĞƐƐĂƐĐŽŶƐŝĚĞƌĂĕƁĞƐƐŽďƌĞĂƚĞŽƌŝĂĚĂƐƋƵĂůŝĮĐĂĕƁĞƐ͕ƉĂƐƐĂͲƐĞ
ăĂŶĄůŝƐĞĚĂƉƌŽďůĞŵĄƟĐĂƐŝƚƵĂĚĂŶŽąŵďŝƚŽĚĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘
Os sistemas territorialista e universalista derivaram, indiretamente, da Te-
ŽƌŝĂĚŽƐƐƚĂƚƵƚŽƐ͕ĚĞƐĞŶǀŽůǀŝĚĂĂƉĂƌƟƌĚŽƐĠĐƵůŽy/sƉĞůŽƉſƐͲŐůŽƐĂĚŽƌ
ĄƌƚŽůŽĚĞ^ĂƐƐŽĨĞƌĂƚŽ͕ƵŵĚŽƐŵĂŝƐĞŵŝŶĞŶƚĞƐƉĞŶƐĂĚŽƌĞƐĚĂĐŚĂŵĂĚĂ
ĞƐĐŽůĂŝƚĂůŝĂŶĂ͘ŽŶĨŽƌŵĞĞǆƉůŝĐĂ:ĂĐŽďŽůŝŶŐĞƌ͗
ΗĄƌƚŽůŽĚŝƐƟŶŐƵŝƵĞŶƚƌĞŽƐĚŝƌĞŝƚŽƐƌĞĂŝƐĞŽƐĚŝƌĞŝƚŽƐƉĞƐƐŽ-
ais, noção importante para a elucidação de muitas questões
ĞŵƋƵĞŽĐŽƌƌĞŵĐŽŶŇŝƚŽƐ͕ĐŽŵŽ͕ƉŽƌĞǆĞŵƉůŽ͕ŶĂƐƵĐĞƐƐĆŽ
ĚŽŝŶŐůġƐƋƵĞĚĞŝǆĂƐƐĞďĞŶƐŶĂƐƵĂƚĞƌƌĂĞŶĂ/ƚĄůŝĂ͘^ĞŐƵŶĚŽ
ĂůĞŝŝŶŐůĞƐĂĚĂƋƵĞůĂĠƉŽĐĂ͕ĂƐƵĐĞƐƐĆŽƐĞƚƌĂŶƐŵŝƟĂĞǆĐůƵƐŝ-
ǀĂŵĞŶƚĞƉĂƌĂŽƉƌŝŵŽŐġŶŝƚŽ͕ŽƋƵĞŶĆŽŽĐŽƌƌŝĂŶĂůĞŐŝƐůĂĕĆŽ
italiana. Reger-se-ia a sucessão pela lei pessoal do falecido
ou pela lei territorial dos bens?
Especula o famoso pós-glosador em torno da redação das
ůĞŝƐƐƵĐĞƐƐſƌŝĂƐĞŶǀŽůǀŝĚĂƐ͘^ĞĞůĂƐƐĞƌĞĨĞƌŝƌĞŵĂŽƐďĞŶƐŚĞƌ-
ĚĂĚŽƐ͕ĂƉůŝĐĂƌͲƐĞͲĄĂůĞŝĚĂƐŝƚƵĂĕĆŽĚŽƐďĞŶƐƋƵĞĐŽŵƉƁĞŵ
ĂŚĞƌĂŶĕĂ͕ŵĂƐƐĞƐĞƌĞĨĞƌŝƌĞŵăƉĞƐƐŽĂ͕ŝŶŝĐŝĂŶĚŽͲƐĞĂŶŽƌ-
ŵĂĐŽŵƵŵĂƌĞĨĞƌġŶĐŝĂĂŽƉƌŝŵŽŐġŶŝƚŽ͕ƚƵĚŽĚĞƉĞŶĚĞƌĄƐĞ
ŽĨĂůĞĐŝĚŽĠŽƵŶĆŽŝŶŐůġƐ͗ŶĂƉƌŝŵĞŝƌĂŚŝƉſƚĞƐĞ͕ŽƉƌŝŵŽŐġ-
ŶŝƚŽĮĐĂĐŽŵƚŽĚŽŽƉĂƚƌŝŵƀŶŝŽƐŝƚŽŶĂ/ŶŐůĂƚĞƌƌĂ͖ƐĞŶĆŽĠ
ŝŶŐůġƐ͕ĂŶŽƌŵĂŶĆŽƐĞƌĞĨĞƌĞĂĞůĞ͕ŶĞŵŵĞƐŵŽĐŽŵƌĞůĂĕĆŽ
ĂŽƐďĞŶƐƐŝƚŽƐŶĂƋƵĞůĞƉĂşƐΗ͘10
ŽŵŽƐĞǀġ͕ĄƌƚŽůŽĚĞ^ĂƐƐŽĨĞƌĂƚŽĐŽŶƐĂŐƌŽƵĂĚŝƐƟŶĕĆŽĞŶƚƌĞĂƐ
regras quod disponit circa personarum e quod disponit circa rem. As pri-
meiras, vinculadas ao estatuto pessoal, aplicam-se à pessoa em qualquer
ůƵŐĂƌƋƵĞĞƐƚĞũĂƉƌĞƐĞŶƚĞ͕ĞŶƋƵĂŶƚŽƋƵĞĂƐƐĞŐƵŶĚĂƐ͕ǀŝŶĐƵůĂĚĂƐĂŽĞƐƚĂ-
ƚƵƚŽƌĞĂů͕ƐſƐĞĂƉůŝĐĂŵĂŽƐďĞŶƐƐŝƚƵĂĚŽƐŶŽƚĞƌƌŝƚſƌŝŽĚŽĨŽƌŽ;lex foriͿ11.
ŵŽƵƚƌĂƐƉĂůĂǀƌĂƐ͕ŽĞƐƚĂƚƵƚŽƉĞƐƐŽĂůĠĚŽƚĂĚŽĚĞĞĨĞŝƚŽĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂů
ĂŽƉĂƐƐŽƋƵĞŽĞƐƚĂƚƵƚŽƌĞĂůĠůŝŵŝƚĂĚŽĂŽĞĨĞŝƚŽƚĞƌƌŝƚŽƌŝĂů͘
10 Idem, p. 186-187.
11 Idem, p. 301.

ŽƐĞƚƌĂŶƐƉŽƌĞƐƐĞĚŝƐĐƵƌƐŽƉĂƌĂĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ƚĞŵ-
ͲƐĞĂƐĞŐƵŝŶƚĞƐŝƚƵĂĕĆŽ͗ĐĂƐŽĂĨĂůġŶĐŝĂƐĞũĂĐŽŶƐŝĚĞƌĂĚĂĐŽŵŽƵŵstatus
ĂƚƌĞůĂĚŽăƉĞƐƐŽĂĚŽĚĞǀĞĚŽƌ͕ĞƐƚĂƌŝĂŝŶĐůƵşĚĂĞŵƐĞƵĞƐƚĂƚƵƚŽƉĞƐƐŽĂů͕
ƌĂǌĆŽƉĞůĂƋƵĂůĚĞǀĞƌŝĂƐĞƌƌĞĐŽŶŚĞĐŝĚĂŶŽąŵďŝƚŽĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂů͘EĞƐƐĂ
ǀŝƐĆŽ͕ƐĞƵƉĂƚƌŝŵƀŶŝŽ͕ĐŽŵŽƵŵĂƵŶŝǀĞƌƐĂůŝĚĂĚĞĚĞĚŝƌĞŝƚŽ͕ĠƵŶŽĞŝŶĚŝǀŝ-
ƐşǀĞů͘WŽƌŽƵƚƌŽůĂĚŽ͕ƐĞĨŽƌĐŽŶƐŝĚĞƌĂĚĂĐŽŵŽƵŵƉƌŽĐĞƐƐŽĐŽŶĐƵƌƐĂůƋƵĞ
ĂƉĞŶĂƐǀŝƐĂĂĂĚŵŝŶŝƐƚƌĂƌĞĂůŝĞŶĂƌŽƐďĞŶƐĚŽĚĞǀĞĚŽƌ͕ĂĨĂůġŶĐŝĂĞƐƚĂƌŝĂ
inserida no estatuto real, razão pela qual deveria restringir a aplicação de
suas normas ao âmbito territorial12͘sġͲƐĞ͕ƉŽƌƚĂŶƚŽ͕ƋƵĞĂƋƵĂůŝĮĐĂĕĆŽĚŽ
ĂƐƐƵŶƚŽĞůƵĐŝĚĂĂĚĞƚĞƌŵŝŶĂĕĆŽĚĂũƵƌŝƐĚŝĕĆŽĐŽŵƉĞƚĞŶƚĞƉĂƌĂŽƉƌŽĐĞƐƐŽ
ĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘ůƵĐŝĚĂ,ĂƌŽůĚŽsĂůůĂĚĆŽ͗
ΗKƉƌŽďůĞŵĂĚĂĨĂůġŶĐŝĂŶŽĚŝƌĞŝƚŽŝŶƚĞƌŶĂĐŝŽŶĂůƉƌŝǀĂĚŽĨŽŝ
ĂďŽƌĚĂĚŽ ůŽŶŐĂŵĞŶƚĞ ĚĞƐĚĞ ĂƐ ŽƌŝŐĞŶƐ ĚĂ ŶŽƐƐĂ ĐŝġŶĐŝĂ͕
ĚĞƐĚĞ Ă ƚĞŽƌŝĂ ĚŽƐ ĞƐƚĂƚƵƚŽƐ͕ ĐůĂƐƐŝĮĐĂŶĚŽ Ž ŝŶƐƟƚƵƚŽ ŽƌĂ
como pessoal ;ŝŶĐĂƉĂĐŝĚĂĚĞ ĚŽ ĨĂůŝĚŽͿ͕ ůĞǀĂŶĚŽ ă ĞǆƚƌĂƚĞƌ-
ƌŝƚŽƌŝĂůŝĚĂĚĞ͕Ğ͕ƉŽŝƐ͕ăƵŶŝĚĂĚĞĞƵŶŝǀĞƌƐĂůŝĚĂĚĞĚĂĨĂůġŶĐŝĂ
;E^>h^͕>hͿ͕ŽƌĂĐŽŵŽreal;ƌĞĨĞƌĞŶƚĞĂďĞŶƐŽƵĞŵ
ŐĞƌĂůŽƵƉĂƌĂĂůŐƵŶƐ͗ƐſƋƵĂŶƚŽĂŽƐďĞŶƐŝŵſǀĞŝƐͿĐŽŶĚƵǌŝŶ-
ĚŽăƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞ͕ăƉůƵƌĂůŝĚĂĚĞĚĂĨĂůġŶĐŝĂ;^Z'/^Ϳ͕
ĞĂƚĠŵĞƐŵŽŽƵƚƌŽƐ͕ŽƌĂƌĞĂůŽƌĂƉĞƐƐŽĂů͕ƚĞŽƌŝĂŵŝƐƚĂŽƵƐŝƐ-
ƚĞŵĂŝŶƚĞƌŵĞĚŝĄƌŝŽ͘Η13
ĐĞŶƚƵĂŶĚŽĂŝŵƉŽƌƚąŶĐŝĂĚĂƋƵĞƐƚĆŽ͕ƐĂůŝĞŶƚĂ/ƌŝŶĞƵ^ƚƌĞŶŐĞƌ͗
΀͘͘͘΁ΗƉƌŽĐƵƌĂŶĚŽĂƉůŝĐĂƌĂĐĂĚĂƌĞůĂĕĆŽĚĞĚŝƌĞŝƚŽŽĚŽŵşŶŝŽ
mais adequado à sua natureza, no anseio da essencialidade
ĚĂƋƵĞďƌĂ͕ǀŽůƚĂͲƐĞƐĞŵƉƌĞĂƵŵĂŝŵƉŽƌƚĂŶƚĞƋƵĞƐƚĆŽ͗ĂĨĂ-
ůġŶĐŝĂĠĚĞŶĂƚƵƌĞǌĂƌĞĂůŽƵƉĞƐƐŽĂů͍ƐŽůƵĕĆŽƐĞĞǆƉĂŶĚĞ
ĞŵĚƵĂƐĚŽƵƚƌŝŶĂƐ͗ĚĂƵŶŝĚĂĚĞƉĂƌĂŽƐĂĚĞƉƚŽƐƋƵĞƐĆŽĚĞ
ŶĂƚƵƌĞǌĂƉĞƐƐŽĂů͖ĞĚĂƉůƵƌĂůŝĚĂĚĞƉĂƌĂŽƐƋƵĞƐĞĂůŝŶŚĂŵŶĂ
ĚŝƌĞĕĆŽĚŽĐĂƌĄƚĞƌƌĞĂůΗ͘ 14
ϭϮDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϱ͘
13 VALLADÃO, Haroldo. ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͕ƉŽƐŝƟǀĂĞĚŽƵƚƌŝŶĄƌŝĂ͕ĞƐ-
pecialmente dos Estados americanos.s͘///͕WĂƌƚĞĞƐƉĞĐŝĂů;ĮŵͿ͖ŽŶŇŝƚŽƐĚĞůĞŝƐĐŽŵĞƌĐŝĂŝƐ͕ĐĂŵďŝĂŝƐ͕ĨĂůŝŵĞŶƚĂƌĞƐ͕
ŵĂƌşƟŵĂƐ͕ĂĞƌŽĞƐƉĂĐŝĂŝƐ͕ŝŶĚƵƐƚƌŝĂŝƐ͕ƚƌĂďĂůŚŝƐƚĂƐ͕ƉƌŽĐĞƐƐƵĂŝƐ͕ƉĞŶĂŝƐ͕ĂĚŵŝŶŝƐƚƌĂƟǀĂƐ͕ĮƐĐĂŝƐĞĞĐůĞƐŝĄƐƟĐĂƐ͘ZŝŽĚĞ
:ĂŶĞŝƌŽ͗&ƌĞŝƚĂƐĂƐƚŽƐ͕ϭϵϳϴ͕Ɖ͘ϯϳͲϯϴ͘
ϭϰ^dZE'Z͕/ƌŝŶĞƵ͘Direito Internacional Privado͘ϲ͘ĞĚ͘^ĆŽWĂƵůŽ͗>dƌ͕ϮϬϬϱ͕Ɖ͘ϵϮϰͲϵϮϱapudd/hZ/K͕ĂƌŵĞŶ͘
ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐĚĂĨĂůġŶĐŝĂΗ͘Revista de Direito Bancário e do Mercado de Capitais. V. 16, ano 2013, n. 62,
ŶŽƚĂĚĞƌŽĚĂƉĠŶǑϭϵ͘

ůĠŵĚĞƐƐĂƐƋƵĂůŝĮĐĂĕƁĞƐĂƉƌĞƐĞŶƚĂĚĂƐ͕ĠƉŽƐƐşǀĞů͕ĂŝŶĚĂ͕ĞŶƋƵĂ-
ĚƌĂƌĂŝŶƐŽůǀġŶĐŝĂĞŵŽƵƚƌŽƐŵŽůĚĞƐũƵƌşĚŝĐŽƐ͘ĂƌŵĞŶdŝďƷƌĐŝŽƚƌĂǌŵĂŝƐ
ƚƌġƐƉŽƐƐşǀĞŝƐƋƵĂůŝĮĐĂĕƁĞƐ15͘ƉƌŝŵĞŝƌĂĚĞůĂƐĠƋƵĂůŝĮĐĂƌŽƉƌŽĐĞƐƐŽĚĞ
ŝŶƐŽůǀġŶĐŝĂ ĐŽŵŽ ƋƵĞƐƚĆŽ ŽďƌŝŐĂĐŝŽŶĂů͘ ŽŵŽ ǀŝƐƚŽ ŶĂ ƉŽƐŝĕĆŽ ĚĞ ĞĂƚ
tĂůƚĞƌZĞĐŚƐƚĞŝŶĞƌĞ:ĂĐŽďŽůŝŶŐĞƌ͕ƉƌĞǀĂůĞĐĞŽĞŶƚĞŶĚŝŵĞŶƚŽĚĞƋƵĞ͕
Ğŵ ŵĂƚĠƌŝĂ ĚĞ ŽďƌŝŐĂĕƁĞƐ͕ ĚĞǀĞ ƐĞƌ ƵƟůŝǌĂĚĂ Ă lex causae não só para
ƌĞŐĞƌ ĐŽŵŽ ƚĂŵďĠŵ ƉĂƌĂ ƋƵĂůŝĮĐĂƌ͘ ĞƐƐĞ ŵŽĚŽ͕ ĞŶƚĞŶĚĞŶĚŽͲƐĞ ĐŽŵŽ
ƋƵĞƐƚĆŽŽďƌŝŐĂĐŝŽŶĂů͕ĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞƐĞƌŝĂƵƟůŝǌĂĚĂƉĂƌĂĚĞƚĞƌŵŝŶĂƌĂ
ũƵƌŝƐĚŝĕĆŽ͕ĚĞƐƚĂƌƚĞ͕ŚĂǀĞƌŝĂƚĂŶƚŽƐƉƌŽĐĞƐƐŽƐĚĞĨĂůġŶĐŝĂƋƵĂŶƚŽƐĨŽƐƐĞŵ
ŽƐĐƌĞĚŽƌĞƐ͕ƉŽƌĠŵĂĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞ;ŽƵƵŶŝǀĞƌƐĂůŝĚĂĚĞͿƐĞƌŝĂŝŶǀŽ-
ĐĂĚĂƉĂƌĂĚĞƚĞƌŵŝŶĂƌĂůĞŝĂƉůŝĐĄǀĞůăƐƌĞůĂĕƁĞƐũƵƌşĚŝĐĂƐƐƵďũĂĐĞŶƚĞƐ͕ƌĞ-
ŐĞŶĚŽĂƐŽďƌŝŐĂĕƁĞƐ;lex causaeͿ͘ĂƵƚŽƌĂĂďŽƌĚĂ͕ĂŝŶĚĂ͕ĂŚŝƉſƚĞƐĞĚĞ
ŚĂǀĞƌƵŵŵĞƐŵŽĞůĞŵĞŶƚŽĚĞĐŽŶĞǆĆŽƉĂƌĂĂƐƌĞůĂĕƁĞƐŶŽƐŽƌĚĞŶĂŵĞŶ-
ƚŽƐũƵƌşĚŝĐŽƐĚŽƐĚŝƐƟŶƚŽƐƉĂşƐĞƐĞŶǀŽůǀŝĚŽƐŶŽƉƌŽĐĞƐƐŽ͗
ΗEĂŚŝƉſƚĞƐĞĚĞŚĂǀĞƌƵŵĞůĞŵĞŶƚŽĚĞĐŽŶĞǆĆŽĞŵĐŽŵƵŵ͕
independentemente de onde aƋƵĞƐƚĆŽĨŽƌĞǆĂŵŝŶĂĚĂ͕ĂƐƌĞ-
ůĂĕƁĞƐƐĞƌĆŽƌĞŐŝĚĂƐƉŽƌĂƉĞŶĂƐƵŵĂůĞŝ͕ƋƵĞƐĞƌĄĂƉůŝĐĄǀĞůăƐ
questões obrigacionais.
ĞƐƚĂĨŽƌŵĂ͕ŶĂŵĞƐŵĂŚŝƉſƚĞƐĞĂŶƚĞƌŝŽƌ͕ĞǆŝƐƟƌĆŽĚŽŝƐƉƌŽ-
ĐĞƐƐŽƐĚĞĨĂůġŶĐŝĂ͗ƵŵŶĂ&ƌĂŶĕĂ͕ƵŵŶŽƌĂƐŝů͕ŵĂƐŶŽƐĚŽŝƐ͕
ƚĞŽƌŝĐĂŵĞŶƚĞ͕ĚĞǀĞƌŝĂƐĞƌĂƉůŝĐĂĚĂĂŵĞƐŵĂůĞŝƉĂƌĂƐĂƟƐĨĂǌĞƌ
ĂŽďƌŝŐĂĕĆŽ͘EĂƉƌĄƟĐĂ͕ƚŽĚĂǀŝĂ͕ŶĞƐƐĂŚŝƉſƚĞƐĞƚĂŵďĠŵĂĐĂ-
ďĂƌĄƐĞŶĚŽĂƉůŝĐĂĚĂĂƚĞŽƌŝĂĚĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞƉĂƌĂĚĞƚĞƌŵŝ-
ŶĂƌĂůĞŝĂƉůŝĐĄǀĞů͘ŵƉƌŝŵĞŝƌŽůƵŐĂƌ͕ĞŵƌĂǌĆŽĚĂƐĚŝƐƟŶƚĂƐ
ƌĞŐƌĂƐĚĞĐŽŶĞǆĆŽĚĞĐĂĚĂƉĂşƐ;ŶŽƌĂƐŝů͕ĂƐŽďƌŝŐĂĕƁĞƐĐŽŶ-
ƚƌĂƚƵĂŝƐƐĆŽƌĞŐŝĚĂƐƉĞůĂůĞŝĚŽƉĂşƐŽŶĚĞŽĐŽŶƚƌĂƚŽĠĐŽŶĐůƵş-
ĚŽ͖ŶĂ&ƌĂŶĕĂ͕Ždroit commun ĐŽŶƐŝĚĞƌĂĐŽŵŽůĞŝĂƉůŝĐĄǀĞůăƐ
ŽďƌŝŐĂĕƁĞƐ͕ĞŵŐĞƌĂů͕ĂĚŽƉĂşƐĚĂĞǆĞĐƵĕĆŽĚŽĐŽŶƚƌĂƚŽͿ͘ůĠŵ
ĚŝƐƐŽ͕ŶĆŽĠŝŶĐŽŵƵŵƋƵĞĂƐŽďƌŝŐĂĕƁĞƐƉŽƐƐƵĂŵĞůĞŵĞŶƚŽƐ
ĚĞ ĐŽŶĞǆĆŽ ĚŝƐƟŶƚŽƐ͖ ŽƌĂ ƐĞƌĆŽ ĐŽŶƐƟƚƵşĚĂƐ Ğŵ ƉĂşƐĞƐ ĚŝĨĞ-
ƌĞŶƚĞƐ͕ŽƌĂŚĂǀĞƌĄĐůĄƵƐƵůĂĚĞĞƐĐŽůŚĂĚĂůĞŝĂƉůŝĐĄǀĞůŽƵĂŝŶĚĂ
ĚĞǀĞƌĆŽƐĞƌĐƵŵƉƌŝĚĂƐĞŵůŽĐĂŝƐĚŝĨĞƌĞŶƚĞƐΗ͘16
ĚĞŵĂŝƐ͕ŽƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂƉŽĚĞƐĞƌĐůĂƐƐŝĮĐĂĚŽĐŽŵŽƋƵĞƐ-
ƚĆŽĚĞŝŶƚĞƌĞƐƐĞĐŽůĞƟǀŽ͘KũƵşǌŽĚŽůŽĐĂůĚŽprincipal estabelecimento do
ϭϱd/hZ/K͕ĂƌŵĞŶ͘ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ͘͘͘Η͕Ɖ͘ϮϬϯ͘
16 Ibidem.

devedor;ƚĞƌŵŝŶŽůŽŐŝĂƵƟůŝǌĂĚĂƉĞůŽĂƌƚ͘ϯǑĚĂ>ĞŝŶǑϭϭ͘ϭϬϭͬϬϱ͕ĂƚƵĂůĚŝ-
ƉůŽŵĂĨĂůŝŵĞŶƚĂƌďƌĂƐŝůĞŝƌŽͿĠŽƉƌŝŶĐŝƉĂůŝŶƚĞƌĞƐƐĂĚŽĞŵũƵůŐĂƌŽƉƌŽĐĞƐƐŽ͕
ĚĞŵŽĚŽƋƵĞƐĞƌŝĂƵŶŝǀĞƌƐĂůƚĂŶƚŽĞŵƌĞůĂĕĆŽăƐƵĂũƵƌŝƐĚŝĕĆŽƋƵĂŶƚŽăůĞŝ
ĂƉůŝĐĄǀĞů͘WƌĞǀĂůĞĐĞ͕ĚĞƐƐĞŵŽĚŽ͕ĂƚĞŽƌŝĂĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞĚĂĨĂůġŶĐŝĂŽƵ
ƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͘WŽƌĮŵ͕ŽƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂƉŽĚĞƐĞĞŶƋƵĂĚƌĂƌ
ĐŽŵŽƋƵĞƐƚĆŽƉƌŽĐĞĚŝŵĞŶƚĂů͕ŚĂũĂǀŝƐƚĂƐĞƚƌĂƚĂƌ͕ŶŽĐĂƐŽĚĂĨĂůġŶĐŝĂ͕ĚĞ
ĞǆĞĐƵĕĆŽĐŽůĞƟǀĂĚŽƐďĞŶƐĨĂůŝĚŽ͕ůĞǀĂŶĚŽ͕ĐŽŶƐĞƋƵĞŶƚĞŵĞŶƚĞ͕ăĂƉůŝĐĂĕĆŽ
da lex foriƉĂƌĂƚƵĚŽƋƵĞĐŽŶĐĞƌŶŝƌăŝŶƐŽůǀġŶĐŝĂ͘
Considerando que, via de regra, aplica-se a lex fori ƉĂƌĂĂƋƵĂůŝĮ-
ĐĂĕĆŽ͕ƉĞƌĐĞďĞͲƐĞ͕ĂơƚƵůŽĞǆĞŵƉůŝĮĐĂƟǀŽ͕ĐŽŵŽĂŽƉĞƌĂĕĆŽĠĐŽŵƉůĞǆĂ
ƋƵĂŶĚŽƌĞĂůŝǌĂĚĂĐŽŵĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͕ĚŝƐĐŝƉůŝŶĂĚĂƚĂŵďĠŵƉĞůĂ
>ĞŝŶǑϭϭ͘ϭϬϭͬϬϱ͘ƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĠŽŵĞŝŽƉĞůŽƋƵĂůŽĞŵƉƌĞƐĄƌŝŽ
ƚĞŵĂƉŽƐƐŝďŝůŝĚĂĚĞĚĞƐĞƌĞĐƵƉĞƌĂƌĚĞƵŵĂĐƌŝƐĞĞĐŽŶƀŵŝĐŽͲĨŝŶĂŶĐĞŝƌĂ
ĞŵƋƵĞƚĞŶŚĂƐƵďŵĞƌŐŝĚŽ͘ƵŵƉƌŽĐĞƐƐŽũƵĚŝĐŝĂů͕ƉŽƌĠŵĐŽŵŵƷůƟƉůĂƐ
peculiaridades. HĄĚƵĂƐĐŽƌƌĞŶƚĞƐďĞŵĚĞĨŝŶŝĚĂƐ no direito brasileiro em
ƌĞůĂĕĆŽăƐƵĂŶĂƚƵƌĞǌĂũƵƌşĚŝĐĂ͘WĂƌĂ:ŽƌŐĞ>ŽďŽ͗
ΗWĂƌĂŵŝŵ͕ĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĂĞŵƉƌĞƐĂĠƵŵŝŶƐƟƚƵƚŽ
ĚĞŝƌĞŝƚŽĐŽŶƀŵŝĐŽ͕ƉŽŝƐŶĆŽƐĞƉĂƵƚĂƉĞůĂŝĚĞŝĂĚĞ:ƵƐƟĕĂ͕
ŵĂƐ ĚĞ ĞĮĐĄĐŝĂ ƚĠĐŶŝĐĂ ŶƵŵĂ ǌŽŶĂ ŝŶƚĞƌŵĞĚŝĄƌŝĂ ĞŶƚƌĞ ŝ-
ƌĞŝƚŽWƌŝǀĂĚŽĞŽŝƌĞŝƚŽWƷďůŝĐŽ͕ĐĂƌĂĐƚĞƌŝǌĂŶĚŽͲƐĞƉŽƌƵŵĂ
ƵŶŝĚĂĚĞƚƌşƉůŝĐĞ͗ĚĞĞƐƉşƌŝƚŽ͕ĚŽŽďũĞƚŽĞĚĞŵĠƚŽĚŽΗ͘17
^ĠƌŐŝŽĂŵƉŝŶŚŽĂƉƌĞƐĞŶƚĂŽƉŝŶŝĆŽĚŝǀĞƌƐĂ͗
Η΀΁ŵ ŶŽƐƐĂ ǀŝƐĆŽ͕ Ž ŝŶƐƟƚƵƚŽ ĚĂ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů ĚĞǀĞ

ƐĞƌ ǀŝƐƚŽ ĐŽŵ Ă ŶĂƚƵƌĞǌĂ ĚĞ Ƶŵ ĐŽŶƚƌĂƚŽ ũƵĚŝĐŝĂů͕ ĐŽŵ ĨĞŝ-
ĕĆŽŶŽǀĂƟǀĂ͕ƌĞĂůŝǌĄǀĞůĂƚƌĂǀĠƐĚĞƵŵƉůĂŶŽĚĞƌĞĐƵƉĞƌĂĕĆŽ͕
obedecidas, por parte do devedor, determinadas condições
ĚĞ ŽƌĚĞŶƐ ŽďũĞƟǀĂ Ğ ƐƵďũĞƟǀĂ ƉĂƌĂ ƐƵĂ ŝŵƉůĞŵĞŶƚĂĕĆŽ͘
ƉĞƌĨĞĐƟďŝůŝĚĂĚĞĚŽĂĐŽƌĚŽŶĆŽĞǆŝŐĞĂŵĂŶŝĨĞƐƚĂĕĆŽƵŶąŶŝ-
ŵĞĚĂƐǀŽŶƚĂĚĞƐĚŽƐĐƌĞĚŽƌĞƐ͕ƐĞŶĚŽƐƵĮĐŝĞŶƚĞƐƵĂĨŽƌŵĂ-
ção entre o devedor e uma maioria legalmente estabelecida
de credores, capaz de obrigar a minoria. A massa de credores
ĠƋƵĞŵĚĞĐůĂƌĂĂƐƵĂǀŽŶƚĂĚĞ͕ĂƚƌĂǀĠƐĚŽſƌŐĆŽĚĞůŝďĞƌĂŶƚĞ͗
ĂĂƐƐĞŵďůĞŝĂͲŐĞƌĂůĚĞĐƌĞĚŽƌĞƐ͘ŝƐƐŽƐĞũƵƐƟĮĐĂƉŽƌƋƵĞŽ
ϭϳ>KK͕:ŽƌŐĞ͘ΗŽŵĞŶƚĄƌŝŽĂŽĂƌƟŐŽϰϳΗ͘In͗dK>K͕WĂƵůŽ&ĞƌŶĂŶĚŽ&͘͘^ĂůůĞƐĚĞ͖ZK͕ĂƌůŽƐ,ĞŶƌŝƋƵĞ
;ŽŽƌĚͿ͘Comentários à lei de recuperação de Empresas e Falência͘ϱ͘ĞĚ͘^ĂƌĂŝǀĂ͗^ĆŽWĂƵůŽ͕ϮϬϭϮ͕Ɖ͘ϭϲϵ͘

ĮŵĚŽƉƌŽĐĞƐƐŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĞǀĞƐĞƌƷŶŝĐŽƉĂƌĂ
todos, pois a relação procĞƐƐƵĂůƋƵĞƐĞĞƐƚĂďĞůĞĐĞĠƷŶŝĐĂ͘Η18
ŽŵŽ ƐĞ ǀġ͕ :ŽƌŐĞ >ŽďŽ ŶĆŽ ƌĞĐŽŶŚĞĐĞ Ă ƌĞĐƵƉĞƌĂĕĆŽ ĐŽŵŽ Ƶŵ
ŝŶƐƟƚƵƚŽĞŵŝŶĞŶƚĞŵĞŶƚĞĚĞĚŝƌĞŝƚŽƉƌŝǀĂĚŽ͕ŝƐƚŽĠ͕ĐŽŵŽƵŵĂĐŽƌĚŽĐĞ-
lebrado entre os credores e nem mesmo como um processo. Esse autor
ŽƉƚĂƉŽƌƵŵĂƉŽƐŝĕĆŽŝŶƚĞƌŵĞĚŝĄƌŝĂĞŶƚƌĞŽĚŝƌĞŝƚŽƉƷďůŝĐŽĞŽƉƌŝǀĂĚŽ͕
ŝŶƐĞƌŝĚĂ ŶŽ ŝƌĞŝƚŽ ĐŽŶƀŵŝĐŽ͕ ƉƌĞƐƟŐŝĂŶĚŽ͕ ŶĂ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů͕ Ă
ĞĮĐŝġŶĐŝĂƚĠĐŶŝĐĂĚĂĚĞĐŝƐĆŽĞŵĨĂĐĞĚĂƉƌſƉƌŝĂŶŽĕĆŽĚĞũƵƐƟĕĂ͘ĞƐƐĞ
ŵŽĚŽ͕ŽĐƌĞĚŽƌƉŽĚĞƌĄƐĂŝƌŝŶƐĂƟƐĨĞŝƚŽĞŵĂůŐƵŵĂƐƐŝƚƵĂĕƁĞƐ͕ŵĂƐĞƐƐĂĠ
ĂŶĞĐĞƐƐŝĚĂĚĞŝŵƉŽƐƚĂ͕ĞŵƌĂǌĆŽĚŽŽďũĞƟǀŽĚŽŝŶƐƟƚƵƚŽ͘
A posição de ^ĠƌŐŝŽ ĂŵƉŝŶŚŽ͕ ƉŽƌ ƐƵĂ ǀĞǌ͕ ĞŶƚĞŶĚĞ Ă ƌĞĐƵƉĞƌĂ-
ĕĆŽũƵĚŝĐŝĂůĐŽŵŽƵŵĐŽŶƚƌĂƚŽƋƵĞ͕ŚŽŵŽůŽŐĂĚŽĞŵũƵşǌŽ͕ůĞǀĂăŶŽǀĂĕĆŽ
ĚĂƐŽďƌŝŐĂĕƁĞƐĚŽƌĞĐƵƉĞƌĂŶĚŽ͘ĐŽŶƐŝĚĞƌĂĚŽĐŽŶƚƌĂƚŽũƵĚŝĐŝĂůƉŽƌƋƵĞĂ
ƉĂĐƚƵĂĕĆŽĐŽŵŽƐĐƌĞĚŽƌĞƐƐĞĚĄĞŵũƵşǌŽ͘WŽƌŽƵƚƌŽůĂĚŽ͕ƉŽƐƐƵŝĞĮĐĄĐŝĂ
ŶŽǀĂƟǀĂ͕ƉŽŝƐ͕ĐŽŶĐĞĚŝĚĂĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĐŽŵďĂƐĞŶŽƉůĂŶŽĂƉƌŽ-
ǀĂĚŽ͕ĂƐŽďƌŝŐĂĕƁĞƐƋƵĞĂƚĠĞŶƚĆŽĞǆŝƐƟĂŵƉĂƐƐĂŵĂĂƐƐƵŵŝƌĚŽƌĂǀĂŶƚĞ
novos moldes.
Desse modo, a concepção da natureza contratual da recuperação
ũƵĚŝĐŝĂů ƉŽĚĞ ůĞǀĂƌ Ă ƋƵĂůŝĮĐĂĕĆŽ ĚĂ ƌĞĐƵƉĞƌĂĕĆŽ ĐŽŵŽ ƋƵĞƐƚĆŽ ŽďƌŝŐĂ-
ĐŝŽŶĂů͕ĐŽŶĚƵǌŝŶĚŽăƵƟůŝǌĂĕĆŽĚŽƐŝƐƚĞŵĂĚĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞ͕ƉĂƌĂĚĞƚĞƌ-
ŵŝŶĂƌĂũƵƌŝƐĚŝĕĆŽ͕ĞŽĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞ͕ƉĂƌĂĚĞƚĞƌŵŝŶĂƌĂůĞŝĂƉůŝĐĄǀĞů
às obrigações. Por outro lado, adotando-se a posição de Jorge Lobo, a
ƌĞĐƵƉĞƌĂĕĆŽƉŽĚĞƐĞƌƋƵĂůŝĮĐĂĚĂ͕v.g.͕ĐŽŵŽƋƵĞƐƚĆŽĚĞŝŶƚĞƌĞƐƐĞĐŽůĞƟ-
ǀŽ͕ĨĂǌĞŶĚŽƉƌĞǀĂůĞĐĞƌŽƐŝƐƚĞŵĂĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞƚĂŶƚŽƉĂƌĂũƵƌŝƐĚŝĕĆŽ
ƋƵĂŶƚŽ ůĞŝ ĂƉůŝĐĄǀĞů͕ ƉŽƐƐƵŝŶĚŽ ĐŽŵŽ ŶŽƌƚĞ Ă ƉƌĞƐĞƌǀĂĕĆŽ ĚĂ ĂƟǀŝĚĂĚĞ
ĞĐŽŶƀŵŝĐĂĚŽƌĞĐƵƉĞƌĂŶĚŽ͕ŝŶŽďƐƚĂŶƚĞŚĂũĂĨƌŽŶƚĞŝƌĂƐŶĂĐŝŽŶĂŝƐ͘ƋƵĞƐ-
ƚĆŽ͕ĐŽŵŽƐĞǀġ͕ĠďĂƐƚĂŶƚĞĐŽŵƉůĞǆĂĞŽĨĞƌĞĐĞĚŝǀĞƌƐĂƐĂůƚĞƌŶĂƟǀĂƐ͘
KĂĐĂůŽƌĂĚŽĚĞďĂƚĞĂŶşǀĞůŵƵŶĚŝĂůĂĐĞƌĐĂĚĞĂŵďŽƐŽƐƐŝƐƚĞŵĂƐ
ĨŽŝŝŵƉƵůƐŝŽŶĂĚŽƉĞůŽƐƌĞŇĞǆŽƐĚĂĐƌŝƐĞĚŽƉĞƚƌſůĞŽĚĂĚĠĐĂĚĂĚĞϭϵϳϬ͘
ŶƚĞƐĚĞƐƐĂĚĂƚĂ͕ƌĂƌŽƐĞƌĂŵŽƐĐĂƐŽƐĐŽŶĐƌĞƚŽƐĞŶǀŽůǀĞŶĚŽĂŵĂƚĠƌŝĂ͕
ƐĞŶĚŽĐŽŵƵŵƋƵĞĂƐĂŶĄůŝƐĞƐŽĐŽƌƌĞƐƐĞŵĐŽŵŵĂŝƐĨƌĞƋƵġŶĐŝĂŶŽĐĂŵƉŽ
ĂĐĂĚġŵŝĐŽ19͘ ƚƵĂůŵĞŶƚĞ͕ ũĄ ƐĞ ǀŝƐůƵŵďƌĂŵ ŝŶƷŵĞƌĂƐ ůŝĚĞƐ ĂŽ ƌĞĚŽƌ ĚŽ
globo, tendo o tema conquistado frequentemente interesse dos mais di-
versos estudiosos do direito.
ϭϴDW/E,K͕^ĠƌŐŝŽ͘ Falência e Recuperação de Empresa͗KEŽǀŽZĞŐŝŵĞĚĞ/ŶƐŽůǀġŶĐŝĂŵƉƌĞƐĂƌŝĂů͘ϰǐĞĚ͘ƌĞǀ͘
ĞĂƚƵĂůŝǌ͘ZĞŶŽǀĂƌ͗ZŝŽĚĞ:ĂŶĞŝƌŽ͕ϮϬϬϵ͕Ɖ͘ϭϮͲϭϯ͘
ϭϵDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϰ͘

3. O SISTEMA UNIVERSALISTA
O universalismo ĠŽƐŝƐƚĞŵĂƉƌĞĨĞƌŝĚŽĚŽƐĂĐĂĚġŵŝĐŽƐ͕ĞƐƚĂŶĚŽŶŽ
cerne de seus ideais20͘dƌĂƚĂͲƐĞĚĞƵŵũƵşǌŽĨĂůŝŵĞŶƚĂƌƵŶŝǀĞƌƐĂů21, respon-
ƐĄǀĞůƉŽƌĂĚŵŝŶŝƐƚƌĂƌƚŽĚŽƐŽƐďĞŶƐĚŽĚĞǀĞĚŽƌ͕ŽŶĚĞƋƵĞƌƋƵĞƐĞĞŶĐŽŶ-
ƚƌĞŵ͕ĞĚŝƐƚƌŝďƵşͲůŽƐƉĂƌĂĐƌĞĚŽƌĞƐƉŽƌƚŽĚŽŽŵƵŶĚŽ22, mediante a aplica-
ĕĆŽĚĞƵŵĂƷŶŝĐĂůĞŝ͕ŐĞƌĂůŵĞŶƚĞĂƋƵĞůĂĚŽůŽĐĂůĚĞĂďĞƌƚƵƌĂĚŽƉƌŽĐĞƐƐŽ
;lex fori concursusͿ23. Parte-se do pressuposto de que as fronteiras dos
ƉĂşƐĞƐŶĆŽĚĞǀĞŵŽĨĞƌĞĐĞƌŽďƐƚĄĐƵůŽƐƉĂƌĂůŝƋƵŝĚĂƌŽƵƌĞcuperar a socie-
ĚĂĚĞŽƵŐƌƵƉŽƐŽĐŝĞƚĄƌŝŽĞŵĐƌŝƐĞ͘ƌĞƐƉĞŝƚŽ͕&ƌĞĚĞƌŝĐŬdƵŶŐĐŽŵĞŶƚĂ͗
ΗdŚĞďĂƐŝĐƉƌĞŵŝƐĞƚŽƵŶŝǀĞƌƐĂůŝƐŵŝƐƚŚĂƚŶĂƟŽŶĂůďŽƌĚĞƌƐ
ƐŚŽƵůĚ ŶŽƚ ŝŶƚĞƌĨĞƌĞ ǁŝƚŚ ďƵƐŝŶĞƐƐ ƌĞĐŽŶƐƚƌƵĐƟŶŐ͘ DĂǆŝŵŝ-
ǌŝŶŐĂƐƐĞƚǀĂůƵĞĂŶĚĚŝƐƚƌŝďƵƟŶŐƚŚĂƚǀĂůƵĞĂŵŽŶŐĐůĂŝŵĂŶƚƐ
are economicĂĐƟǀŝƟĞƐ͘dŚĞŝƌƉƌŽƉĞƌĐŽŶĚƵĐƚƐŚŽƵůĚŶŽƚďĞ
ĂīĞĐƚĞĚďǇƚŚĞůŽĐĂƟŽŶŽĨƉĂƌƟĐƵůĂƌĂƐƐĞƚƐŽƌƚŚĞƚĞƌƌŝƚŽƌŝĂů
ĂƩƌŝďƵƚĞƐ ŽĨ ĐůĂŝŵĂŶƚƐ͘ ƵŶŝĮĞĚ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ƵŶĚĞƌ ƚŚĞ
ŚŽŵĞ ĐŽƵŶƚƌǇ ŝŶƐŽůǀĞŶĐǇ ƌĞŐŝŵĞ ŽīĞƌƐ ƉƌĞĚŝĐƚĂďŝůŝƚǇ͕ Ğĸ-
ĐŝĞŶĐǇ͕ĂŶĚĨĂŝƌŶĞƐƐ͕ĂǀŽŝĚŝŶŐƚŚĞƉƌŽďůĞŵƐƚŚĂƚĂƐƚĂƚĞͲďǇ-
ͲƐƚĂƚĞƉŝĞĐĞŵĞĂůĂƉƉƌŽĂĐŚǁŽƵůĚƉƌĞƐĞŶƚ͘Η24
ϮϬ</WE/^͕ůĞǆĂŶĚĞƌD͘ΗBeyond UNCITRAL͗ůƚĞƌŶĂƟǀĞƐƚŽhŶŝǀĞƌƐĂůŝƚǇŝŶdƌĂŶƐŶĂƟŽŶĂů/ŶƐŽůǀĞŶĐǇΗ͘ Denver Jour-
ŶĂůŽĨ/ŶƚĞƌŶĂƟŽŶĂů>ĂǁĂŶĚWŽůŝĐǇ͘s͘ϯϲ͕ϭϱϲ;ϮϬϬϲͿ͘ŝƐƉŽŶşǀĞůĞŵ͗ŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐƚƌĂĐƚсϵϭϯϴϰϰ͘ĐĞƐƐŽĞŵ͗
13.03.2016, p. 26.
ϮϭsĞũĂͲƐĞĚĞĮŶŝĕĆŽĚŽƵŶŝǀĞƌƐĂůŝƐŵŽƉŽƌĂƌŵĞŶdŝďƵƌĐŝŽ͗͞WĂƌĂĂƚĞŽƌŝĂƵŶŝǀĞƌƐĂůŝƐƚĂ͕ĂĨĂůġŶĐŝĂĚĞĐůĂƌĂĚĂƉŽƌƵŵĂ
ũƵƌŝƐĚŝĕĆŽƐĞĞƐƚĞŶĚĞĂŽƵƚƌĂƐ͕ƉƌŽĚƵǌŝŶĚŽĞĨĞŝƚŽƐĞŵƚŽĚŽƐŽƐůŽĐĂŝƐŶŽƐƋƵĂŝƐŽĚĞǀĞĚŽƌƉŽƐƐƵĂďĞŶƐŽƵĐƌĞĚŽƌĞƐ͘
ĞǀĞͲƐĞƌĞĐŽůŚĞƌŽƐďĞŶƐƐŝƚƵĂĚŽƐŶŽĞƐƚƌĂŶŐĞŝƌŽĞƚŽĚŽƐŽƐĐƌĞĚŽƌĞƐĚŽĨĂůŝĚŽƐĆŽĂƚƌĂşĚŽƐĂƵŵƐſũƵşǌŽ͘&ŽƌŵĂͲƐĞ͕
ĂƐƐŝŵ͕ƵŵĂ͞ŵĂƐƐĂƵŶŝǀĞƌƐĂůĚĞĨĂůġŶĐŝĂƷŶŝĐĂ͟ƐŽďĂƋƵĂůƵŵƷŶŝĐŽũƵşǌŽĚĞĐŝĚĞĐŽŵďĂƐĞĞŵƵŵĂƐſůĞŝ͘͟d/hZ/K͕
ĂƌŵĞŶ͘ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ͘͘͘Η͕Ɖ͘ϮϬϮ͘
ϮϮ>KWh</͕>ǇŶŶD͕͘ΗŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͗WŽƐƚͲhŶŝǀĞƌƐĂůŝƐƚƉƉƌŽĂĐŚΗ. Cornell Law Review,
s͘ϴϰ͕ϲϵϲ͕ϳϬϭ;ϭϵϵϵͿ͘ŝƐƉŽŶşǀĞůĞŵ͗ŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐƚƌĂĐƚсϭϯϮϰϬϴ. Acesso em 14.03.2016, p. 704.
Ϯϯ^ĂůŝĞŶƚĞͲƐĞƋƵĞ,ĂƌŽůĚ^͘ƵƌŵĂŶĐŚĂŵĂĚĞ͞ĂďŽƌĚĂŐĞŵƵŶŝǀĞƌƐĂůŝƐƚĂ͟;universalist approachͿƵŵƐŝƐƚĞŵĂŵŝƐƚŽ
ĚŽƵŶŝǀĞƌƐĂůŝƐŵŽƉƵƌŽĐŽŵƵŵĂǀĞƌƚĞŶƚĞŵŝƟŐĂĚĂ͕ƋƵĞƐĞƌĄĂďŽƌĚĂĚĂĨƵƚƵƌĂŵĞŶƚĞŶĞƐƚĞƚƌĂďĂůŚŽ͘KĂƵƚŽƌƐĞƵƟůŝǌĂ
ĚĞƚƌĞĐŚŽƐĚĂŽďƌĂĚĞ:ĂǇ>͘tĞƐƚďƌŽŽŬƉĂƌĂĐŽŵƉůĞŵĞŶƚĂƌƐƵĂĚĞĮŶŝĕĆŽ͗͞hŶĚĞƌƚŚĞƵŶŝǀĞƌƐĂůŝƐƚĂƉƉƌŽĂĐŚ͕ŽŶĞ
ĐĞŶƚƌĂůĨŽƌƵŵƌĞƐŽůǀĞƐƚŚĞĮŶĂŶĐŝĂůĚŝĸĐƵůƟĞƐŽĨĂŶĞŶƚĞƌƉƌŝƐĞ͕ŽƌĂƚůĞĂƐƚĐŽŽƌĚŝŶĂƚĞƐĂĐƟŽŶƐŝŶŽƚŚĞƌũƵƌŝƐĚŝĐƟŽŶƐ
ŝŶĂŝĚŽĨŝƚƐĐĞŶƚƌĂůŝǌĞĚĂƉƉƌŽĂĐŚ͘dŚĞƵŶŝǀĞƌƐĂůŝƐƚĂƉƉƌŽĂĐŚƌĞƋƵŝƌĞƐƚŚĂƚĂůůŽƌĂƚůĞĂƐƚƚŚĞƉƌŝŶĐŝƉĂů͞assets and de-
bts of [a distressed] enterprise …ďĞĂĚŵŝŶŝƐƚĞƌĞĚƚŚƌŽƵŐŚŽŶĞĐĞŶƚƌĂůƉƌŽĐĞĞĚŝŶŐŝŶƚŚĞ͚ŚŽŵĞ͛ĐŽƵŶƚƌǇ͕ĂŶĚ΀ƚŚĂƚ΁
ĐŽƵƌƚƐŝŶĂůůŽƚŚĞƌĐŽƵŶƚƌŝĞƐ͙ĂĐƚĂŶĐŝůůĂƌǇƚŽĂŶŝŶĂŝĚŽĨƚŚĞŚŽŵĞĐŽƵŶƚƌǇ͘͟hZDE͕,ĂƌŽůĚ^͘Η,ĂƌŵŽŶŝǌĂƟŽŶ
ŽĨ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ>Ăǁ͗hŶŝƚĞĚ^ƚĂƚĞƐWĞƌƐƉĞĐƟǀĞΗ͘Fordham Law Review͕s͘ϲϰ͕/ƐƐƵĞϲ͕ƌƟĐůĞϰ͕ϭϵϵϲ͕
Ɖ͘Ϯϱϰϵ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬŝƌ͘ůĂǁŶĞƚ͘ĨŽƌĚŚĂŵ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϯϮϳϴΘĐŽŶƚĞǆƚсŇƌх͘ĐĞƐƐŽĞŵ͗
Ϭϯ͘Ϭϱ͘ϮϬϭϲ͖t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘dŚĞŽƌǇĂŶĚWƌĂŐŵĂƟƐŵ/Ŷ'ůŽďĂů/ŶƐŽǀĞŶĐŝĞƐ͗ŚŽŝĐĞKĨ>ĂǁŶĚŚŽŝĐĞ
Of Forum͘ ϲϱ ŵ͘ ĂŶŬƌ͘ >͘ :͘ ϰϱϳ͕ ϭϵϵϭ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘
ũŽƵƌŶĂůƐͬĂŵďĂŶŬϲϱΘĚŝǀсϮϳΘŝĚсΘƉĂŐĞсх͘ĐĞƐƐŽĞŵ͗Ϭϯ͘Ϭϱ͘ϮϬϭϲ͘:ĄŽƵŶŝǀĞƌƐĂůŝƐŵŽĐŽŵƉůĞƚĂŵĞŶƚĞƉƵƌŽĠĚĞ-
ĮŶŝĚŽƉŽƌ,ĂƌŽůĚƵƌŵĂŶŶŽƋƵĞĐŚĂŵĂĚĞ͞ĂďŽƌĚĂŐĞŵĚĂƵŶŝĚĂĚĞ͟;Unity ApproachͿ͗͞dŚŝƐĂƉƉƌŽĂĐŚŚĂƐĂƐŝƚƐ
ŽďũĞĐƟǀĞƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨĂĐŽŵŵŽŶŝŶƐŽůǀĞŶĐǇƌĞŐŝŵĞ͕ǁŚŝĐŚĐĂŶƌĞƐƵůƚŝŶĂƐŝŶŐůĞĂĚŵŝŶŝƐƚƌĂƚŽƌŽĨĂĐƌŽƐƐ-
ͲďŽƌĚĞƌƉƌŽĐĞĞĚŝŶŐ͕ŽƌĂƉƌŝŶĐŝƉĂůĂĚŵŝŶŝƐƚƌĂƚŽƌǁŚŝĐŚĐŽŽƌĚŝŶĂƚĞƐƚŚĞĂĐƟŽŶƐŽĨŽƚŚĞƌĨŽƌƵŵƐ͘hŶĚĞƌƚŚĞƵŶŝƚǇ
ĂƉƉƌŽĂĐŚ͕ƚŚĞĚĞďƚŽƌ͛ƐĂƐƐĞƚƐĂŶĚďƵƐŝŶĞƐƐŝŶƚĞƌĞƐƚƐĂƌĞĂĚŵŝŶŝƐƚĞƌĞĚƵŶĚĞƌƚŚĞƐŝŶŐƵůĂƌƌĞŐŝŵĞ͘͟hZDE͘,ĂƌŽůĚ
^͘Η,ĂƌŵŽŶŝǌĂƟŽŶŽĨ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ>Ăǁ͙Η͕Ɖ͘ϮϱϱϬ͘
Ϯϰ dhE'͕ &ƌĞĚĞƌŝĐŬ͘ Η^ŬĞƉƟĐŝƐŵ ďŽƵƚ hŶŝǀĞƌƐĂůŝƐŵ͗ /ŶƚĞƌŶĂƟŽŶĂů ĂŶŬƌƵƉƚĐǇ ĂŶĚ /ŶƚĞƌŶĂƟŽŶĂů ZĞůĂƟŽŶƐΗ͘

ŵĐŽŵƉůĞŵĞŶƚĂĕĆŽ͕ůĞĐŝŽŶĂ:ŽǌĠ Cândido ^ĂŵƉĂŝŽĚĞ>ĂĐĞƌĚĂ͗
ΗK ƐŝƐƚĞŵĂ ĚĂ ƵŶŝĚĂĚĞ Ğ ĚĂ ƵŶŝǀĞƌƐĂůŝĚĂĚĞ ĚĂ ĨĂůġŶĐŝĂ ƐƵ-
ƉƁĞƋƵĞŽƐĞĨĞŝƚŽƐĚĂĨĂůġŶĐŝĂƐĞĞƐƚĞŶĚĂŵĂƋƵĂůƋƵĞƌƉĂşƐ
ŽŶĚĞĞƐƚĞũĂŵƐŝƚƵĂĚŽƐŽƐďĞŶƐĚŽĚĞǀĞĚŽƌ͕ŽƐƋƵĂŝƐĚĞǀĞŵ
ƐĞƌ ƌĞƵŶŝĚŽƐ ă ŵĂƐƐĂ ĚŽƐ ďĞŶƐ͕ ƋƵĞ ƐĞ ŝŶƐƚĂƵƌŽƵ ŶŽ :ƵşǌŽ
ĚĂĨĂůġŶĐŝĂ͘ƐĨƌŽŶƚĞŝƌĂƐƚĞƌƌŝƚŽƌŝĂŝƐŶĆŽĚŝƐƟŶŐƵĞŵŽƐĐƌĞ-
ĚŽƌĞƐ Ğŵ ĐůĂƐƐĞƐ͘ WĂƌĂ ƋƵĞ ƐĞũĂ ƉŽƐƐşǀĞů Ă ƵŶŝĚĂĚĞ ĚĂ ĨĂ-
ůġŶĐŝĂ Ġ ŵŝƐƚĞƌ͕ ƉŽƌƚĂŶƚŽ͕ Ƶŵ Ɛſ ƚƌŝďƵŶĂů ƉĂƌĂ ĚĞĐůĂƌĄͲůĂ Ğ
ŽƌŐĂŶŝǌĂƌŽƉƌŽĐĞƐƐŽ΀͘͘͘΁͘KŝŶƚĞƌĞƐƐĞŝŶĚŝǀŝĚƵĂůĚŽƐĐƌĞĚŽƌĞƐ
Ġ ƐƵďƐƚŝƚƵşĚŽ ƉĞůŽ ŝŶƚĞƌĞƐƐĞ ĐŽŵƵŵ ĚĞ ƚŽĚŽƐ͕ ƐĞŵ ĐŽŐŝƚĂƌ
ĚŽƐƉĂşƐĞƐĂƋƵĞƉĞƌƚĞŶĕĂŵ;Z>ͿΗ͘25
,ĂƌŽůĚŽsĂůůĂĚĆŽŝŶĨŽƌŵĂƋƵĞ&ƌŝĞĚĞƌŝĐŚĂƌůǀŽŶ^ĂǀŝŐŶǇũĄĚĞĨĞŶ-
ĚŝĂŽƐŝƐƚĞŵĂĞŵƋƵĞƐƚĆŽ͗
Η^s/'Ez ĚĞĨĞŶĚĞƵ Ă ĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞ Ğ Ă ƵŶŝĚĂĚĞ Ğŵ
ƚŽƌŶŽĚĂůĞŝĚŽĚŽŵŝĐşůŝŽĚŽĚĞǀĞĚŽƌĞƌĞƐƉĞĐƟǀŽĨŽƌŽ͕ĞŶĨĂƟ-
ǌĂŶĚŽ͕ĐŽŵďĂƐĞĞĮĐĂǌ͕ĂŝŵƉŽƐƐŝďŝůŝĚĂĚĞĚĞŽƐĐƌĞĚŽƌĞƐĐŽ-
ďƌĂƌĞŵƐĞƵƐĐƌĠĚŝƚŽƐŶŽƵƚƌŽƐĨŽƌŽƐ͕ĐŚĞŐĂŶĚŽĂĂƉůŝĐĂƌ͕ƉĂƌĂ
ƌĞŐƵůĂƌŽĚŝƌĞŝƚŽĚŽƐĐƌĞĚŽƌĞƐ͕ĂůĞŝĚĂĞǆĞĐƵĕĆŽĚŽƉƌŽĐĞƐ-
ƐŽ͕ĚĂƋƵĞůĞƚƌŝďƵŶĂů͕ĂƚĠƉĂƌĂĐƌĠĚŝƚŽƐĐŽŵŐĂƌĂŶƟĂƐƌĞĂŝƐ͕§
ϯϲϰ͕͘dƌĂŶƐƉůĂŶƚĂǀĂƉĂƌĂĂĨĂůġŶĐŝĂŽƉƌŝŶĐşƉŝŽƋƵĞĂĚŽƚĂǀĂ
ƉĂƌĂ Ă ƐƵĐĞƐƐĆŽ͕ ƌŽŵĂŶŽ͕ ĚĂ ͞sucessio per universitatem͕͟
englobando bens ŵſǀĞŝƐĞŝŵſǀĞŝƐƐŽďĂůĞŝĚŽĚŽŵŝĐşůŝŽ͘Η26
KƵƚƌŽĚĞĨĞŶƐŽƌĚŽƐŝƐƚĞŵĂƵŶŝǀĞƌƐĂůŝƐƚĂĨŽŝŶƚŽŶŝŽ^ĂŶĐŚĞǌĚĞƵƐ-
ƚĂŵĂŶƚĞǇ^ŝƌǀĞŶ͕ƋƵĞŽĐŽŶƐŝĚĞƌŽƵĐŽŵŽƵŵĚŽƐƉƌŝŶĐşƉŝŽƐŵĂŝƐƌĞůĞǀĂŶ-
ƚĞƐĚĂŝŶƐŽůǀġŶĐŝĂŝŶƚĞƌŶĂĐŝŽŶĂů͕ĂŝŶĚĂƋƵĞĂĚŵŝƟƐƐĞŵƷůƟƉůĂƐĨĂůġŶĐŝĂƐ
no caso de estabelecimentos comerciais separados, dotados de persona-
ůŝĚĂĚĞƐũƵƌşĚŝĐĂƐĂƵƚƀŶŽŵĂƐ27͘&ŽŝĞƐƐĞĞŶƚĞŶĚŝŵĞŶƚŽƋƵĞƉƌĞǀĂůĞĐĞƵŶŽ
UC Berkeley Law and Economics Working Paper ŶǑ ϮϬϬϭͲϳ͕ Ăďƌŝů ĚĞ ϮϬϬϭ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ ŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐ-
ƚƌĂĐƚсϮϲϳϰϯϳ͘Acesso em 14.03.2016. p. 2.
Ϯϱ>Z͕:ŽǌĠĂŶĚŝĚŽ^ĂŵƉĂŝŽĚĞ͘Manual de Direito Falimentar.ϭϰ͘ĞĚ͘ƌĞǀ͘ĞĂƚƵĂů͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗&ƌĞŝƚĂƐ
ĂƐƚŽƐ͕ϭϵϵϵ͕Ɖ͘ϯϮϴͲϯϮϵ͘
26 VALLADÃO, Haroldo. ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 38.
Ϯϳh^dDEdz^/ZsE͕ŶƚŽŶŝŽ^ĂŶĐŚĞǌĚĞ͘Derecho Internacional Privado ;Ϯ͘Ě͘ϭϵϯϰͿŶǑ͘ϭϴϴϳ͖h^dDE-
dz^/ZsE͕ŶƚŽŶŝŽ^ĂŶĐŚĞǌĚĞ͘Manual de Derecho Internacional Privado;ϭϵϯϵͿŶǑ͘ϮϲϯapudE>DEE͕
<Ƶƌƚ͘ ,͘ &ŽƌĞŝŐŶ ĂŶĚ ŽŵĞƐƟĐ ƌĞĚŝƚŽƌƐ ŝŶ ĂŶŬƌƵƉƚĐǇ WƌŽĐĞĞĚŝŶŐƐ͘ ZĞŵŶĂŶƚƐ ŽĨ ŝƐĐƌŝŵŝŶĂƟŽŶ͍ April, 1943.
ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬƐĐŚŽůĂƌƐŚŝƉ͘ůĂǁ͘ƵƉĞŶŶ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϵϯϭϰΘĐŽŶƚĞǆƚсƉĞŶŶͺůĂǁͺƌĞǀŝĞǁх͕
p. 618͘ĐĞƐƐŽĞŵ͗ϬϮ͘Ϭϱ͘ϮϬϭϲ͘

ſĚŝŐŽƵƐƚĂŵĂŶƚĞ͕ĐŽŶĨŽƌŵĞƐĞǀĞƌĄĂĚŝĂŶƚĞ͘WŽƌŽƌĂ͕ĐŽŶǀĠŵĂƉĞŶĂƐ
ĚĞƐƚĂĐĂƌƋƵĞĂĐŽĚŝĮĐĂĕĆŽƉƌĞǀŝƵ͕ĞǆƉƌĞƐƐĂŵĞŶƚĞ͕ĂůŐƵŶƐĞĨĞŝƚŽƐĞǆƚƌĂƚĞƌ-
ritoriais28, como, v.g.͕ŶŽĐĂƐŽĚĞŝŶĐĂƉĂĐŝĚĂĚĞĚŽĨĂůŝĚŽ;Ăƌƚ͘ϰϭϲͿ29.
EĂ/ŶŐůĂƚĞƌƌĂ͕ĂƵŶŝĚĂĚĞĞƵŶŝǀĞƌƐĂůŝĚĂĚĞĚĂĨĂůġŶĐŝĂĨŽƌĂŵƉŝŽŶĞŝƌĂ-
ŵĞŶƚĞĚĞĨĞŶĚŝĚĂƐĞŵũƵůŐĂĚŽƐƉƌŽĨĞƌŝĚŽƐƉĞůŽƐLordsdŚƵƌůŽǀĞůĚŽŶ͖ŶŽƐ
WĂşƐĞƐĂŝǆŽƐ͕ƌĞĐĞďĞƌĂŵĂƉŽŝŽĚŽƐĐůĄƐƐŝĐŽƐ:ŽƐĞƉŚƵƐ:ŝƩĂĞdŽďŝĂƐƐƐĞƌ͖
ŶĂ&ƌĂŶĕĂ͕ĐĂƟǀĂƌĂŵdƌĂǀĞƌƐ͖Ğ͕ƉŽƌĮŵ͕ĞŵWŽƌƚƵŐĂů͕ĨŽƌĂŵĚĞĨĞŶĚŝĚĂƐƉŽƌ
ƌƚŚƵƌDŽŶƚĞŶĞŐƌŽĞŵŝŵƉŽƌƚĂŶƚĞŽďƌĂĚĂĠƉŽĐĂ;hŶŝĚĂĚĞĞhŶŝǀĞƌƐĂůŝ-
ĚĂĚĞŶĂ&ĂůġŶĐŝĂ͕ϭϴϵϰͿ30͘EĂ/ƚĄůŝĂ͕ƚƌĂǀŽƵͲƐĞŝŶƚĞŶƐŽĚĞďĂƚĞƐŽďƌĞŽƐƐŝƐ-
ƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂ͕ƚĞŶĚŽƉƌĞǀĂůĞĐŝĚŽƉŽƐŝĕĆŽĞŵƉƌŽůĚŽƵŶŝǀĞƌƐĂůŝƐŵŽ͗
ΗĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞĞĂƉůƵƌĂůŝĚĂĚĞĂůŝ;/ƚĄůŝĂͿĚĞĨĞŶĚŝĚĂƉŽƌ
ZKK͕ŝƌ͘ŝǀ͘/ŶƚĞƌŶĂǌ͕͘ϭϴϱϵ͕ĂƉŝƚ͘ϯϭ͕ǀĂŝƐĞƌĚĞƐĂĮĂĚĂ
ƉĞůŽĞŶƚĆŽũŽǀĞŵƉƌŽĨĞƐƐŽƌĚĞEĄƉŽůĞƐPasquale Fiore que,
no seu primeiro livro, Elementos de Dir. Inter., Trieste, ed. de
ϭϴϲϵ͕ƉĄŐƐ͘ϰϳϬĞƐƐ͕͘ƌĞƉƌŽĚƵǌŝĚĂĞŵϭϵϬϬ͕ϱǐƟƌĂƚƵƌĂƐƚĞƌŽ-
ƟƉĂ͕ƉƌĞŐĂƌĄ͞ƵŵĂƚĞŽƌŝĂƉŝƵĠƋƵĂ͕͟ĨŽƌĂĚĂůĞŝƉĞƐƐŽĂů͕ŵĂƐ
ĚĞĐŽƌƌĞŶƚĞ ĚĂ ŶĂƚƵƌĞǌĂ ĚŽ ŝŶƐƟƚƵƚŽ Ă ĞǆŝŐŝƌ ͞>͛ƵŶŝƚă Ğ Ƶďŝ-
ƋƵŝƚă͟ĐŽŵĂƷŶŝĐĂƌĞƐƐĂůǀĂĚŽƐŝŵſǀĞŝƐ͕ƉŽƌƋƵĞ͞ŽĐŽŵĠƌĐŝŽ
Ġ ĐŽƐŵŽƉŽůŝƚĂ͘͟ ĐŽŵƉĂŶŚĂ Ğ ůŽƵǀĂ͕ ĂƐƐŝŵ͕ Ž ƉƌŝŶĐşƉŝŽ ĚĂ
ƵŶŝǀĞƌƐĂůŝĚĂĚĞ ĚŽƐ ĂŶƟŐŽƐ ũƵůŐĂĚŽƐ ŝŶŐůĞƐĞƐ ΀͘͘͘΁͕ ĐŝƚĂŶĚŽ Ğ
ĐƌŝƟĐĂŶĚŽŽƐĚŽƐƐƚĂĚŽƐhŶŝĚŽƐ͕ĂĐĞŝƚŽƐƉŽƌStory. Em 1872
ĂƉĂƌĞĐĞĚĞEĄƉŽůĞƐĚĞCarle, La Dotr. Jurid. Del Fallimento
nel DIP͕ǀĞŶĚŽŶĂĨĂůġŶĐŝĂƵŵĮŵƷŶŝĐŽ͕ĂƉƌŽƚĞĕĆŽĚŽĐƌĠ-
ĚŝƚŽĞƋƵĞƚŽĚŽƐŽƐďĞŶƐĚŽĚĞǀĞĚŽƌƐĆŽĂŐĂƌĂŶƟĂĚĞƚŽĚŽƐ
ŽƐ ĐƌĞĚŽƌĞƐ͕ Ğ Ğŵ ϭϴϳϯ͕ ĚĞ WŝƐĂ͕ Ă ƐĞŐƵŶĚĂ͕ ĚĞ &/KZ͕Del
Fallimento secondo el DIP, ambas em prol da Unidade e Uni-
ǀĞƌƐĂůŝĚĂĚĞĚĂ&ĂůġŶĐŝĂΗ͘31
ϮϴsĞũĂͲƐĞĐŽŶĐĞŝƚŽĚĞĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞĐŽůŚŝĚŽĚĞĐůĄƐƐŝĐĂŽďƌĂĚŽĂƵƚŽƌ͗͞ƐƚŽƐƚĠƌŵŝŶŽƐĞƋƵŝǀĂůĞŶĄĚĞƌĞĐŚŽ
ĞǆƚƌĂͲŶĂĐŝŽŶĂů͕ſĂƉůŝĐĂďůĞĨƵĞƌĂĚĞůƉĂşƐĞŶƋƵĞƐĞƉƌŽŵƵůŐĂ͕ǇƐŝĞƐĐŝĞƌƚŽƋƵĞĂůŐƵŶĂƐĚĞůĂƐƌĞŐůĂƐƉƌŽƉŝĂƐĚĞůĞƌĞĐŚŽ
ŝŶƚĞƌŶĂĐŝŽŶĂůƉƌŝǀĂĚŽ͕ƐĞĞŶĐƵĞŶƚƌĂŶĞŶĞƐĞĐĂƐŽ͕ŶŽůŽĞƐŵĞŶŽƐƋƵĞƚĂůĐĂƌĄĐƚĞƌĞƐƚĄŵƵǇůĞũŽƐĚĞĐŽŶĐƵƌƌŝƌĞŶƚŽĚĂƐ͘
ǆƚƌĂƚĞƌƌŝƚŽƌŝĂůĞƐƐŽŶĚĞƚĞƌŵŝŶĂĚŽƐƉƌĞĐĞƉƚŽƐĚĞĚĞƌĞĐŚŽƉĞŶĂů͕ĄơƚƵůŽŵƵǇĚŝĨĞƌĞŶƚĞĚĞůƋƵĞũƵƐƟĮĐĂůĂĂƉůŝĐĂĐŝſŶ
ĞŶƚŽĚĂƐƉĂƌƚĞƐĚĞůĂƐůĞǇĞƐĐŽŶĐĞƌŶŝĞŶƚĞƐĂůĞƐƚĂĚŽĐŝǀŝůĚĞůĂƐƉĞƌƐŽŶĂƐ͘͟h^dDEdz^/ZsE͕ŶƚŽŶŝŽ^ĂŶĐŚĞǌ
de. Tratado de Derecho Internacional Privado͘dŽŵŽ/͗ΗEŽĐŝŽŶĞƐWƌĞůŝŵŝŶĂƌĞƐ͘,ŝƐƚŽƌŝĂĚĞůĞƌĞĐŚŽWŽƐŝƟǀŽΗ. Historia
ĚĞůĞƌĞĐŚŽŝĞŶơĮĐŽ͘,ĂďĂŶĂ͗/ŵƉƌĞŶƚĂǇWĂƉĞůĞƌŝĂ͞>ĂhŶŝǀĞƌƐĂů͟ĚĞZƵŝǌǇDĞƌŵĂŶŽ͕ϭϴϵϲ͕Ɖ͘Ϯϵ͘ŝƐƉŽŶşǀĞůĞŵ͗
фŚƩƉƐ͗ͬͬĂƌĐŚŝǀĞ͘ŽƌŐͬƐƚƌĞĂŵͬƚƌĂƚĂĚŽĚĞĚĞƌĞĐŚϬϬƐŝƌǀŐŽŽŐηƉĂŐĞͬŶϵͬŵŽĚĞͬϮƵƉх͘ĐĞƐƐŽĞŵ͗Ϭϯ͘Ϭϱ͘ϮϬϭϲ͘
ϮϵſĚŝŐŽƵƐƚĂŵĂŶƚĞ͕Ăƌƚ͘ϰϭϲ͗͞ĚĞĐůĂƌĂĕĆŽĚĞŝŶĐĂƉĂĐŝĚĂĚĞĚŽĨĂůŝĚŽŽƵĐŽŶĐŽƌĚĂƚĄƌŝŽƚĞŵĞĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝ-
ƚŽƌŝĂŝƐŶŽƐƐƚĂĚŽƐĐŽŶƚƌĂƚĂŶƚĞƐ͕ŵĞĚŝĂŶƚĞƉƌĠǀŝŽĐƵŵƉƌŝŵĞŶƚŽĚĂƐĨŽƌŵĂůŝĚĂĚĞƐĚĞƌĞŐŝƐƚƌŽŽƵƉƵďůŝĐĂĕĆŽ͕ƋƵĞĂ
ůĞŐŝƐůĂĕĆŽĚĞĐĂĚĂƵŵĚĞůĞƐĞǆŝũĂ͘͟
31 Ibidem.

ƉƌŽƉŽƐƚĂ ƵŶŝǀĞƌƐĂůŝƐƚĂ͕ ŵĞƐŵŽ ƉŽƌ ƐĞƵƐ ƉƌŽƉŽŶĞŶƚĞƐ͕ Ġ ƌĞĐŽ-
ŶŚĞĐŝĚĂĐŽŵŽĂůŐŽŝĚĞĂůƉŽŝƐĚŝĮĐŝůŵĞŶƚĞĨƵŶĐŝŽŶĂƌŝĂŶĂƐĐŝƌĐƵŶƐƚąŶĐŝĂƐ
factuais do mundo, principalmente em razão dos óbices da noção de so-
berania32. Por outro lado, o universalismo apresenta grandes vantagens.
WƌŝŵĞŝƌĂŵĞŶƚĞ͕ƉŽĚĞͲƐĞĐŝƚĂƌƋƵĞĞůĞŐĂƌĂŶƟƌŝĂŽƚƌĂƚĂŵĞŶƚŽŝŐƵĂůŝƚĄƌŝŽ
entre os credores da massa falimentar, em estrita observância ao prin-
ĐşƉŝŽƉĂƌĐŽŶĚŝƟŽĐƌĞĚŝƚŽƌƵŵ. Para Carmen Tiburcio, a própria noção de
ŵĂƐƐĂĨĂůŝŵĞŶƚĂƌĠĐŽŶƚƌĄƌŝĂăĨƌĂŐŵĞŶƚĂĕĆŽ͕ǀŝƐƚŽƋƵĞŽƐďĞŶƐĚŽĚĞǀĞ-
ĚŽƌĐŽŶƐƟƚƵĞŵĂŐĂƌĂŶƟĂĐŽŵƵŵĚŽƐĐƌĞĚŽƌĞƐ͘ĞƐƐĞŵŽĚŽ͕ĂĮŶĂůŝĚĂĚĞ
ĚŽ ƉƌŽĐĞƐƐŽ ĐŽŶĐƵƌƐĂů Ġ ƚŽƌŶĂƌ Ă ŝŶƐŽůǀĂďŝůŝĚĂĚĞ ĚŽ ĚĞǀĞĚŽƌ ĐŽŵƵŵ Ă
todos os seus credores.33
KƵƚƌĂǀĂŶƚĂŐĞŵĚŽƐŝƐƚĞŵĂƵŶŝǀĞƌƐĂůŝƐƚĂĠĂƐƐĞŐƵƌĂƌŵĂŝŽƌƐĞŐƵ-
ƌĂŶĕĂũƵƌşĚŝĐĂĂŽƐĞŶǀŽůǀŝĚŽƐ͘/ƐƐŽƉŽƌƋƵĞ͕ĐŽŵŽĂĂĚŵŝŶŝƐƚƌĂĕĆŽƚŽƚĂůĚŽƐ
ďĞŶƐ ĚŽ ĚĞǀĞĚŽƌ ƐĞƌĄ ƌĞƐĞƌǀĂĚĂ Ă Ƶŵ ƷŶŝĐŽ ũƵşǌŽ ƵŶŝǀĞƌƐĂů͕ Ž ƌŝƐĐŽ ĚĞ
ĚĞĐŝƐƁĞƐĐŽŶŇŝƚĂŶƚĞƐĚŝŵŝŶƵŝĚƌĂƐƟĐĂŵĞŶƚĞ͘ĚŽƵƚƌŝŶĂĐŽƐƚƵŵĂ͕ĂŝŶĚĂ͕
apontar outros elementos em defesa dessa vertente, como, v.g., o fato de
ƉƌŽŵŽǀĞƌ͞ĂƌĞĚƵĕĆŽĚŽƐĐƵƐƚŽƐ;ƉŽƌŚĂǀĞƌƵŵƷŶŝĐŽƉƌŽĐĞƐƐŽĚĞŝŶƐŽů-
ǀġŶĐŝĂͿ͕ĂŵĂǆŝŵŝǌĂĕĆŽĚŽƐƌĞƐƵůƚĂĚŽƐ;ĚĞǀŝĚŽăĂĚŵŝŶŝƐƚƌĂĕĆŽĐĞŶƚƌĂůŝǌĂ-
ĚĂĚŽƉƌŽĐĞƐƐŽͿĞĂƉƌĞǀŝƐŝďŝůŝĚĂĚĞĚŽƐƌĞƐƵůƚĂĚŽƐ͘͟34
:ĂǇ>ĂǁƌĞŶĐĞtĞƐƚďƌŽŽŬĂƉŽŶƚĂĂŝŵƉŽƌƚąŶĐŝĂĚĞƵŵƷŶŝĐŽƉƌŽĐĞ-
ĚŝŵĞŶƚŽĞƵŵĂƷŶŝĐĂůĞŝĐŽŵŽŵĞĚŝĚĂŝŵƉƌĞƐĐŝŶĚşǀĞůƉĂƌĂŽƐƵĐĞƐƐŽĚĞ
um processo falimentar35͗
ΗdǁŽ ŽĨ ƚŚĞ ƉƌŝŵĂƌǇ ĨƵŶĐƟŽŶƐ ŽĨ ůŝƋƵŝĚĂƟŽŶ ďĂŶŬƌƵƉƚĐǇ ĂƌĞ
ƚŽŵĂǆŝŵŝǌĞĂƐƐĞƚǀĂůƵĞĂŶĚƚŽĚŝƐƚƌŝďƵƚĞƉƌŽĐĞĞĚƐĂĐĐŽƌĚŝŶŐ
ƚŽĂƐĐŚĞŵĞŽĨƉƌŝŽƌŝƚǇďĂƐĞĚŽŶůĞŐĂůƌŝŐŚƚƐ͘dŚĞƉƌŽĐĞƐƐĐĂŶ-
ŶŽƚŵĂǆŝŵŝǌĞƚŚĞǀĂůƵĞŽĨĂĚĞďƚŽƌ͛ƐĂƐƐĞƚƐƵŶůĞƐƐƚŚĞƌĞŝƐĂ
moratorium or stay to prevent individual creditor seizures and
ĂƵŶŝĮĞĚĂƉƉƌŽĂĐŚƚŽĂƐƐĞŵďůŝŶŐĂŶĚƐĞůůŝŶŐƚŚŽƐĞĂƐƐĞƚƐ͘^ŝ-
ϯϮ</WE/^͕ůĞǆĂŶĚĞƌD͘ΗĞǇŽŶĚhE/dZ>͙Η, p. 28.
ϯϯd/hZ/K͕ĂƌŵĞŶ͘ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ͘͘Η͕͘Ɖ͘ϮϬϮ͘
ϯϰDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϲ͘
ϯϱ:ĂǇtĞƐƚďƌŽŽŬĐŚĞŐĂĂĂůŐƵŵĂƐĐŽŶĐůƵƐƁĞƐƐŽďƌĞŽƐƉƌŽƉſƐŝƚŽƐĚĂĨĂůġŶĐŝĂ͕ĂƉſƐĂŶĂůŝƐĂƌƐĞƵĐŽŶĐĞŝƚŽĞŶĂƚƵƌĞ-
ǌĂ͘/ŶƚĞƌĞƐƐĂŽďƐĞƌǀĂƌƋƵĞŽĂƵƚŽƌƐĞƵƟůŝǌĂĚĞĂůŐƵŶƐĐŽŶĐĞŝƚŽƐĚĂĚŽƵƚƌŝŶĂdŚŽŵĂƐ,͘:ĂĐŬƐŽŶ͘WĂƌĂĞƐƐĞƷůƟŵŽĂƵ-
ƚŽƌ͕ƚƌĂĕŽĨƵŶĚĂŵĞŶƚĂůĚĂĨĂůġŶĐŝĂĠŽĨĂƚŽĚĞƐĞƌƵŵƉƌŽĐĞĚŝŵĞŶƚŽĐŽůĞƟǀŽƋƵĞǀŝƐĂƉƌŽƚĞŐĞƌŽƐĐƌĞĚŽƌĞƐĚĞĂĕƁĞƐ
ŝŶĚŝǀŝĚƵĂŝƐ͗͞ĂŶŬƌƵƉƚĐǇƉƌŽǀŝĚĞƐĂĐŽůůĞĐƟǀĞĨŽƌƵŵĨŽƌƐŽƌƟŶŐŽƵƚƚŚĞƌŝŐŚƚƐŽĨ͞ŽǁŶĞƌƐ͟;ĐƌĞĚŝƚŽƌƐĂŶĚŽƚŚĞƌƐǁŝƚŚ
ƌŝŐŚƚƐĂŐĂŝŶƐƚĂĚĞďƚŽƌ͛ƐĂƐƐĞƚƐͿ͕ĂŶĚĐĂŶďĞũƵƐƟĮĞĚ͕ĂƐǁĞŚĂǀĞƐĞĞŶ͕ŝŶƉƌŽǀŝĚŝŶŐƉƌŽƚĞĐƟŽŶƐĂŐĂŝŶƐƚƚŚĞĚĞƐƚƌƵĐ-
ƟǀĞĞīĞĐƚƐŽĨĂŶŝŶĚŝǀŝĚƵĂůƌĞŵĞĚŝĞƐƐǇƐƚĞŵǁŚĞŶƚŚĞƌĞĂƌĞŶŽƚĞŶŽƵŐŚĂƐƐĞƚƐƚŽŐŽĂƌŽƵŶĚ͘͟In͗:<^KE͕dŚŽŵĂƐ
,͘ΗdŚĞ>ŽŐŝĐĂŶĚ>ŝŵŝƚƐŽĨĂŶŬƌƵƉƚĐǇ>Ăǁ͗/ŵƉůŝĐĂƟŽŶƐŽĨŽůůĞĐƟǀĞĐƟŽŶĂŶĚŝƐĐŚĂƌŐĞWŽůŝĐŝĞƐ͘ŝƐĐƵƐƐŝŽŶWĂ-
ƉĞƌΗŶǑ͘ϭϲ͕ϭϮͬϴϱ͕,ĂƌǀĂƌĚ>Ăǁ^ĐŚŽŽů͕ϭϵϴϲ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬǁǁǁ͘ůĂǁ͘ŚĂƌǀĂƌĚ͘ĞĚƵͬƉƌŽŐƌĂŵƐͬŽůŝŶͺĐĞŶƚĞƌͬ
ƉĂƉĞƌƐͬƉĚĨͬ:ĂĐŬƐŽŶͺϭϲ͘ƉĚĨх. Acesso em 03.05.2016.

ŵŝůĂƌůǇ͕ŶĞŝƚŚĞƌƉƌŝŶĐŝƉůĞƐŽĨĞƋƵĂůŝƚǇŶŽƌĂƐĞƚŽĨůĞŐĂůƉƌŝŽƌŝ-
ƟĞƐĐĂŶŚĂǀĞƚŚĞŝƌĚĞƐŝƌĞĚĞīĞĐƚƵŶůĞƐƐƚŚĞǇĂƌĞŝŵƉůŝĞĚŝŶĂ
ĐŽŵŵŽŶĚŝƐƚƌŝďƵƟŽŶ͘^ƵĐŚĂĐŽůůĞĐƟǀĞƐǇƐƚĞŵĐĂŶŶŽƚŽƉĞƌĂƚĞ
ƵŶůĞƐƐ͗ŝͿƚŚĞĂƐƐĞƚƐŽĨĂĚĞďƚŽƌĂƌĞƉĂƌƚŽĨĂĐŽŵŵŽŶƉŽŽůĨŽƌ
ƚŚĞ ďĞŶĞĮƚ ŽĨ ƐƚĂŬĞŚŽůĚĞƌƐ ĂŶĚ ŝŝͿ ƚŚĞ ƌŝŐŚƚƐ ŽĨ Ăůů ƉŽƚĞŶƟĂů
ƐƚĂŬĞŚŽůĚĞƌƐ ĂƌĞ ĮŶĂůůǇ ƌĞƐŽůǀĞĚ ƉƌŝŽƌ ƚŽ Ă ĮŶĂů ĚŝƐƚƌŝďƵƟŽŶ͘
KŶůǇĂƐŝŶŐůĞƐǇƐƚĞŵŽƉĞƌĂƟŶŐƵŶĚĞƌĂƐŝŶŐůĞƐĞƚŽĨŽǀĞƌĂůůƌƵ-
ůĞƐĐĂŶĂĐŚŝĞǀĞƚŚŽƐĞƵŶŝĮĞĚƌĞƐƵůƚƐ͘ƐŝŶŐůĞƐǇƐƚĞŵĐĂŶŶŽƚ
ďĞůĞŐĂůůǇĞīĞĐƟǀĞƵŶůĞƐƐŝƚĐŽŶƚƌŽůƐĂƐƐĞƚƐĂŶĚďŝŶĚƐƐƚĂŬĞŚŽů-
ĚĞƌƐƚŚƌŽƵŐŚŽƵƚƚŚĞŵĂƌŬĞƚ͘Η36
A situação não se altera quando analisada no âmbito transnacional. A

ĞǆŝƐƚġŶĐŝĂĚĞďĂƌƌĞŝƌĂƐĐŽŵŽĂƐĨƌŽŶƚĞŝƌĂƐŶĂĐŝŽŶĂŝƐ͕ĂƉŽƐƐŝďŝůŝĚĂĚĞĚĞƵŵ
ĚŽƐ ĐƌĞĚŽƌĞƐ ŝŶŐƌĞƐƐĂƌ Ğŵ ŵĂŝƐ ĚĞ Ƶŵ ƉƌŽĐĞƐƐŽ ĨĂůŝŵĞŶƚĂƌ ĂƵƚƀŶŽŵŽ͕ Ă
aplicação de uma pluralidade de leis, dentre outros, são elementos que cer-
ƚĂŵĞŶƚĞĨƌƵƐƚƌĂƌŝĂŵŽƐĮŶƐǀŝƐĂĚŽƐĞŵƵŵĂĨĂůġŶĐŝĂ͘ŝŵƉƌĞƐĐŝŶĚŝďŝůŝĚĂĚĞ
ĚĞƐƐĂƵŶŝĚĂĚĞŐĂŶŚĂĂŝŶĚĂŵĂŝƐƌĞůĞǀŽƋƵĂŶĚŽĂŶĂůŝƐĂĚĂƐŽďŽƉƌŝƐŵĂĚĂ
ƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͘ŽŵŽƐĞƐĂďĞ͕ĂƌĞĂůŝĚĂĚĞĞŵƉƌĞƐĂƌŝĂůŶĆŽĐŽŵƉŽƌƚĂ
ĂďƵƌŽĐƌĂĐŝĂĞǆĂĐĞƌďĂĚĂĚŽƐƚĂĚŽ͘ŵƵŵƉƌŽĐĞƐƐŽƋƵĞďƵƐĐĂĂƌĞƐƚƌƵ-
turação de determinado conglomerado empresarial, vantagens como par
ĐŽŶĚŝƟŽĐƌĞĚŝƚŽƌƵŵ e previsibilidade das decisões podem ser consideradas
ĐŽŵŽĂƉĞĕĂͲĐŚĂǀĞƉĂƌĂŽƐƵĐĞƐƐŽĚŽĐĂƐŽ͘WĂƌĂĐŽŵƉƌŽǀĂƌĞƐƐĂĂƐƐĞƌƟǀĂ͕
ŵŝƐƚĞƌƋƵĞƐĞŝŶǀŽƋƵĞŶŽǀĂŵĞŶƚĞůŝĕĆŽĚŽƐƵƉƌĂĐŝƚĂĚŽĂƵƚŽƌ͗
ΗZĞŽƌŐĂŶŝǌĂƟŽŶďĂŶŬƌƵƉƚĐǇ;ŽŌĞŶĐĂůůĞĚ͞ƌĞƐĐƵĞ͟ĞůƐĞǁŚĞ-
ƌĞͿŝƐĞǀĞŶŵŽƌĞĚĞƉĞŶĚĞŶƚƵƉŽŶ ƚŚĞĞǆŝƐƚĞŶĐĞŽĨĂƐŝŶŐůĞ
ƌĞŽƌŐĂŶŝǌĂƟŽŶĂĐƟǀŝƚǇ͘ůƚŚŽƵŐŚƐŽŵĞĚĞďƚŽƌƐ͕ŽƌĐŽƌƉŽƌĂ-
te groups, may split neatly into separate pieces to be sold
Žƌ ĐŽŶƟŶƵĞĚ ŝŶĚŝǀŝĚƵĂůŝƚǇ͕ ŵŽƐƚ ĂƌĞ ĐŽŵƉůĞǆůǇ ƐƚƌƵĐƚƵƌĞĚ͕
ŵĂŬŝŶŐŝƚǀĞƌǇĚŝĸĐƵůƚƚŽĐŽŶƟŶƵĞƚŚĞĞŶƚĞƌƉƌŝƐĞǁŝƚŚŽƵƚĂ
ƐƵďƐƚĂŶƟĂůůǇĐĞŶƚƌĂůŝǌĞƐĚŝƌĞĐƟŽŶ͘ZĞŽƌŐĂŶŝǌŝŶŐĂĐŽŵƉĂŶǇŝƐ
ƐƵƌŐĞƌǇ ƵƉŽŶ Ă ůŝǀŝŶŐ ďĞŝŶŐ͕ ĂƐ ŽƉƉŽƐĞĚ ƚŽ ƚŚĞ ĚŝƐƉŽƐĂů ŽĨ
ŽŶĞƚŚĂƚŚĂƐĞǆƉŝƌĞĚ͘Η37
Tal importância pode ser facilmente vislumbrada em uma situação

ŚŝƉŽƚĠƟĐĂĞŵƋƵĞƐŽĐŝĞĚĂĚĞĞŵƉƌĞƐĂƌŝĂů͕ĐŽŶƐƟƚƵşĚĂŶŽƌĂƐŝůĞĂƋƵŝĚĞ-
ϯϲt^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘'ůŽďĂů^ŽůƵƟŽŶƚŽDƵůƟŶĂƟŽŶĂůĞĨĂƵůƚ͘DŝĐŚŝŐĂŶ>ĂǁZĞǀŝĞǁ͕ǀŽů͘ϵϴ͕ũƵŶŚŽĚĞ
ϮϬϬϬ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϮϱϵϵϲϬх. Acesso em 17.03.2016, p. 2283.
37 Idem, p. 2284.

ƚĞŶĚŽƐƵĂƐĞĚĞƐŽĐŝĂůĞĨĞƟǀĂ͕ƉŽƐƐƵŝĮůŝĂůŝŶƐƚĂůĂĚĂĞŵDŽĕĂŵďŝƋƵĞ͘^Ğ
ŽƐĐƌĞĚŽƌĞƐĚĂĮůŝĂůĂĨƌŝĐĂŶĂƉƵĚĞƌĞŵůŝǀƌĞŵĞŶƚĞĞǆŝŐŝƌƐĞƵƐĐƌĠĚŝƚŽƐƐĞŵ
ƐƵďŵĞƚġͲůŽƐĂŽƉůĂŶŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĂƉƌŽǀĂĚŽƉĞůĂ:ƵƐƟĕĂďƌĂ-
ƐŝůĞŝƌĂ͕ĂƐĐŚĂŶĐĞƐĚĞĨƌĂĐĂƐƐŽĚĂƌĞŽƌŐĂŶŝǌĂĕĆŽĞĐŽŶƀŵŝĐĂĚĂƐŽĐŝĞĚĂĚĞ
aumentam consideravelmente. Em razão desses argumentos analisados,
ĐŽŶĐůƵŝ:ĂǇtĞƐƚďƌŽŽŬ͗
ΗĞĐĂƵƐĞ ďĂŶŬƌƵƉƚĐǇ ŝƐ Ă ŵĂƌŬĞƚͲƐǇŵŵĞƚƌŝĐĂů ůĂǁ͕ Ă ŐůŽďĂů
ŵĂƌŬĞƚƌĞƋƵŝƌĞƐĂŐůŽďĂůďĂŶŬƌƵƉƚĐǇůĂǁ͘ŐůŽďĂůĚĞĨĂƵůƚͲƚŚĂƚ
ŝƐ͕ƚŚĞŐĞŶĞƌĂůĚĞĨĂƵůƚŽĨĂŵƵůƟŶĂƟŽŶĂůĐŽŵƉĂŶǇͶƌĞƋƵŝƌĞƐ
ĂƐŝŶŐůĞďĂŶŬƌƵƉƚĐǇƉƌŽĐĞĞĚŝŶŐƚŚĂƚĐĂŶĂƉƉůǇƌƵůĞƐĂŶĚƌĞĂ-
ĐŚƌĞƐƵůƚƐƚŚĂƚĂƌĞĐŽŶĐůƵƐŝǀĞǁŝƚŚƌĞƐƉĞĐƚƚŽĂůůƐƚĂŬĞŚŽůĚĞƌƐ
ƚŚƌŽƵŐŚŽƵƚƚŚĞŐůŽďĂůŵĂƌŬĞƚ͘ŶǇƚŚŝŶŐƐŚŽƌƚŽĨƚŚĂƚƉƌŽĐĞ-
ĚƵƌĞŝƐ͕ĂƚďĞƐƚ͕ĂƚĞŵƉŽƌĂƌǇĂĐĐŽŵŵŽĚĂƟŽŶƚŚĂƚĂǁĂŝƚƐƚŚĞ
ƉŽůŝƟĐĂůǁŝůůƚŽĂĐŚŝĞǀĞƚŚĞƉƌŽƉĞƌůĞŐĂůƌĞƐƵůƚΗ͘38
HĄŽƵƚƌĂŝŵƉŽƌƚĂŶƚĞǀĂŶƚĂŐĞŵĚŽƵŶŝǀĞƌƐĂůŝƐŵŽ͘YƵĂŶĚŽĞƐƚĄƉƌĞ-
ƐĞŶƚĞƵŵĂƉůƵƌĂůŝĚĂĚĞĚĞƉƌŽĐĞĚŝŵĞŶƚŽƐĚĞŝŶƐŽůǀġŶĐŝĂĞůĞŝƐƉŽƚĞŶĐŝĂů-
ŵĞŶƚĞ ĂƉůŝĐĄǀĞŝƐ͕ ĂƐ ƌĞŐƌĂƐ ĚĞ ĐŽŶĞǆĆŽ͕ ŐĞƌĂůŵĞŶƚĞ ŝŵƉƌĞǀŝƐşǀĞŝƐ Ğ ĚŝƐ-
ƟŶƚĂƐƉĂƌĂĐĂĚĂƉĂşƐ͕ďĞŵĐŽŵŽĞǀĞŶƚƵĂůĐŽŶŇŝƚŽĚĞũƵƌŝƐĚŝĕƁĞƐ͕ŐĞƌĂŵ
ĚŝĮĐƵůĚĂĚĞƐƉĂƌĂĂůŝƋƵŝĚĂĕĆŽŽƵƌĞŽƌŐĂŶŝǌĂĕĆŽĚĂĂƟǀŝĚĂĚĞĚŽĚĞǀĞĚŽƌ͘
ŶĞƐƐĞƐĞŶƟĚŽƋƵĞ:ĂǇ>ĂǁƌĞŶĐĞtĞƐƚďƌŽŽŬƐƵƐƚĞŶƚĂƋƵĞŽƵŶŝǀĞƌƐĂůŝƐ-
ŵŽŝŵƉĞĚĞŽƉƌŽďůĞŵĂĚĂƐƌĞŐƌĂƐĚĞĐŽŶĞǆĆŽ39͘ĂƐĞĂŶĚŽͲƐĞĞŵůŝĕĆŽĚŽ
ƉƌŽĨĞƐƐŽƌŝŶŐůġƐ/ĂŶ&ůĞƚĐŚĞƌ40͕ŽĂƵƚŽƌĂĚƵǌƋƵĞƚĂŵďĠŵĞǀŝƚĂŽƐſďŝĐĞƐ
ĚĞĐŽƌƌĞŶƚĞƐĚĂƐƌĞŐƌĂƐĚĞĐŽŵƉĞƚġŶĐŝĂ͘
,ĄƋƵĞƐĞƌĞŐŝƐƚĂƌ͕ĐŽŶƚƵĚŽ͕ĨŽƌƚĞĐƌşƟĐĂĂŽƵŶŝǀĞƌƐĂůŝƐŵŽ͕ďĂƐĞĂĚĂ
ŶĂƉŽƐŝĕĆŽĚĞ&ƌĞĚĞƌŝĐŬdƵŶŐ͕ƋƵĞƐĞƵƟůŝǌĂĚĂdĞŽƌŝĂĚŽƐ:ŽŐŽƐƉĂƌĂĚĞ-
ŵŽŶƐƚƌĂƌĂŝŵƉŽƐƐŝďŝůŝĚĂĚĞĨĄƟĐĂĚĞĂĚŽĕĆŽĚĞƐƐĞƐŝƐƚĞŵĂ͘sĞũĂͲƐĞ͗Ğŵ
ƵŵĂ ƐŝƚƵĂĕĆŽ ŚŝƉŽƚĠƟĐĂ ŶĂ ƋƵĂů ƐĞ ĂƐƐƵŵĂ ƐĞƌ Ž ŵƵŶĚŽ ĐŽŵƉŽƐƚŽ ƚĆŽ
ƐŽŵĞŶƚĞƉŽƌĚŽŝƐƐƚĂĚŽƐ͕Ğ͕ǀŝƐůƵŵďƌĂͲƐĞŽƐĞŐƵŝŶƚĞƋƵĂĚƌŽĚĞĞƐ-
ĐŽůŚĂƐƉŽƐƐşǀĞŝƐ͗ƐƚĂĚŽŽƉƚĂŶĚŽƉĞůŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĞƐƚĂĚŽ͕ƉĞůŽ
ƵŶŝǀĞƌƐĂůŝƐŵŽ;ŽƉĕĆŽϭͿ͖ƐƚĂĚŽŽƉƚĂŶĚŽƉĞůŽƵŶŝǀĞƌƐĂůŝƐŵŽĞƐƚĂĚŽ͕
ƉĞůŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ;ŽƉĕĆŽϮͿ͖ƐƚĂĚŽƐĞŽƉƚĂŶĚŽƉĞůŽƵŶŝǀĞƌƐĂůŝƐŵŽ
;ŽƉĕĆŽϯͿ͖ĞƐƚĂĚŽƐĞŽƉƚĂŶĚŽƉĞůŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ;ŽƉĕĆŽϰͿ͘EĂǀŝƐĆŽ
38 Idem, p. 2288.
39 Idem, p. 2292.
ϰϬ&>d,Z͕/ĂŶ&͘/ŶƐŽůǀĞŶĐǇŝŶWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>ĂǁϭϬ;ϭϵϵϵͿ͕Ăƚϳϳϭapud t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘A Glo-
ďĂů^ŽůƵƟŽŶ͙͕Ɖ͘ϮϮϵϮ͘WĂƌĂŽƵƚƌŽƚƌĂďĂůŚŽĚĞ/ĂŶ&͘&ůĞƚĐŚĞƌƐŽďƌĞŽƚĞŵĂĚĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ĐŽŶƐƵůƚĞ͗&>-
d,Z͕/ĂŶ&͘ƌŽƐƐͲŽƌĚĞƌ/ŶƐŽůǀĞŶĐǇ͗ŽŵƉĂƌĂƟǀĞŝŵĞŶƐŝŽŶƐ͕ϭϮhŶŝƚĞĚ<ŝŶŐĚŽŵŽŵƉĂƌĂƟǀĞ>Ăǁ^ĞƌŝĞƐ͕ϭϵϬϬ͘

do citado professor, cadĂƐƚĂĚŽƉŽƐƐƵŝŶĂƚƵƌĂůƉƌĞĨĞƌġŶĐŝĂƉĞůĂĂƉůŝĐĂĕĆŽ
ĚĞƐƵĂƐƉƌſƉƌŝĂƐůĞŝƐĂƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂƌĞƐ͕ŚĂũĂǀŝƐƚĂƋƵĞŶĞůĞƐƐĞĚŝƐ-
ĐƵƚĞŵĚŝǀĞƌƐŽƐĂƐƐƵŶƚŽƐƐĞŶƐşǀĞŝƐăƐƉŽůşƟĐĂƐůŽĐĂŝƐ͘
ŽƐĞĂƉůŝĐĂƌĞƐƐĂƉƌĞĨĞƌġŶĐŝĂĚŽƐƐƚĂĚŽƐŶŽƋƵĂĚƌŽĚĞĞƐĐŽůŚĂƐ
ĂƉƌĞƐĞŶƚĂĚŽ͕ǀġͲƐĞ͕ŝŶŝĐŝĂůŵĞŶƚĞ͕ƋƵĞĂŽƉĕĆŽϭƐĞƌŝĂĂŵĞůŚŽƌĚŽƉŽŶ-
ƚŽ ĚĞ ǀŝƐƚĂ ĚŽ ƐƚĂĚŽ ͘ /ƐƐŽ ƉŽƌƋƵĞ͕ ŶĂƐ ĨĂůġŶĐŝĂƐ Ğŵ ĐƵƌƐŽ ĚĞŶƚƌŽ ĚĞ
ƐĞƵ ƚĞƌƌŝƚſƌŝŽ͕ ƐĞƌŝĂ ĂƉůŝĐĂĚĂ ƐƵĂ ƉƌſƉƌŝĂ ůĞŝ ;ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽͿ͕ ŚĂǀĞŶĚŽ͕
ĂŝŶĚĂ͕ƉŽƐƐŝďŝůŝĚĂĚĞĚĞĂƉůŝĐĂĕĆŽĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂůĚĂŶŽƌŵĂŶŽƐƉƌŽĐĞƐƐŽƐ
ĨĂůŝŵĞŶƚĂƌĞƐĚŽƐƚĂĚŽ;ƵŶŝǀĞƌƐĂůŝƐŵŽͿ͘ŽŵŽŽƐƚĂĚŽĚŝŵŝŶƵŝƌŝĂĂ
ƉŽƐƐŝďŝůŝĚĂĚĞĚĞĂƉůŝĐĂĕĆŽĚĂƉƌſƉƌŝĂůĞŝŶĞƐƐĂŚŝƉſƚĞƐĞ͕ĞĂŽƉĕĆŽϭƐĞƌŝĂ
ĂƉŝŽƌƐŽďƐĞƵƉŽŶƚŽĚĞǀŝƐƚĂ͘ŽƉĕĆŽϮ͕ƉŽƌƐƵĂǀĞǌ͕ĐŽŶƐƟƚƵŝŚŝƉſƚĞƐĞŝŶ-
ǀĞƌƐĂ͕ƐĞŶĚŽ͕ƉŽƌƚĂŶƚŽ͕ĂŵĞůŚŽƌƉĂƌĂŽƐƚĂĚŽĞĂƉŝŽƌƉĂƌĂŽƐƚĂĚŽ͘
ƐƐŝŵ͕ǀġͲƐĞƋƵĞĂƐŽůƵĕĆŽŝĚĞĂůƉĂƌĂŽƐƚĂĚŽĠĂŵĂŝƐŝŶĚĞƐĞũĂĚĂƉĂƌĂ
ŽƐƚĂĚŽĞǀŝĐĞͲǀĞƌƐĂ͘,Ą͕ƉŽƌĮŵ͕ĚƵĂƐƐŝƚƵĂĕƁĞƐŝŶƚĞƌŵĞĚŝĄƌŝĂƐƉĂƌĂ
ambos os Estados, que seria a adoção concomitante ou do universalismo
ou do territorialismo41.
ŽŶƐŝĚĞƌĂŶĚŽƋƵĞĂŵĞůŚŽƌƐŽůƵĕĆŽŝŶƚĞƌŵĞĚŝĄƌŝĂƐĞƌŝĂĂĂĚŽĕĆŽ
concomitante do universalismo pelos Estados, uma vez que assim permi-
ƟƌŝĂŵĂĐŽŽƉĞƌĂĕĆŽĞŵƉƌŽůĚŽƐĐƌĞĚŽƌĞƐ͕ŽĨĂƚŽĚĞŶĆŽŚĂǀĞƌĐĞƌƚĞǌĂĚĞ
que o outro Estado adotaria esse sistema faz com que a decisão mais ra-
ĐŝŽŶĂůƐĞũĂĂĂĚŽĕĆŽĐŽŶĐŽŵŝƚĂŶƚĞĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ĚĞŵŽĚŽƋƵĞĂŵďŽƐ
ƐĞƉƌŽƚĞŐĞŵĚĂƉŝŽƌƐŝƚƵĂĕĆŽƉĂƌĂĐĂĚĂƵŵ͘>ĞǀĂŶĚŽĞƐƐĂĂŶĄůŝƐĞƉĂƌĂŽ
ŵƵŶĚŽƌĞĂů͕ĐŽŵƉŽƐƚŽƉĞůŽƐŵĂŝƐĚŝǀĞƌƐŽƐƉĂşƐĞƐ͕ĂĂĚŽĕĆŽĚŽƵŶŝǀĞƌƐĂ-
ůŝƐŵŽƐĞŵŽƐƚƌĂƌŝĂĂŝŶĚĂŵĂŝƐĚŝĮĐƵůƚŽƐĂ͘ĚĞŵĂŝƐ͕ĐŽŶƐŝĚĞƌĂŶĚŽƋƵĞŽ
ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůĐĂƌĞĐĞĚĞŵĞĚŝĚĂƐĐŽĞƌĐŝƟǀĂƐĞĨĞƟǀĂƐƉĂƌĂŐĂƌĂŶƟƌ
ŽƐĐŽŵƉƌŽŵŝƐƐŽƐĂƐƐƵŵŝĚŽƐƉĞůŽƐƉĂşƐĞƐ͕ŵĞƐŵŽŶĂŚŝƉſƚĞƐĞĚĞĐĞůĞďƌĂ-
ĕĆŽĚĞŝŶƐƚƌƵŵĞŶƚŽƐŝŶƚĞƌŶĂĐŝŽŶĂŝƐ͕ĂĂĚŽĕĆŽĚŽƐŝƐƚĞŵĂƚĞƌƌŝƚŽƌŝĂůŝƐƚĂ;Ğ
ĐŽŶƐĞƋƵĞŶƚĞŶĞŐĂĕĆŽĂŽƵŶŝǀĞƌƐĂůŝƐŵŽͿĂŝŶĚĂƉĞƌŵĂŶĞĐĞƌŝĂƐĞŶĚŽƌĂĐŝŽ-
ŶĂůŵĞŶƚĞĂĞƐĐŽůŚĂŵĂŝƐƐĞŐƵƌĂƉĂƌĂŽƐƐƚĂĚŽƐ͗
Η/ŶƚŚĞŝŶƚĞƌŶĂƟŽŶĂůĐŽŶƚĞǆƚ͕ƚŚĞĚŝůĞŵŵĂĂƌŝƐĞƐďĞĐĂƵƐĞƐƚĂ-
ƚĞƐ͛ ƉƌŽŵŝƐĞƐ ŵĂǇ ŶŽƚ ďĞ ĐƌĞĚŝďůĞ͘ ŵŽŶŐ ƐŽǀĞƌĞŝŐŶ ƐƚĂƚĞƐ͕
ŶŽ ƵůƟŵĂƚĞ ŝŶƚĞƌŶĂƟŽŶĂů ĂƵƚŚŽƌŝƚǇ ĞǆŝƐƚƐ ƚŽ ĞŶĨŽƌĐĞ ƐƚĂƚĞƐ͛
ƉƌŽŵŝƐĞƐ͘EŽƐƵƉƌĂŶĂƟŽŶĂůƐŽǀĞƌĞŝŐŶĞǆŝƐƚƐƚŽĨŽƌĐĞƐƚĂƚĞƐƚŽ
ĂďŝĚĞďǇƚŚĞŝƌĐŽŵŵŝƚŵĞŶƚƐ͘tŝƚŚŽƵƚƐƵĐŚĂĐĞŶƚƌĂůĂƵƚŚŽƌŝƚǇ͕
ƐƚĂƚĞƐĐĂŶŶŽƚŐƵĂƌĂŶƚǇĨƵƚƵƌĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞŝƌƉƌŽŵŝƐĞƐ͘
΀͙΁ǀĞŶŝĨŵƵƚƵĂůĐŽŽƉĞƌĂƟŽŶŝƐƉƌĞĨĞƌĂďůĞƚŽŵƵƚƵĂůĚĞĨĞĐ-
ϰϭdhE'͕&ƌĞĚĞƌŝĐŬ͘Η^ŬĞƉƟĐŝƐŵďŽƵƚhŶŝǀĞƌƐĂůŝƐŵ͘͘͘Η, p. 20-37.

ƟŽŶ͕ƐƚĂƚĞƐǁŝůůŚĂǀĞĚŝĸĐƵůƚǇŵĂŬŝŶŐĐƌĞĚŝďůĞƚŚĞŝƌƉƌŽŵŝƐĞƐ
to cooƉĞƌĂƚĞ͘Η42
KƵƚƌĂĨŽƌƚĞĐƌşƟĐĂĠa imprevisibilidade43ĚŽĞůĞŵĞŶƚŽĚĞĐŽŶĞǆĆŽ
ƌĞƐƉŽŶƐĄǀĞů ƉŽƌ ĞƐƚĂďĞůĞĐĞƌ Ă ĐŽŵƉĞƚġŶĐŝĂ ũƵƌŝƐĚŝĐŝŽŶĂů ŶŽƐ ĐĂƐŽƐ ĚĞ
ŝŶƐŽůǀġŶĐŝĂ ƚƌĂŶƐŶĂĐŝŽŶĂů͕ ŐĞƌĂůŵĞŶƚĞ ŵĂŶŝĨĞƐƚĂŶĚŽͲƐĞ ĂƚƌĂǀĠƐ ĚĂ Ĩſƌ-
ŵƵůĂ ĚŽ ͞ĐĞŶƚƌŽ ĚŽƐ ŝŶƚĞƌĞƐƐĞƐ ƉƌŝŶĐŝƉĂŝƐ ĚŽ ĚĞǀĞĚŽƌ͟ ;centre of the
debtor’s main interests͕ĐŽŵƵŵĞŶƚĞĂďƌĞǀŝĂĚŽƉĂƌĂKD/Ϳ͘/ŶĨĞůŝǌŵĞŶ-
ƚĞ͕ Ğŵ ƌĂǌĆŽ ĚŽƐ ůŝŵŝƚĞƐ ĚĞƐƚĞ ĞƐƚƵĚŽ͕ ŶĆŽ ƐĞƌĄ ƉŽƐƐşǀĞů ĂŶĂůŝƐĂƌ ĐŽŵ
ƉƌŽĨƵŶĚŝĚĂĚĞ ĂƐ ƉƌŽďůĞŵĄƟĐĂƐ ĚĞƐƚĞ ĐŽŶĐĞŝƚŽ͕ ĐĂďĞŶĚŽͲƐĞ ƌĞƐƐĂůƚĂƌ
ƚĆŽƐŽŵĞŶƚĞƋƵĞƐƵĂŇƵŝĚĞǌƉŽĚĞĐŽŶĚƵǌŝƌăŽĐŽƌƌġŶĐŝĂĚĞforum shop-
ping44͕ƋƵĂŶĚŽ͕ƉŽƌĞǆĞŵƉůŽ͕ŽĚĞǀĞĚŽƌĂůƚĞƌĂŽƐĞƵĐĞŶƚƌŽĚĞŝŶƚĞƌĞƐƐĞƐ
ƉĂƌĂůĞǀĂƌƐĞƵƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂĂƵŵĂũƵƌŝƐĚŝĕĆŽƋƵĞĞŶƚĞŶĚĂƐĞƌ
ŵĂŝƐĂŵŝŐĄǀĞůĂƐĞƵƐŝŶƚĞƌĞƐƐĞƐ͘
WŽƌĮŵ͕ŶŽĐĂƐŽĚŽƐŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐ͕ƐƵƌŐĞŶŽǀŽƉƌŽďůĞŵĂ͘dĞŶ-
ĚŽĞŵǀŝƐƚĂƋƵĞƵŵĂƐƵďƐŝĚŝĄƌŝĂĞƐƚƌĂŶŐĞŝƌĂĠƵŵĂƉĞƐƐŽĂũƵƌşĚŝĐĂĚŝƐƟŶƚĂ
ĚĂƐŽĐŝĞĚĂĚĞͲŵĆĞ͕ĚŝĨĞƌĞŶƚĞŵĞŶƚĞĚŽƋƵĞŽĐŽƌƌĞĐŽŵŽĐĂƐŽĚĂĮůŝĂů͕Ă
sua reunião com o grupo do ponto de vista patrimonial ignoraria comple-
ƚĂŵĞŶƚĞĂĞǆŝƐƚġŶĐŝĂĚĞĚŝƐƟŶƚĂƐƉĞƌƐŽŶĂůŝĚĂĚĞƐũƵƌşĚŝĐĂƐĞŵƉƌŽůĚĞƵŵĂ
ĂŶĄůŝƐĞ ƉƵƌĂŵĞŶƚĞ ĞĐŽŶƀŵŝĐĂ͕ ƉƌŝǀŝůĞŐŝĂŶĚŽ ŽƐ ŝŶƚĞƌĞƐƐĞƐ ĚŽƐ ĐƌĞĚŽƌĞƐ
ƐŽďƌĞĂďŽĂƚĠĐŶŝĐĂĚŽĚŝƌĞŝƚŽŽƵ͕ŶŽĐĂƐŽĚĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͕ŝŶŇĂŶ-
ĚŽŽƉƌŝŶĐşƉŝŽĚĂƉƌĞƐĞƌǀĂĕĆŽĚĂĞŵƉƌĞƐĂ45. No entanto, os defensores
ĚŽ ƵŶŝǀĞƌƐĂůŝƐŵŽ ĂĚǀŽŐĂŵ ƋƵĞ ƉƌŽĐĞƐƐŽƐ ĚĞ ŝŶƐŽůǀġŶĐŝĂ ĚĞ ŐƌƵƉŽƐ ƐŽ-
ĐŝĞƚĄƌŝŽƐƌĞƵŶŝĚŽƐĞŵƵŵƷŶŝĐŽũƵşǌŽƐĞƌŝĂĂŽƉĕĆŽŵĂŝƐďĞŶĠĮĐĂĂƚŽĚŽƐ
ŽƐĞŶǀŽůǀŝĚŽƐ͘EĞƐƐĞƐĞŶƟĚŽ͕ŽũƵŝǌĂŵĞƌŝĐĂŶŽ^ĂŵƵĞů>͘ƵīŽƌĚƉƌŽƉƁĞ͕
ĐŽŵŽƐŽůƵĕĆŽ͕ƋƵĞƐĞũĂĂŶĂůŝƐĂĚĂĂŝŶƚĞŐƌĂĕĆŽĞĐŽŶƀŵŝĐĂĚŽŐƌƵƉŽĞĮǆĂ-
42 Idem, p. 31.
ϰϯ :ŽǌĠ ąŶĚŝĚŽ ^ĂŵƉĂŝŽ ĚĞ >ĂĐĞƌĚĂ ƚƌĂǌ ĂůŐƵŶƐ ƌŝƐĐŽƐ ĂĚŝĐŝŽŶĂŝƐ Ğŵ ĚĞĐŽƌƌġŶĐŝĂ ŝŵƉƌĞǀŝƐŝďŝůŝĚĂĚĞ͗ ͞YƵĂŶƚŽ ĂŽ
ƐŝƐƚĞŵĂĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞ͕ĚŝǌĞŵ͕ĂŵĞĂĕĂĂƐŽďĞƌĂŶŝĂŶĂĐŝŽŶĂůĞĐŽŶƚƌĂƌŝĂĂƐŶŽƌŵĂƐĚĞĚŝƌĞŝƚŽƉŽƐŝƟǀŽƐŽďƌĞĂ
ĐŽŵƉĞƚġŶĐŝĂĚŽƐƚƌŝďƵŶĂŝƐĂƌĞƐƉĞŝƚŽĚŽƐĞƐƚƌĂŶŐĞŝƌŽƐ͘ůĠŵĚŝƐƐŽ͕ĚŝĮĐƵůƚĂĂĂĕĆŽĚŽƐĐƌĞĚŽƌĞƐĞƐƚƌĂŶŐĞŝƌŽƐĞĂŝŶĚĂ
ŝůƵĚĞŽƐĐƌĞĚŽƌĞƐƋƵĞ͕ĐŽŶƚĂŶĚŽĐŽŵŽƐďĞŶƐĚŽĚĞǀĞĚŽƌĞǆŝƐƚĞŶƚĞƐŶŽƉĂşƐ͕ǀĞƌŝĂŵĞƐƚĞƐĚĞƐƟŶĂĚŽƐĂŽƉĂŐĂŵĞŶƚŽ
ĚĞĐƌĞĚŽƌĞƐĞƐƚƌĂŶŐĞŝƌŽƐ͕ĐƵũĂĞǆŝƐƚġŶĐŝĂŝŐŶŽƌĂǀĂŵ͘ĞƐƐĞĂƌŐƵŵĞŶƚŽ͕ƚŽĚĂǀŝĂ͕ƌĞƐƉŽŶĚĞZ>ƋƵĞŽƐĐƌĞĚŽƌĞƐ͕
ĐŽŶƚƌĂƚĂŶĚŽĐŽŵŽĚĞǀĞĚŽƌ͕ĚĞǀĞƌŝĂŵƚĞƌĞŵĐŽŶƚĂĂĞǀĞŶƚƵĂůŝĚĂĚĞĚĂĨĂůġŶĐŝĂĐŽŵƚŽĚĂƐƵĂĨŽƌĕĂ͘͟>Z͕͘͘͘͘
Manual.... p. 330.
ϰϰŽŶĨŽƌŵĞůŝĕĆŽĚĞ:ĂĐŽďŽůŝŶŐĞƌ͕Ă͞ĞǆƉƌĞƐƐĆŽ͚ĨŽƌƵŵƐŚŽƉƉŝŶŐ͛ƐĞƌĞĨĞƌĞăƉƌŽĐƵƌĂĚĞƵŵĂũƵƌŝƐĚŝĕĆŽĞŵƋƵĞ
ĂƐƉĂƌƚĞƐ͕ŽƵƵŵĂĚĞůĂƐ͕ƉĞŶƐĂƋƵĞůŚĞƐĞƌĄĨĞŝƚĂŵĞůŚŽƌũƵƐƟĕĂ͕ŽƵŽŶĚĞƚĞƌĄŵĂŝƐƉƌŽďĂďŝůŝĚĂĚĞĚĞġǆŝƚŽ͕ƉŽƌƵŵĂ
ŽƵŽƵƚƌĂƌĂǌĆŽ͘΀͘͘͘΁΀E΁ĞŵƚŽĚŽ͚ĨŽƌƵŵƐŚŽƉƉŝŶŐ͛ƐĞŝĚĞŶƟĮĐĂĐŽŵĂĨƌĂƵĚĞăůĞŝ͘YƵĂŶĚŽƵŵĐŽŶƚƌĂƚĂŶƚĞƌĞƐŽůǀĞ
ŶĆŽƉƌŽĐĞƐƐĂƌĂŽƵƚƌĂƉĂƌƚĞĞŵƐĞƵĨŽƌŽŶĂƚƵƌĂů;ĚŽŵŝĐşůŝŽĚŽƌĠƵ͕ƉŽƌĞǆĞŵƉůŽͿ͕ĞƐĐŽůŚĞŶĚŽŽƵƚƌĂũƵƌŝƐĚŝĕĆŽ͕Ğŵ
ƋƵĞƐĞĞŶĐŽŶƚƌĂŽƉĂƚƌŝŵƀŶŝŽĚŽĚĞǀĞĚŽƌ͕ĞŽĨĂǌĐŽŵĨƵŶĚĂŵĞŶƚŽŶĂůĞŐŝƐůĂĕĆŽƉƌŽĐĞƐƐƵĂůĚŽůŽĐĂůĞƐĐŽůŚŝĚŽ͕ƋƵĞ
ĂĚŵŝƚĞĞƐƐĞƟƉŽĚĞĐŽŵƉĞƚġŶĐŝĂũƵƌŝƐĚŝĐŝŽŶĂů͕ĞƐƚĂƌĄŽĐŽƌƌĞŶĚŽƵŵ͚ĨŽƌƵŵƐŚŽƉƉŝŶŐ͛ƋƵĞŶĆŽƐĞĐĂƌĂĐƚĞƌŝǌĂĐŽŵŽ
ĨƌĂƵĚĂƚſƌŝŽăůĞŝ͕ĂƉĞƐĂƌĚĞŽĨŽƌŽĞƐĐŽůŚŝĚŽĂƉůŝĐĂƌůĞŝĚŝǀĞƌƐĂĚĂƋƵĞůĂƋƵĞƐĞƌŝĂĂƉůŝĐĂĚĂ͘͟;K>/E'Z͕:ĂĐŽď͘ Direi-
to Internacional privado...͕Ɖ͘ϰϲϬͲϰϲϭͿ͘
ϰϱEŽĐĂƐŽĚĂůĞŐŝƐůĂĕĆŽďƌĂƐŝůĞŝƌĂ͕ƚĂůƉƌŝŶĐşƉŝŽƌĞƐƚŽƵƉŽƐŝƟǀĂĚŽŶŽĂƌƚ͘ϰϳĚĂ>ĞŝŶǑϭϭ͘ϭϬϭͬϮϬϬϱ͘

ĚŽƐĞƵĐĞŶƚƌŽĚŽƐŝŶƚĞƌĞƐƐĞƐƉƌŝŶĐŝƉĂŝƐ͕ĂĮŵĚĞĚĞĮŶŝƌƋƵĂůƐĞƌĄŽũƵşǌŽ
ĐŽŵƉĞƚĞŶƚĞƉĂƌĂŽĐĂƐŽ͗
ΗdŚĞƵŶŝǀĞƌƐĂůŝƐƚƐŽůƵƟŽŶŝƐƚŽŵŽĚŝĨǇƚŚĞKD/ĚĞĮŶŝƟŽŶƚŽ
ƉƌŽǀŝĚĞ ƚŚĂƚ ƚŚĞ ĐŽƌƉŽƌĂƚĞ ŐƌŽƵƉ ǀĞŶƵĞ ĚĞĐŝƐŝŽŶ ďĞ ďĂƐĞĚ
ŽŶƚŚĞĐŽůůĞĐƟǀĞKD/ŽĨĂůůƚŚĞůĞŐĂůĞŶƟƟĞƐƚŚĂƚŽƉĞƌĂƚĞ
ƚŽŐĞƚŚĞƌĂƐĂŶŝŶƚĞŐƌĂƚĞĚĞĐŽŶŽŵŝĐƵŶŝƚ͘dŚƵƐǁŚĞƌĞƚǁŽŽƵ
more companies are economically integrated and operate as
ĂƐŝŶŐůĞĞĐŽŶŽŵŝĐŐƌŽƵƉ͕ƚŚĞKD/ĚĞĐŝƐŝŽŶĨŽƌƚŚĞĐŽƌƉŽ-
ƌĂƚĞŐƌŽƵƉǁŽƵůĚĚŝƐƉůĂĐĞĂĚĞĐŝƐŝŽŶďĂƐĞĚŽŶƚŚĞKD/ŽĨ
ƚŚĞƐĞƉĂƌĂƚĞůĞŐĂůĞŶƟƟĞƐ͘/ŶĐŽŶƚƌĂƐƚ͕ǁŚĞƌĞĂĐŽŵƉĂŶǇŝƐ
ŶŽƚŝŶƚĞŐƌĂƚĞĚŝŶƚŽƚŚĞŐƌŽƵƉĂƐĂƐŝŶŐůĞĞĐŽŶŽŵŝĐƵŶŝƚ͕ƚŚĞ
ĐŽƵƌƚƐŚŽƵůĚĚĞĐŝĚĞŝƚƐƉƌŽƉĞƌǀĞŶƵĞƐĞƉĂƌĂƚĞůǇďĂƐĞĚŽŶƚŚĞ
ůŽĐĂƟŽŶŽĨŝƚƐKD/΀͙΁͘Η46
ŵ ĐŽŶƚƌĂƉŽŶƚŽ Ă ĞƐƐĂ ǀŝƐĆŽ͕ Ž ƉƌŽĨĞƐƐŽƌ >ǇŶŶ D͘ >ŽWƵĐŬŝ͕ ĨŽƌƚĞ

ĐƌşƟĐŽĚŽƐŝƐƚĞŵĂƵŶŝǀĞƌƐĂůŝƐƚĂ͕ĐƌŝƟĐĂŽƉŽƐŝĐŝŽŶĂŵĞŶƚŽĚŽƐƵƉƌĂĐŝƚĂĚŽ
ŵĂŐŝƐƚƌĂĚŽ͕ƐƵƐƚĞŶƚĂŶĚŽƋƵĞĂĂŶĄůŝƐĞĚĂŝŶƚĞŐƌĂĕĆŽĞĐŽŶƀŵŝĐĂĞƐƚĂƌŝĂ
ŵĂĐƵůĂĚĂƉŽƌƵŵĂŝŶĂĐĞŝƚĄǀĞůƐƵďũĞƟǀŝĚĂĚĞ47.
4. O SISTEMA TERRITORIALISTA
KĞŶƋƵĂĚƌĂŵĞŶƚŽĚĂŝŶƐŽůǀġŶĐŝĂŶĂĐŽŶĚŝĕĆŽĚĞƉƌŽĐĞƐƐŽƋƵĞŽď-
ũĞƟǀĂĂĚŵŝŶŝƐƚƌĂƌĞĂůŝĞŶĂƌŽƐďĞŶƐĚŽĚĞǀĞĚŽƌ;ĞƐƚĂƚƵƚŽƌĞĂůͿĐŽŶĚƵǌĂŽ
ƐŝƐƚĞŵĂƚĞƌƌŝƚŽƌŝĂůŝƐƚĂ͘ŽŶĨŽƌŵĞůŝĕĆŽĚŽƉƌŽĨĞƐƐŽƌ>ǇŶŶ>ŽWƵĐŬŝ͕͚͞Territo-
ϰϲh&&KZ͕^ĂŵƵĞů>͘ΗGlobal Venue Controls Are Coming: A Reply to Professor LoPuckiΗ͘Penn State Law eLibra-
ry.ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬĞůŝďƌĂƌǇ͘ůĂǁ͘ƉƐƵ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϭϭϲϮΘĐŽŶƚĞǆƚсĨĂĐͺǁŽƌŬƐх, p. 136-137.
ĐĞƐƐŽĞŵ͗Ϭϰ͘Ϭϱ͘ϮϬϭϲ͕Ɖ͘ϭϯϲͲϭϯϳ͘
ϰϳKƉƌŽĨĞƐƐŽƌ>ŽWƵĐŬŝĐŽŶƟŶƵĂƐƵĂĐƌŝƟĐĂ͕ĞǆĞŵƉůŝĮĐĂŶĚŽƐĞƵƌĂĐŝŽĐşŶŝŽ͚͗͞ĐŽŶŽŵŝĐŝŶƚĞŐƌĂƟŽŶ͛ĂƐŝƚŝƐƵƐĞĚŚĞƌĞ
ŚĂƐŶŽŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĚĞĮŶŝƟŽŶ͘:ƵĚŐĞƵīŽƌĚĂƉƉĞĂƌƐƚŽƉƌŽƉŽƐĞĂƐŚŝƐƚĞƐƚǁŚĞƚŚĞƌƚŚĞĞŶƟƟĞƐŝŶƋƵĞƐƟŽŶ
ĂƌĞ͞ĂďůĞƚŽŽƉĞƌĂƚĞƐĞƉĂƌĂƚĞůǇ͘͟:ƵĚŐĞƵīŽƌĚĐůĂŝŵƐƚŚĂƚ͞ƚŚŝƐŬŝŶĚŽĨĚĞĐŝƐŝŽŶǁŝůůŶŽƚůŝŬĞůǇĂƌŝƐĞŽŌĞŶ͘͟hŶĚĞƌŚŝƐ
ƚĞƐƚ͕ǀĞŶƵĞǁŽƵůĚĚĞƉĞŶĚŽŶǁŚŝĐŚĂƐƐĞƚƐƐŚŽƵůĚďĞƌĞŽƌŐĂŶŝǌĞĚŽƌůŝƋƵŝĚĂƚĞĚƚŽŐĞƚŚĞƌ͘KŶĞŶĞĞĚŽŶůǇĞǆĂŵŝŶĞĂĨĞǁ
ĐĂƐĞƐƚŽƐĞĞƚŚĂƚ͕ĐŽŶƚƌĂƌǇƚŽŚŝƐĂƐƐĞƌƟŽŶ͕ƚŚĞŝƐƐƵĞǁŽƵůĚĂƌŝƐĞŝŶǀŝƌƚƵĂůůǇĞǀĞƌǇďŝŐĐĂƐĞ͘ŝĚĂƐƚĞƌŶŝƌůŝŶĞƐŶĞĞĚ
ŝƚƐƐŚƵƩůĞƚŽƐƵƌǀŝǀĞ͍^ŚŽƵůĚƚŚĞŵŽƌĞƚŚĂŶŽŶĞƚŚŽƵƐĂŶĚĨƵŶĞƌĂůŚŽŵĞƐŝŶƚŚĞ>ŽĞǁĞŶ'ƌŽƵƉďĞŬĞƉƚƚŽŐĞƚŚĞƌŽƌ
ůŝƋƵŝĚĂƚĞĚƐĞƉĂƌĂƚĞůǇ͍tĂƐD/ƐŽŝŶƚĞŐƌĂƚĞĚŝŶƚŽtŽƌůĚĐŽŵ͛ƐĮŶĂŶĐĞƐĂŶĚŽƉĞƌĂƟŽŶƐƚŚĂƚŝƚǁĂƐŝŵƉƌĂĐƟĐĂůĨŽƌƚŚĞ
ĐŽƵƌƚƚŽƐĞƉĂƌĂƚĞƚŚĞŵ͍^ŚŽƵůĚƚŚĞƉŝƉĞůŝŶĞƐŽĨŶƌŽŶŚĂǀĞďĞĞŶƌĞŽƌŐĂŶŝǌĞĚƚŽŐĞƚŚĞƌĂƐĂŶĞƚǁŽƌŬ͕ŽƌƐŽůĚŽīŽŶĞďǇ
ŽŶĞ͍ĂĐŚŽĨƚŚĞƐĞŝƐƐƵĞƐǁĂƐĐŽƌĞƚŽĂďĂŶŬƌƵƉƚĐǇĐĂƐĞ͘dŚĞŝƐƐƵĞƐǁĞƌĞƌĞƐŽůǀĞĚďǇĐŽŵƉĂŶŝĞƐ͛ŵĂŶĂŐĞƌƐĂŶĚƉƌŽĨĞƐ-
ƐŝŽŶĂůƐ͕ŝŶŝŶƚĞƌĂĐƟŽŶƐǁŝƚŚƌĞƉƌĞƐĞŶƚĂƟǀĞƐŽĨĐƌĞĚŝƚŽƌƐĂŶĚƐŚĂƌĞŚŽůĚĞƌƐŽǀĞƌƉĞƌŝŽĚƐŽĨŵŽŶƚŚƐŽƌǇĞĂƌƐ͘KŌĞŶ͕ƚŚĞ
ƉĂƌƟĞƐƌĞƐŽůǀĞĚƚŚĞŵďǇƚĂŬŝŶŐĂǁĂŝƚͲĂŶĚͲƐĞĞĂƉƉƌŽĂĐŚ͘:ƵĚŐĞƵīŽƌĚǁŽƵůĚŚĂǀĞƚŚĞďĂŶŬƌƵƉƚĐǇĐŽƵƌƚƌĞƐŽůǀĞƚŚĞŵ
ŝŶϰϬĚĂǇƐĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĐĂƐĞʹĂƐĂƉƌĞƌĞƋƵŝƐŝƚĞƚŽĚĞƚĞƌŵŝŶŝŶŐǁŚŝĐŚĐŽƵƌƚƐŚŽƵůĚŚĂǀĞƚŚĞĐĂƐĞ͘͟>KWh</͕
>ǇŶŶD͘ΗhŶŝǀĞƌƐĂůŝƐŵhŶƌĂǀĞůƐΗ. American Bankruptcy Law Journal͕ũƵŶŚŽĚĞϮϬϬϱ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘
ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϳϯϮϭϮϯх͘ĐĞƐƐŽĞŵ͗ϭϳ͘Ϭϯ͘ϮϬϭϲ͕Ɖ͘ϭϮͲϭϯ͘

ƌŝĂůŝƚǇ͕͛ĂƐƚŚĞƚĞƌŵŝƐĐŽŵŵŽŶůǇƵƐĞĚŝŶƚŚĞĮĞůĚŽĨŝŶƚĞƌŶĂƟŽŶĂůďĂŶŬƌƵƉ-
ƚĐǇ͕ƌĞĨĞƌƐƚŽĂƐǇƐƚĞŵŝŶǁŚŝĐŚĞĂĐŚĐŽƵŶƚƌǇĂĚŵŝŶŝƐƚĞƌƐƚŚĞĂƐƐĞƚƐǁŝƚŚŝŶ
ƚŚĞĐŽƵŶƚƌǇ͛ƐŽǁŶƚĞƌƌŝƚŽƌǇĂŶĚƌĞĐŽŐŶŝǌĞƐŽƚŚĞƌĐŽƵŶƚƌŝĞƐ͛ƌŝŐŚƚƐƚŽĚŽƚŚĞ
same͟48.Como se vġ͕ŶĞƐƐĞƐŝƐƚĞŵĂ͕ĂĚĞĐŝƐĆŽĚĞĐĂĚĂdƌŝďƵŶĂůĞƐƚĄƌĞƐ-
tringida tão somente às fronteiras de seu território nacional, de modo que
ƐſƉŽĚĞƌĄǀĞƌƐĂƌŶĂƚƵƌĂůŵĞŶƚĞƐŽďƌĞĂƋƵĞůĞƐďĞŶƐƋƵĞĞƐƚĞũĂŵƐŝƚƵĂĚŽƐ
dentro desses limites. EĞƐƐĞĚŝĂƉĂƐĆŽ͕ĂĚŝĐŝŽŶĂůĞǆĂŶĚĞƌ<ŝƉŶŝƐ͗“[t]he
ďĂƐŝĐƌƵůĞŽĨƚĞƌƌŝƚŽƌŝĂůŝƚǇƐƚĂƚĞƐƚŚĂƚƚŚĞĐŽƵƌƚƐŽĨĞĂĐŚƐƚĂƚĞŝŶǁŚŝĐŚƚŚĞ
ĚĞďƚŽƌŚĂƐĂƐƐĞƚƐĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌĚŝƐƚƌŝďƵƟŶŐƚŚŽƐĞĂƐƐĞƚƐʹĂŶĚŽŶůǇ
ƚŚŽƐĞĂƐƐĞƚƐʹƚŚĂƚĂƌĞůŽĐĂƚĞĚǁŝƚŚŝŶƚŚĞƚĞƌƌŝƚŽƌǇŽĨƚŚĂƚƐƚĂƚĞ͟49.
WŽƌƚĂŶƚŽ͕ƉŽĚĞƌĄŚĂǀĞƌƚĂŶƚŽƐƉƌŽĐĞƐƐŽƐƋƵĂŶƚĂƐũƵƌŝƐĚŝĕƁĞƐĞŵƋƵĞ
ŚĂũĂ ďĞŶƐ ĚŽ ĨĂůŝĚŽ Ğ ĐĂĚĂ dƌŝďƵŶĂů ĂƉůŝĐĂƌĄ ƐƵĂ ƉƌſƉƌŝĂ ůĞŝ ĂŽƐ ĂƐƐƵŶƚŽƐ
ǀĞŶƟůĂĚŽƐŶĂůŝĚĞĂĞůĞĞŶĚĞƌĞĕĂĚĂ;lex fori concursus)50-51. Ainda em com-
plementação à conceituação fornecida͕ĐŝƚĂͲƐĞƉƌĞůĞĕĆŽĚĞ,ĂƌŽůĚƵƌŵĂŶ͗
Η^ƚĂƚĞƐ ƚŚĂƚ ĚŽ ŶŽƚ ƌĞĐŽŐŶŝǌĞ ƚŚĞ ůĞŐŝƟŵĂĐǇ ŽĨ ĨŽƌĞŝŐŶ ŝŶ-
ƐŽůǀĞŶĐǇƉƌŽĐĞĞĚŝŶŐƐ͕ŽƌƌĞĐŽŐŶŝǌĞƚŚĞŵŝŶůŝŵŝƚĞĚƌĞƐƉĞĐƚƐ
ĂŶĚ ŐŝǀĞ ŵŝŶŝŵĂů ĞīĞĐƚ ƚŚĞƌĞƚŽ͕ ĂƌĞ ƐĂŝĚ ƚŽ ĂĚŚĞƌĞ ƚŽ ƚŚĞ
͞ƚĞƌƌŝƚŽƌŝĂůŝƚǇ͟ĂƉƉƌŽĂĐŚ͘hŶĚĞƌƚŚŝƐĂƉƉƌŽĂĐŚ͕ĞĂĐŚƐƚĂƚĞĂƐ-
ƐĞƌƚƐƚŚĞƐŽǀĞƌĞŝŐŶŽĨŝƚƐĚŽŵĞƐƟĐůĂǁ͕ĂƚůĞĂƐƚǁŝƚŚƌĞŐĂƌĚƚŽ
ƉƌŽƉĞƌƚǇŽƌƉĂƌƟĞƐǁŝƚŚŝŶŝƚƐũƵƌŝƐĚŝĐƟŽŶ͕ƚŚƵƐĨŽƌĞĐůŽƐŝŶŐŽƌ
ƐŝŐŶŝĮĐĂŶƚůǇůŝŵŝƟŶŐƉƌŽƐƉĞĐƚƐŽĨĐŽŽƉĞƌĂƟŽŶǁŝƚŚƌĞƐƉĞĐƚƚŽ
ĨŽƌĞŝŐŶŝŶƐŽůǀĞŶĐǇƉƌŽĐĞĞĚŝŶŐƐ͘Η52
ǆƉůŝĐĂ:ŽǌĠ Cândido^ĂŵƉĂŝŽĚĞ>ĂĐĞƌĚĂ͗
ΗKƐŝƐƚĞŵĂĚĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞ͕ƋƵĞŝŵƉůŝĐŝƚĂŵĞŶƚĞĐŽŶĚƵǌă
ƉůƵƌĂůŝĚĂĚĞĚĞĨĂůġŶĐŝĂƐĂƌĞƐƉĞŝƚŽĚŽŵĞƐŵŽĚĞǀĞĚŽƌĞƐƵƐ-
ƚĞŶƚĂĚŽƉŽƌǀĄƌŝŽƐĂƵƚŽƌĞƐ΀͘͘͘΁͕ĠũƵƐƟĮĐĄǀĞůƉĞůĂƐƐĞŐƵŝŶƚĞƐ
ƌĂǌƁĞƐ͗ĂƐůĞŝƐĚĞĨĂůġŶĐŝĂƐĆŽůĞŝƐĚĞĚĞĨĞƐĂĚŽĐƌĠĚŝƚŽƉƷďůŝ-
ϰϴ>KWh</͕>ǇŶŶD͕͘ΗŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͙Η, p. 47.
ϰϵ</WE/^͕ůĞǆĂŶĚĞƌD͘ΗĞǇŽŶĚhE/dZ>͙Η, p. 17.
ϱϬŽŶĨŽƌŵĞĐŽŶĐĞŝƚŽĚĞĂƌŵĞŶdŝďƵƌĐŝŽ͕͞ĂƚĞŽƌŝĂĚĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞĚĞĨĞŶĚĞĂŝĚĞŝĂĚĞƋƵĞĚĞǀĞŚĂǀĞƌǀĄƌŝĂƐ
ůĞŝƐĂƉůŝĐĄǀĞŝƐĞũƵƌŝƐĚŝĕƁĞƐĐŽŵƉĞƚĞŶƚĞƐƉĂƌĂƌĞŐĞƌĞƐƐĂƐƋƵĞƐƚƁĞƐ͕ĞŵĐŽŶĨŽƌŵŝĚĂĚĞĐŽŵĂůŽĐĂůŝǌĂĕĆŽĚŽƐďĞŶƐ
ĚŽĚĞǀĞĚŽƌ͘/ƐƐŽƐŝŐŶŝĮĐĂƋƵĞ͕ƋƵĂŶƚŽăůĞŝĂƉůŝĐĄǀĞů͕ŽƐĐƌĞĚŽƌĞƐůŽĐĂŝƐĚĞǀĞŵƐĞƐƵďŵĞƚĞƌăůĞǆĨŽƌŝ͕ŶŽƌŵĂůŵĞŶƚĞ
ŵĂŝƐǀĂŶƚĂũŽƐĂ͘ŵƌĞůĂĕĆŽăũƵƌŝƐĚŝĕĆŽ͕ŚĂǀĞƌĄƚĂŶƚŽƐƉƌŽĐĞƐƐŽƐĚĞĨĂůġŶĐŝĂƋƵĂŶƚŽũƵƌŝƐĚŝĕƁĞƐĞŵƋƵĞĞǆŝƐƚĂŵďĞŶƐ
ĚŽĨĂůŝĚŽĞ͕ŶĞƐƐĂůŝŶŚĂ͕ŶĞŶŚƵŵĂƐĞŶƚĞŶĕĂĚĞĨĂůġŶĐŝĂƉƌŽĚƵǌĞĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ͘͟d/hZ/K͕ĂƌŵĞŶ͘ΗĨĞŝƚŽƐ
ĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐĚĂĨĂůġŶĐŝĂ͙Η͕Ɖ͘ϮϬϮ͘
ϱϭ:ĄŶĂǀŝƐĆŽĚĞ^ĂŵƵĞůƵīŽƌĚ͕͞΀ƚ΁ĞƌƌŝƚŽƌŝĂůŝƐŵŝƐƚŚĞǀŝĞǁƚŚĂƚĂďĂŶŬƌƵƉƚĐǇĐĂƐĞƐŚŽƵůĚďĞƵƐĞĚŽŶůǇƚŽĂĚŵŝŶŝƐ-
ƚĞƌƚŚĞĚŽŵĞƐƟĐĂƐƐĞƚƐŽĨĂŵƵůƟŶĂƟŽŶĂůĚĞďƚŽƌƵŶĚĞƌĚŽŵĞƐƟĐůĂǁĨŽƌƚŚĞďĞŶĞĮƚŽĨĚŽŵĞƐƟĐĐƌĞĚŝƚŽƌƐ͕ǁŚĞƚŚĞƌ
ƚŚƌŽƵŐŚƌĞŽƌŐĂŶŝǌĂƟŽŶŽƌůŝƋƵŝĚĂƟŽŶ͘͟h&&KZ͕^ĂŵƵĞů>͘Η'ůŽďĂůsĞŶƵĞ͙Η, p. 113.
ϱϮhZDE͕,ĂƌŽůĚ^͘Η,ĂƌŵŽŶŝǌĂƟŽŶŽĨ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ>Ăǁ͙Η, p. 2551.

co e, por isso, são leis territoriais e como leis processuais de
ĞǆĞĐƵĕĆŽ ƐŽďƌĞ ŽƐ ďĞŶƐ ĚŽ ĚĞǀĞĚŽƌ Ɛſ ƐĞƌĆŽ ĂƉůŝĐĄǀĞŝƐ ĂŽ
ƚĞƌƌŝƚſƌŝŽŽŶĚĞƚĂŝƐďĞŶƐƐĞĞŶĐŽŶƚƌĞŵ͘Η53
KƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĠŽƐŝƐƚĞŵĂƋƵĞĐŽƐƚƵŵĂƉƌĞǀĂůĞĐĞƌŶŽƐĐĂƐŽƐĚĞ
ĂƵƐġŶĐŝĂĚĞƌĞŐƌĂƐĞƐƉĞĐşĮĐĂƐĚĞĚŝƌĞŝƚŽŝŶƚĞƌŶĂĐŝŽŶĂůƐŽďƌĞŽƚĞŵĂ͕ŶĆŽ
ƉŽƌƌĂǌĆŽĚĞƉƌŽĨƵŶĚŽƐĚĞďĂƚĞƐĂĐĂĚġŵŝĐŽƐ͕ŵĂƐƉĞůĂŶĂƚƵƌĂůĚĞĨĞƐĂĚŽ
ƉƌŝŶĐşƉŝŽ ĚĂ ƐŽďĞƌĂŶŝĂ ĞƐƚĂƚĂů54͘ ^ĂůŝĞŶƚĂ ,ĂƌŽůĚŽ sĂůůĂĚĆŽ ƋƵĞ :ŽƐĞƉŚ
^ƚŽƌǇ͕ŶŽƐĠĐƵůŽy/y͕ĚĞĨĞŶĚĞƵŶŽƐƐƚĂĚŽƐhŶŝĚŽƐĂƉůƵƌĂůŝĚĂĚĞĚĞƉƌŽ-
ĐĞĚŝŵĞŶƚŽƐ ĚĞ ŝŶƐŽůǀġŶĐŝĂ͕ ƉŽĚĞŶĚŽ Ă lex fori regular os bens situados
no território do foro e privilegiar os credores embargantes nacionais em
face dos estrangeiros, sistema que foi seguido, v.g.͕ŶĂ&ƌĂŶĕĂ͕ƉŽƌD͘&Ž-
Ğůŝǆ;Traité de DIP͕ϭϴϲϲͿ͕ĐŽŵŚĂƌůĞƐĞŵĂŶŐĞĂƚ͕ĞƉŽƌDĂƐƐĞƚ;Droit
ŽŵŵĞƌĐŝĂůZĞůĂƟŽŶƐĂǀĞĐůĞ/W͕ϭϴϳϰͿ͕ďĞŵĐŽŵŽŽƐĐůĄƐƐŝĐŽƐŶƚŽŝŶĞ
WŝůůĞƚĞWĂƐĐĂůĚĞsĂƌĞŝůůĞƐͲ^ŽŵŵŝğƌĞƐ͖ŶĂ/ŶŐůĂƚĞƌƌĂ͕ƉŽƌtĞƐƚůĂŬĞ͖Ğ͕ŶĂ
ůĞŵĂŶŚĂ͕ƉŽƌsŽŶĂƌ55͘EĂ/ƚĄůŝĂ͕ĐŽŵŽǀŝƐƚŽŶŽƚſƉŝĐŽĂŶƚĞƌŝŽƌ͕ƚƌĂǀŽƵ-
ͲƐĞŝŶƚĞŶƐŽĚĞďĂƚĞƐŽďƌĞŽƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂ͕ƌĞƐƚĂŶĚŽƌĞŐŝƐƚƌĂĚŽ
ĐŽŵŽĚŽƐŐƌĂŶĚĞƐĚĞĨĞŶƐŽƌĞƐĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽŽũƵƌŝƐƚĂůĨƌĞĚŽZŽĐĐŽ56.
ĞŶƚƌĞĂƐǀĂŶƚĂŐĞŶƐĚŽƐŝƐƚĞŵĂ͕ĂƉƌŝŵĞŝƌĂƋƵĞƐĞĚĞƐƚĂĐĂĠŽĨĂƚŽ
ĚĞƐƵĂƵƟůŝĚĂĚĞƉƌĄƟĐĂƉĂƌĂƉƌĞƐĞƌǀĂƌĂƐƉŽůşƟĐĂƐůŽĐĂŝƐĚŽƐƐƚĂĚŽƐĞŶǀŽů-
vidos57͘KƉƌŽĐĞƐƐŽĨĂůŝŵĞŶƚĂƌĠĐŽŵƉůĞǆŽĞĞŶǀŽůǀĞĚŝǀĞƌƐŽƐŝŶƚĞƌĞƐƐĞƐĞŵ
ƐĞƵďŽũŽ͕ƌĂǌĆŽƉĞůĂƋƵĂůďŽĂƉĂƌĐĞůĂĚŽƐĂƐƐƵŶƚŽƐŶĞůĞƚƌĂƚĂĚŽƐĠƐĞŶƐşǀĞů
ƉĂƌĂŽƐƉĂşƐĞƐĞŶǀŽůǀŝĚŽƐ͘&ƌĞĚĞƌŝĐŬdƵŶŐ͕ĂƵƚŽƌƋƵĞƚĞŶƚŽƵĚĞŵŽŶƐƚƌĂƌĂ
ŝŵƉŽƐƐŝďŝůŝĚĂĚĞĨĄƟĐĂĚŽƵŶŝǀĞƌƐĂůŝƐŵŽĐŽŵďĂƐĞĞŵƵŵĂĂĚĂƉƚĂĕĆŽĚĂƚĞ-
ŽƌŝĂĚŽƐũŽŐŽƐ͕ĐŽŶĨŽƌŵĞũĄĂŶĂůŝƐĂĚŽ͕ĞǆƉƁĞĂůŐƵŵĂƐĚĂƐƌĂǌƁĞƐĚĂŶĂƚƵƌĂů
ƉƌĞĨĞƌġŶĐŝĂĚŽƐƐƚĂĚŽƐĚĞĂƉůŝĐĂƌƐƵĂƐƉƌſƉƌŝĂƐůĞŝƐăŝŶƐŽůǀġŶĐŝĂ͗
ΗĂŶŬƌƵƉƚĐǇďǇŝƚƐŶĂƚƵƌĞŝƐĂŵƵĐŚŵŽƌĞĚƌĂƐƟĐƚǇƉĞŽĨůĞŐĂů
ƉƌŽĐĞĞĚŝŶŐƚŚĂŶĂƐŝŵƉůĞĐŝǀŝůƐƵŝƚďĞƚǁĞĞŶƉƌŝǀĂƚĞƉĂƌƟĞƐ͘
ŐĂƌĚĞŶǀĂƌŝĞƚǇĐŝǀŝůƐƵŝƚƐĞƩůĞƐƌŝŐŚƚƐǁŝƚŚƌĞƐƉĞĐƚƚŽĂƉĂƌƟ-
ϱϯ>Z͕:ŽǌĠĂŶĚŝĚŽ^ĂŵƉĂŝŽĚĞ͘Manual.... p. 328.
ϱϰDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϴ͘
56 Ibidem.
ϱϳ͞ŽŵĞĨĞŝƚŽ͕ŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĨĂĐŝůŝƚĂĂƵƟůŝǌĂĕĆŽĚŽĚŝƌĞŝƚŽĨĂůŝŵĞŶƚĂƌĐŽŵŽŝŶƐƚƌƵŵĞŶƚŽĚĞĐŽŶƐĞĐƵĕĆŽĚĞƉŽůşƟ-
ĐĂƐůŽĐĂŝƐ͘/ƐƐŽŽĐŽƌƌĞƉŽƌƋƵĞ͕ĞŵƉƌŝŵĞŝƌŽůƵŐĂƌ͕ŽƐƉƌŽĐĞƐƐŽƐƚĞƌƌŝƚŽƌŝĂŝƐƐĆŽŵĂŝƐƐŝŵƉůĞƐĞ͕ƉŽƌƚĂŶƚŽ͕ŵĂŝƐƌĄƉŝĚŽƐ
ĞĞĮĐŝĞŶƚĞƐĞŵĞŶŽƐĐƵƐƚŽƐŽƐĚŽƋƵĞƵŵƷŶŝĐŽƉƌŽĐĞƐƐŽĚĞąŵďŝƚŽŵƵŶĚŝĂů͘͟DWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘
ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϴ͘ZĞŐŝƐƚƌĞͲƐĞ͕ĐŽŵŽƐĞǀĞƌĄĂĚŝĂŶƚĞ͕ƋƵĞĂ
ƋƵĞƐƚĆŽĚŽƐĐƵƐƚŽƐŶŽƐŝƐƚĞŵĂƚĞƌƌŝƚŽƌŝĂůŝƐƚĂĠĐŽŶƚƌŽǀĞƌƐĂ͕ƉŽŝƐƉŽĚĞŽĐŽƌƌĞƌŽĞŶĐĂƌĞĐŝŵĞŶƚŽ͕ƉŽƌĞǆĞŵƉůŽ͕ƉĂƌĂ
ƵŵĐƌĞĚŽƌŵĞĚŝĂŶƚĞƐƵĂŚĂďŝůŝƚĂĕĆŽĞŵƵŵĂƉůƵƌĂůŝĚĂĚĞĚĞƉƌŽĐĞĚŝŵĞŶƚŽƐĚĞŝŶƐŽůǀġŶĐŝĂĞƐƉĂůŚĂĚŽƐĂŽƌĞĚŽƌĚŽ
ŐůŽďŽ͕ŶĞĐĞƐƐŝƚĂŶĚŽĂƌĐĂƌĐŽŵƚŽĚĂƐĂƐĚĞƐƉĞƐĂƐĚĂşƉƌŽǀĞŶŝĞŶƚĞƐ͘

ĐƵůĂƌƚƌĂŶƐĂĐƟŽŶďĞƚǁĞĞŶƚŚĞƉĂƌƟĞƐ͕ĂŶĚĂĐŝǀŝůũƵĚŐŵĞŶƚŝƐ
ƐŝŵƉůǇĂŶŽƌĚĞƌƌĞƋƵŝƌŝŶŐƚŚĞƚƌĂŶƐĨĞƌŽĨŵŽŶĞǇďĞƚǁĞĞŶƉƌŝ-
ǀĂƚĞƉĂƌƟĞƐ͘ĂŶŬƌƵƉƚĐǇ͕ďǇĐŽŶƚƌĂƐƚ͕ŚĂƐǁŚŽůĞƐĂůĞĞīĞĐƚƐ͘
/ƚƉƌŽǀŝĚĞƐĨŽƌƚŚĞĐŽŵƉƌĞŚĞŶƐŝǀĞƌĞƐƚƌƵĐƚƵƌŝŶŐŽĨĂĮƌŵĂŶĚ
ĂůůŝƚƐůĞŐĂůƌĞůĂƟŽŶƐŚŝƉƐǁŝƚŚŝƚƐĐƌĞĚŝƚŽƌƐĂŶĚŽƚŚĞƌŝŶƚĞƌĞƐ-
ƚĞĚƉĂƌƟĞƐ͘DŽƌĞŽǀĞƌ͕ďĂŶŬƌƵƉƚĐǇůĂǁŝƐ͞ŵĞƚĂͲůĂǁ͘͟/ŶƌĞ-
ŵĂŬŝŶŐŽĨƚŚĞĮƌŵ͕ďĂŶŬƌƵƉƚĐǇůĂǁŽǀĞƌƌŝĚĞƐĐŽŶƚƌĂĐƚ͕ƉƌŽ-
ƉĞƌƚǇ͕ĂŶĚŽƚŚĞƌůĞŐĂůƌŝŐŚƚƐƚŚĂƚĞǆŝƐƚŽƵƚƐŝĚĞŽĨďĂŶŬƌƵƉƚĐǇ͘
΀͙΁tŝƚŚƚŚĞƐĞǁŚŽůĞƐĂůĞĞīĞĐƚƐ͕ĞĂĐŚƐƚĂƚĞ͛ƐďĂŶŬƌƵƉƚĐǇƌĞ-
ŐŝŵĞĞŵďŽĚŝĞƐŝƚƐŽǁŶŵǇƌŝĂĚƐŽĐŝĂůƉŽůŝĐŝĞƐ͘ĂĐŚƐƚĂƚĞŚĂƐ
ŝƚƐĨĂǀŽƌĞĚĐƌĞĚŝƚŽƌƐ͕ǁŚŽƐĞƌĞĐŽǀĞƌŝĞƐƚĂŬĞƉƌŝŽƌŝƚǇŽǀĞƌƚŚĞ
ŐĞŶĞƌĂůďŽĚǇŽĨĐƌĞĚŝƚŽƌƐ͘DŽƌĞŐĞŶĞƌĂůůǇ͕ƐƚĂƚĞƐƚĂŬĞĚŝīĞ-
ƌŝŶŐĂƉƉƌŽĂĐŚĞƐƚŽƌĞƐŽůǀŝŶŐĐŽƌƉŽƌĂƚĞĮŶĂŶĐŝĂůĚŝƐƚƌĞƐƐĂŶĚ
ŵĂǇŚĂǀĞĚŝǀĞƌŐĞŶƚǀŝĞǁƐĐŽŶĐĞƌŶŝŶŐƚŚĞĂƉƉƌŽƉƌŝĂƚĞŐŽĂůƐ
ĂŶĚŵĞƚŚŽĚƐ ĨŽƌĂďĂŶŬƌƵƉƚĐǇƐǇƐƚĞŵ͘ĂĐŚƐƚĂƚĞŶĂƚƵƌĂůůǇ
ƉƌĞĨĞƌƐŝƚƐŽǁŶƐĞƚŽĨƉŽůŝĐǇĐŚŽŝĐĞƐƚŽƚŚŽƐĞŽĨŽƚŚĞƌƐƚĂƚĞƐ͘
ƐƉĞĐŝĂůůǇǁŝƚŚƚŚĞďĂŶŬƌƵƉƚĐǇŽĨĂŵƵůƟŶĂƟŽŶĂůĮƌŵ͕ǁŚŝĐŚ
ŝƐ ůŝŬĞůǇ ƚŽ ŝŶǀŽůǀĞ ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƟĞƐ ŽĨ ƐŝŐŶŝĮĐĂŶƚ ǀĂůƵĞ͕
ƐƚĂƚĞƐŵĂǇĨĞĞůĂƐŝŐŶŝĮĐĂŶƚƐƚĂŬĞŝŶ ŚĂǀŝŶŐ ƚŚĞŝƌŽǁŶ ůĂǁƐ
ĂƉƉůǇ͕ĞƐƉĞĐŝĂůůǇǁŝƚŚŝŶƚŚĞŝƌďŽƌĚĞƌƐ͘Η58
dĂů ǀĂŶƚĂŐĞŵ͕ ƉŽƌ ŽƵƚƌŽ ůĂĚŽ͕ ƉŽĚĞ ƚĂŵďĠŵ ƐĞƌ ǀŝƐƚĂ ĐŽŵŽ ĚĞƐ-
ǀĂŶƚĂŐĞŵ͕ĂĮŶĂůĞƐƐĂƐŝƚƵĂĕĆŽĨĂǌĐŽŵƋƵĞĐĂĚĂƐƚĂĚŽƉŽƐƐĂĨĂǀŽƌĞĐĞƌ͕
ĂƚƌĂǀĠƐĚĞƐƵĂƐůĞŝƐ͕ĐƌĞĚŽƌĞƐůŽĐĂŝƐĞŵĚĞƚƌŝŵĞŶƚŽĚĞĞƐƚƌĂŶŐĞŝƌŽƐ59, em
ƉĂƚĞŶƚĞǀŝŽůĂĕĆŽĂŽƉƌŝŶĐşƉŝŽƉĂƌĐŽŶĚŝƟŽĐƌĞĚŝƚŽƌƵŵ60. Outra vantagem,
ŝŐƵĂůŵĞŶƚĞĚŽƚĂĚĂĚĞĚƵƉůĂĨĂĐĞ͕ĠĂĂůĞŐĂĕĆŽĚĞƋƵĞŽƐŝƐƚĞŵĂƚĞƌƌŝƚŽƌŝĂ-
ůŝƐƚĂĐŽŶĨĞƌĞƉƌŽƚĞĕĆŽĂŽƐĐƌĞĚŽƌĞƐůŽĐĂŝƐ͕ƉŽƌĞǀŝƚĂƌŚĂďŝůŝƚĂĕƁĞƐĞŵƉƌŽ-
ĐĞƐƐŽƐĞƐƚƌĂŶŐĞŝƌŽƐ͕ŐĂƐƚŽƐĞŵŽƵƚƌĂƐŵŽĞĚĂƐĞŽŽďƐƚĄĐƵůŽĚĂƐůşŶŐƵĂƐ
estrangeiras61. Novamente, poder-se-ia argumentar que tal situação con-
ϱϴdhE'͕&ƌĞĚĞƌŝĐŬ͘Η^ŬĞƉƟĐŝƐŵďŽƵƚhŶŝǀĞƌƐĂůŝƐŵ͘͘͘Η͕Ɖ͘ϭϰ͘
ϱϵd/hZ/K͕ĂƌŵĞŶ͘ΗĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ͘͘͘Η͕Ɖ͘ϮϬϮ͘
ϲϬ͞ĐƌşƟĐĂƋƵĞŽĨĞƌĞĐĞŵŽƐŽƉŽƐŝƚŽƌĞƐĂŽƐŝƐƚĞŵĂĚĂƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞĠƋƵĞĞƐƚĂďĞůĞĐĞĞůĂƵŵƚƌĂƚĂŵĞŶƚŽĚĞƐŝŐƵĂů
ĂŽƐĐƌĞĚŽƌĞƐ͕ƋƵĂŶĚŽƚŽĚŽŽƉĂƚƌŝŵƀŶŝŽĚŽĨĂůŝĚŽĐŽŶƐƟƚƵŝŐĂƌĂŶƟĂĐŽŵƵŵĚŽƐĐƌĞĚŽƌĞƐ͕ƐĞŵĚŝĨĞƌĞŶĐŝĄͲůŽƐĞŶƚƌĞ
ŶĂĐŝŽŶĂŝƐĞĞƐƚƌĂŶŐĞŝƌŽƐ͕͘ƉŽƌƚĂŶƚŽ͕ƐŝƐƚĞŵĂƋƵĞĨĂĐŝůŝƚĂĂĨƌĂƵĚĞ͕ƉĞƌŵŝƟŶĚŽ͕ƉŽƌĞǆĞŵƉůŽ͕ƋƵĞƵŵĐŽŵĞƌĐŝĂŶƚĞ
ĨĂůŝĚŽŶŽZŝŽĚĞ:ĂŶĞŝƌŽĐŽŶƟŶƵĞĂŶĞŐŽĐŝĂƌĞŵWĂƌŝƐ͕ƐĞŵƐĞƉƌĞŽĐƵƉĂƌĐŽŵŽƐĐƌĞĚŽƌĞƐƋƵĞĂƋƵŝĮĐĂƌĂŵĞĂŽƐ
ƋƵĂŝƐƉƌĞũƵĚŝĐŽƵ͘͟>Z͕:ŽǌĠĂŶĚŝĚŽ^ĂŵƉĂŝŽĚĞ͘Manual.... p. 330.
ϲϭKũƵŝǌĨĞĚĞƌĂůĂŵĞƌŝĐĂŶŽ^ĂŵƵĞů>͘ƵīŽƌĚ͕ĞŵĂƌƟŐŽ͕ũĄĐŝƚĂĚŽĂŶƚĞƌŝŽƌŵĞŶƚĞ͕ƉƌŽĚƵǌŝĚŽĞŵƌĞƐƉŽƐƚĂĂŽƉƌŽ-
ĨĞƐƐŽƌ>ǇŶŶD͘>ŽWƵĐŬŝ͕ůŝƐƚĂĂƐĨƌĂƋƵĞǌĂƐĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ĂƉŽŶƚĂŶĚŽĞǆĂƚĂŵĞŶƚĞĂƋƵĞƐƚĆŽĚŽĞŶĐĂƌĞĐŝŵĞŶƚŽ͗
͞ƌŝĞŇǇ͕ ƚŚĞ ĚĞĨĞĐƚƐ ŽĨ ƚĞƌƌŝƚŽƌŝĂůŝƐŵ ĂƌĞ ĂƐ ĨŽůůŽǁƐ͘ &ŝƌƐƚ͕ ƚŚĞ ďĂŶŬƌƵƉƚĐǇ ĐŽƐƚƐ ĨŽƌ ĂŶ ŝŶƚĞƌŶĂƟŽŶĂů ďƵƐŝŶĞƐƐ ĂƌĞ
ĞŶŽƌŵŽƵƐůǇŵƵůƟƉůŝĞĚďǇƚŚĞŶĞĐĞƐƐŝƚǇŽĨĂƉĂƌĂůůĞůŝŶƐŽůǀĞŶĐǇĐĂƐĞŝŶĞĂĐŚĐŽƵŶƚƌǇǁŚĞƌĞĂƐƐĞƚƐĂƌĞůŽĐĂƚĞĚ͘ĂĐŚ
ũƵƌŝƐĚŝĐƟŽŶƌĞƋƵŝƌĞƐƐĞƉĂƌĂƚĞĂĚŵŝŶŝƐƚƌĂƟŽŶ͕ƐĞƉĂƌĂƚĞĮůŝŶŐĂŶĚĞǀĂůƵĂƟŽŶŽĨĐůĂŝŵƐ͕ĂŶĚƐĞƉĂƌĂƚĞƉƌŽƐĞĐƵƟŽŶŽĨ
ƌĞůĞǀĂŶƚůŝƟŐĂƟŽŶ͘^ĞĐŽŶĚ͕ƌĞŽƌŐĂŶŝǌĂƟŽŶŝƐŵƵĐŚŵŽƌĞĚŝĸĐƵůƚƚŽĂĐŚŝĞǀĞŝŶĂƚĞƌƌŝƚŽƌŝĂůŝƐƚƌĞŐŝŵĞďĞĐĂƵƐĞŝƚĚĞ-

ĨĞƌĞƚƌĂƚĂŵĞŶƚŽĚĞƐŝŐƵĂůĂŽƐĐƌĞĚŽƌĞƐ͕ŽƋƵĞǀŝŽůĂƌŝĂŽƐƉƌŝŶĐşƉŝŽƐďĄƐŝĐŽƐ
ĚŽĚŝƌĞŝƚŽĨĂůŝŵĞŶƚĂƌďƌĂƐŝůĞŝƌŽĞŵƵŶĚŝĂů͘:ĞĂŶͲWŚŝůŝƉƉĞDĂƐůŝŶƚƌĂǌ͕Ğŵ
ƐƵĂůŝĕĆŽ͕ŵĂŝƐĂůŐƵŵĂƐĨƌĂƋƵĞǌĂƐĚĞƐƐĞƐŝƐƚĞŵĂĞĞůƵĐŝĚĂĂƐĐŽŶƐĞƋƵġŶ-
ĐŝĂƐĞĐŽŶƀŵŝĐĂƐĚŽƚƌĂƚĂŵĞŶƚŽĚĞƐŝŐƵĂůĚĞĐƌĞĚŽƌĞƐ͗
ΗdŚĞƌĞƐƵůƟŶŐƉŝĞĐĞŵĞĂůĚŝƐŵĞŵďĞƌŵĞŶƚŽĨƚŚĞĚĞďƚŽƌ͛ƐĂƐ-
ƐĞƚƐŝƐƐƵƌĞƚŽŝŶĚƵĐĞĂůĂĐŬŽĨĞƋƵĂůŝƚǇŝŶƚƌĞĂƚŵĞŶƚŽĨƚŚĞ
ĐƌĞĚŝƚŽƌƐ͕ŽƌĞǀĞŶƐƉŽůŝĂƟŽŶŽĨƐŽŵĞŽĨƚŚĞĨŽƌĞŝŐŶĐƌĞĚŝƚŽƌƐ͘
dĞƌƌŝƚŽƌŝĂůŝƐŵĂůƐŽƉƌŽǀŽŬĞƐex ante ƐƚƌĂƚĞŐŝĐƚŚŝŶŬŝŶŐŝŶƚŚĞ
ĐƌĞĂƟŽŶŽĨƚŚĞĞŶƟƚǇ͕ĂƐĨŽƌĞǆĂŵƉůĞĚĞďƚŽƌƐǁŝůůŝŶĐŽƌƉŽƌĂƚĞ
ƚŚĞŝƌĐŽŵƉĂŶŝĞƐŵŽƌĞǁŝůůŝŶŐůǇŝŶĐŽƵŶƚƌŝĞƐƵŶĨƌŝĞŶĚůǇƚŽĐƌĞ-
ĚŝƚŽƌƐďĂƐŝŶŐƚŚĞŝƌĐůĂŝŵƐŽŶĂůůĞŐĂƟŽŶƐŽĨƚŽƌƚ͘dŚŝƐƉŚĞŶŽ-
ŵĞŶŽŶŝƐŽŌĞŶƌĞĨĞƌƌĞĚƚŽĂƐ͞ĨŽƌƵŵƐŚŽƉƉŝŶŐ͟΀͙΁͘&ŝŶĂůůǇ͕
ƚŚĞƉƌĞĨĞƌĞŶĐĞŐŝǀĞŶƚŽĚŽŵĞƐƟĐĐƌĞĚŝƚŽƌƐďǇƚĞƌƌŝƚŽƌŝĂůŝƐŵ
ƌĞŐŝŵĞƐĐƌĞĂƚĞƐĂĚŝƐƚŽƌƟŽŶŝŶƚŚĞĞĸĐŝĞŶĐǇŽĨƚŚĞŝŶƚĞƌŶĂ-
ƟŽŶĂůƐĞƫŶŐĨŽƌďĂŶŬƌƵƉƚĐǇƉƌŽĐĞĞĚŝŶŐƐ͘/ŶĚĞĞĚ͕ŝĨĚŽŵĞƐ-
ƟĐĐƌĞĚŝƚŽƌƐŚĂǀĞĂŚŝŐŚĞƌĐŚĂŶĐĞŽĨďĞŝŶŐƉĂŝĚ͕ƚŚĞǇǁŝůůƚŚĞ-
ƌĞĨŽƌĞŽīĞƌůŽǁĞƌŝŶƚĞƌĞƐƚƌĂƚĞƐŽŶƚŚĞůŽĂŶƐŽĨƚŚĞĮŶĂŶĐŝĂů
ŽƉĞƌĂƟŽŶƐƚŚĞǇƉƌŽƉŽƐĞ͘ŝƐƚŽƌƟŽŶǁŝůůƌĞƐƵůƚĂƐĚĞďƚŽƌƐĂƌĞ
ŵŽƟǀĂƚĞĚƚŽƉƌĞĨĞƌĂďůǇŽƌŐĂŶŝǌĞƚŚĞŝƌĂĐƟǀŝƟĞƐŝŶƚĞƌƌŝƚŽƌŝĂ-
ůŝƐŵƌĞŐŝŵĞƐǁŚŝĐŚĂƌĞĨĂǀŽƌĂďůĞĨŽƌƚŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨƚŚĞ
ĐŽŵƉĂŶǇďƵƚŶŽƚĨŽƌŝƚƐůŝƋƵŝĚĂƟŽŶ͘Η62
ŽŶĨŽƌŵĞ ƐĞ ǀġ͕ Ž ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ ĂůĠŵ ĚĞ ŝŐƵĂůŵĞŶƚĞ ƉŽƐƐŝ-

ďŝůŝƚĂƌ Ă ŽĐŽƌƌġŶĐŝĂ ĚŽ forum shopping, gera, ainda, o risco do encare-
ĐŝŵĞŶƚŽĚĞĐƌĠĚŝƚŽ͕ĂĮŶĂůĂƐŝŶƐƟƚƵŝĕƁĞƐďĂŶĐĄƌŝĂƐĞŵďƵƟƌĆŽŶŽƐũƵƌŽƐ
ŽĐĄůĐƵůŽĚŽƐƌŝƐĐŽƐĚĞŶĆŽƌĞĐĞďĞƌƐĞƵĐƌĠĚŝƚŽ͘^ĂůŝĞŶƚĞͲƐĞ͕ĂŝŶĚĂ͕ĚŽƵ-
trina que advoga que o territorialismoŶĆŽĞƐƚĄĞŵĐŽŶƐŽŶąŶĐŝĂĐŽŵŽ
ĂƚƵĂůŝŶƚĞŶƚŽĐŽŽƉĞƌĂƚŝǀŽĚŽŚŽĚŝĞƌŶŽĐĞŶĄƌŝŽŐůŽďĂůŝǌĂĚŽ͘ŽůŝŵŝƚĂƌŽƐ
efeitos de decisão apenas ao âmbito territorial e levar a uma pluralidade
ĚĞƉƌŽĐĞƐƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂ͕ŽƐŝƐƚĞŵĂterritorialista opta, segundo essa
ĐƌĞĂƐĞƐůŝƋƵŝĚĂƟŽŶǀĂůƵĞƐĂŶĚŵĂŬĞƐĐŽŽƌĚŝŶĂƟŽŶŽĨĐĂƐĞƐĞǆƚƌĞŵĞůǇĐŽŵƉůĞǆ͘dŚŝƌĚ͕ĐŽŶŇŝĐƚƐďĞƚǁĞĞŶũƵƌŝƐĚŝĐƟŽŶƐ
ĂŶĚĐŽƵƌƚƐĐĂŶĞĂƐŝůǇĚĞǀĞůŽƉ͘&ŽƵƌƚŚ͕ĐƌĞĚŝƚŽƌƐĐĂŶŶŽƚŬŶŽǁŝŶĂĚǀĂŶĐĞǁŚĞƌĞƚŚĞĚĞďƚŽƌ͛ƐĂƐƐĞƚƐǁŝůůďĞůŽĐĂƚĞĚ
ǁŚĞŶďĂŶŬƌƵƉƚĐǇŝŶƚĞƌǀĞŶĞƐ͕ǁŚŝĐŚĐĂƵƐĞƐĂůĞƐƐĞĸĐŝĞŶƚĞǆĂŶƚĞĂůůŽĐĂƟŽŶŽĨĐĂƉŝƚĂů͘&ŝŌŚ͕ĚŝƐƚƌŝďƵƟŽŶƌĞƐƵůƚƐĂƌĞ
ďŽƚŚƵŶĞǀĞŶ͕ǀŝŽůĂƟŶŐƚŚĞďĂŶŬƌƵƉƚĐǇƉƌŝŶĐŝƉůĞŽĨƚƌĞĂƟŶŐƚŚĞĐŽƐƚŽĨĐĂƉŝƚĂůďĞĐĂƵƐĞŽĨƚŚĞƵŶĐĞƌƚĂŝŶŽƵƚĐŽŵĞ
ŝĨŝŶƐŽůǀĞŶĐǇƐƵƉĞƌǀĞŶĞƐ͘&ŝŶĂůůǇ͕ƵŶĚĞƌƚĞƌƌŝƚŽƌŝĂůŝƐŵ͕ďŽƚŚĚĞďƚŽƌĂŶĚŝŶĚŝǀŝĚƵĂůĐƌĞĚŝƚŽƌƐĐĂŶĞŶŐĂŐĞŝŶƐƚƌĂƚĞŐŝĐ
ďĞŚĂǀŝŽƌƚŽĂĚǀĂŶĐĞƚŚĞŝƌƉƌŝǀĂƚĞŝŶƚĞƌĞƐƚĂƚƚŚĞĞǆƉĞŶƐĞŽĨƚŚĞŐĞŶĞƌĂůŝŶƚĞƌĞƐƚƐŽĨĐƌĞĚŝƚŽƌƐ͘͟h&&KZ͕^ĂŵƵĞů>͘
Η'ůŽďĂůsĞŶƵĞ͙Η, p. 114.
ϲϮ D^>/E͕ :ĞĂŶͲWŚŝůŝƉƉĞ͘ dŚĞ īĞĐƟǀĞŶĞƐƐ ŽĨ ƵƌŽƉĞĂŶ ƌŽƐƐͲŽƌĚĞƌ /ŶƐŽůǀĞŶĐǇ ZĞŐƵůĂƟŽŶ ĂƐ Ă dŽŽů ŐĂŝŶƐƚ
Forum-Shopping͘;ϮϬϬϵͿ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐƚƌĂĐƚсϭϱϯϵϯϵϭх͘ĐĞƐƐŽĞŵ͗ϭϳ͘Ϭϯ͘ϮϬϭϲ͕Ɖ͘ϱ͘

visão, por um paroquialismo que não possui mais espaço atualmente, pre-
ũƵĚŝĐĂŶĚŽƐƵĂƉƌĞǀŝƐŝďŝůŝĚĂĚĞ63ĞĞĮĐĄĐŝĂ͗
Η>ĞƉƌŽďůğŵĞĚĞĐĞƩĞĂƉƉƌŽĂĐŚ΀ůĞƉƌŝŶĐŝƉĞĚĞƚĞƌƌŝƚŽƌŝĂůŝƚĠ΁͕
ĐŽŵŵĞůĞƐŽƵůŝŐŶĞăũƵƐƚĞƟƚƌĞůĞũƵŐĞ&ĂƌůĞǇ͕ƌĠƐŝĚĞĚĂŶƐla
ŵƵůƟƉůŝĐĂƟŽŶ ĚĞƐ ƉƌŽĐğĚƵƌĞƐ ĐŽůůĞĐƟǀĞƐ ĂŝŶƐŝ ƋƵĞ ĚĂŶƐ ƵŶ
ƚƌĂƟƚĞŵĞŶƚ ŝŶĠŐĂůŝƚĂŝƌĞ ĚĞƐ ĐƌĠĂŶĐŝĞƌƐ ƐĞůŽŶ ůĞ ĚƌŽŝƚ ĂƉƉůŝ-
ĐĂďůĞŵĂŝƐĂƵƐƐŝƐĞůŽŶůĂǀĂůĞƵƌĚĞƐďŝĞŶƐĚĞůĂƐŽĐŝƚĠƚĠŵŝƐĞ
ĞŶůŝƋƵŝĚĂƟŽŶƐŝƚƵĠƐĚĂŶƐĐŚĂƋƵĞƉĂǇƐ͘Η
/ŶĚƵďŝƚĂďůĞŵĞŶƚ͕ ůĞ ƉƌŝŶĐŝƉĞ ĚĞ ƚĞƌƌŝƚŽƌŝĂůŝƚĠ ĞƐƚ ŝŶĐŽŵƉĂ-
ƟďůĞ ĂǀĞĐ ƵŶĞ ŝĚĠĞ ĚĞ ĐŽŽƉĞƌĄƟŽŶ ũƵĚŝĐŝĂŝƌĞ ĚĂŶƐ ƵŶ ĐŽŶ-
ƚĞǆƚĞĚĞůŝƋƵŝĚĂƟŽŶŝŶƚĞƌŶĂƟŽŶĂůĞ͘΀͘͘͘΁hŶĞĂƉƉƌŽĂĐŚůŽĐĂůĞ
ǀŽŝƌĞƌĠŐŝŽŶĂůĞĚĞůĂĐŽŽƉĠƌĂƟŽŶũƵĚŝĐŝĂŝƌĞůŝŵŝƚĞů͛ĞĸĐĂĐŝƚĠ
ĞƚůĂƉƌĞǀŝƐŝďŝůŝƚĠĚ͛ƵŶĞƉƌŽĐğĚƵƌĞĐŽůůĞĐƟǀĞŝŶƚĞƌŶĂƟŽŶĂůĞă
ĠĐŚĞůůĞƉůĂŶĠƚĂŝƌĞ͘Η64
WŽƌĮŵ͕WĂƵůŽ&ĞƌŶĂŶĚŽĂŵƉĂŶĂ&ŝůŚŽĞůƵĐŝĚĂƋƵĞŽƐũƵƌŝƐƚĂƐƋƵĞ
ƐĞƉŽƐŝĐŝŽŶĂƌĂŵĞŵƉƌŽůĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͞ŚŝƐƚŽƌŝĐĂŵĞŶƚĞĚĞĨĞŶĚĞƌĂŵ
ŽƐŝƐƚĞŵĂĂůĞŐĂŶĚŽƋƵĞĂƐŶŽƌŵĂƐĨĂůŝŵĞŶƚĂƌĞƐĚŝǌŝĂŵƌĞƐƉĞŝƚŽĂŽĐƌĠĚŝƚŽ
ƉƷďůŝĐŽ Ğ ƟŶŚĂŵ ŶĂƚƵƌĞǌĂ ƉƌŽĐĞĚŝŵĞŶƚĂů͕ ĚĂş ƐĞƌĞŵ ĚĞ ŽƌĚĞŵ ƉƷďůŝĐĂ
ƚĞƌƌŝƚŽƌŝĂů͟65͘ĞƐƐĞŵŽĚŽ͕ĞƐƐĞƌĂĐŝŽĐşŶŝŽĐŽŶĚƵǌŶĞĐĞƐƐĂƌŝĂŵĞŶƚĞăĂƉůŝ-
cação da lex fori ĞăůŝŵŝƚĂĕĆŽĚŽƐĞĨĞŝƚŽƐĚĂĚĞĐŝƐĆŽĂŽƚĞƌƌŝƚſƌŝŽ;ĞďĞŶƐͿ
ĚĞƐƵĂũƵƌŝƐĚŝĕĆŽ͕ŐĞƌĂŶĚŽ͕ĐŽŵŽĐŽŶƐĞƋƵġŶĐŝĂŶĂƚƵƌĂů͕ƵŵĂƉůƵƌĂůŝĚĂĚĞ
de procedimentos de inƐŽůǀġŶĐŝĂĞƐƉĂůŚĂĚŽƐĂŽƌĞĚŽƌĚŽŐůŽďŽŶĂƐŚŝƉſ-
teses transnacionais.
ϲϯ^ĂůŝĞŶƚĞͲƐĞ͕ŶŽǀĂŵĞŶƚĞ͕ƋƵĞĂƉƌĞǀŝƐŝďŝůŝĚĂĚĞĞƐĞŐƵƌĂŶĕĂũƵƌşĚŝĐĂƐĆŽĞƐƐĞŶĐŝĂŝƐƉĂƌĂŽƐƵĐĞƐƐŽĚĞƵŵĂƌĞĐƵƉĞ-
ƌĂĕĆŽũƵĚŝĐŝĂůŽƵĨĂůġŶĐŝĂ͕ĐŽŵŽďĞŵĂƐƐĞǀĞƌĂ&ĞƌŶĂŶĚŽ>ŽĐĂƚĞůůŝ͗͞KŶƚŚĞŽƚŚĞƌŚĂŶĚ͕ĨƌŽŵĂůĞŶĚĞƌ͛ƐƉĞƌƐƉĞĐƟǀĞ͕
ƉƌĞĚŝĐƚĂďŝůŝƚǇŝŶůĂǁŝƐĂůƐŽĐƌƵĐŝĂů͘/ŶƚŚĞĐĂƐĞŽĨďƵƐŝŶĞƐƐĐƌŝƐŝƐ͕ĨŽƌĞǆĂŵƉůĞ͕ƚŚŝƐƉƌĞĚŝĐƚĂďŝůŝƚǇĐĂŶƉƌŽǀŝĚĞďĞƩĞƌ
ŝŶĨŽƌŵĂƟŽŶĨŽƌƚŚĞŵĂŶĂŐĞƌƐŝŶĚĞĐŝĚŝŶŐŵŽƌĞƉƌƵĚĞŶƚůǇǁŚŝĐŚŽƉƟŽŶƚŽĐŚŽŽƐĞ͕ǁŚĞƚŚĞƌĂƌĞƐƚƌƵĐƚƵƌŝŶŐƉůĂŶŽĨ
ƚŚĞůŝƋƵŝĚĂƟŽŶŽĨĐŽŵƉĂŶǇ͘/ŶŽƚŚĞƌǁŽƌĚƐ͕ƉƌĞĚŝĐƚĂďŝůŝƚǇǁŽƵůĚŐŝǀĞƚŚĞŵĂďĞƩĞƌƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨƚŚĞůĞŐĂůĂŶĚ
ĞĐŽŶŽŵŝĐĐŽŶƐĞƋƵĞŶĐĞƐŽĨĞĂĐŚĞǆŝƚƉůĂŶĨŽƌƚŚĞĐŽŵƉĂŶǇ͕ĂůůŽǁŝŶŐƚŚĞŵĂŶĂŐĞƌƐƚŽĚĞĐŝĚĞŽŶƚŚĞŵŽƐƚĂƉƉƌŽƉƌŝĂ-
ƚĞĂĐƟŽŶƉůĂŶĨŽƌƚŚĞĨƌŝŵĂŶĚƚŚĞĐƌĞĚŝƚŽƌƐ͛ŝŶƚĞƌĞƐƚƐ͘͟>Kd>>/͕&ĞƌŶĂŶĚŽ͘Η/ŶƚĞƌŶĂƟŽŶĂůdƌĂĚĞĂŶĚ/ŶƐŽůǀĞŶĐǇ
>Ăǁ͗ /Ɛ ƚŚĞ hE/dZ> DŽĚĞů >Ăǁ ŽŶ ƌŽƐƐͲŽƌĚĞƌ /ŶƐŽůǀĞŶĐǇ ĂŶ ŶƐǁĞƌ ĨŽƌ ƌĂǌŝů͍ ;Ŷ ĐŽŶŽŵŝĐ ŶĂůǇƐŝƐ ŽĨ /ƚƐ
ĞŶĞĮƚƐŽŶ/ŶƚĞƌŶĂƟŽŶĂůdƌĂĚĞͿΗ͘ Law and Business Review of the Americas͘s͘ϭϰ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬǁŽƌŬƐ͘
ďĞƉƌĞƐƐ͘ĐŽŵͬĨĞƌŶĂŶĚŽůŽĐĂƚĞůůŝͬϭͬх, p. 323. Acesso em 21.03.2016.
ϲϰ^&͕:ƵůŝĂ͘ΗŽŽƉĠƌĂƟŽŶũƵĚŝĐŝĂŝƌĞĞƚĨĂŝůůŝƚĞŝŶƚĞƌŶĂƟŽŶĂůĞ͗ůĞƐůŝŵŝƚĞƐĚƵƉƌŝŶĐŝƉĞĚĞĐŽŵŝƚǇĚĂŶƐůĞƚƌĂŝƚĞŵĞŶƚ
ŝŶƚĞƌŶĂƟŽŶĂůĚĞƐĞŶƚƌĞƉƌŝƐĞƐĞŶĚŝĮĐƵůƚĠƐŝůůƵƐƚƌĠĞƐƉĂƌů͛ĂƌƌġƚĂŶĂĚŝĞŶZĞDĂƚůĂĐŬ/ŶĐ͘͘ΗŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬ
ďůŽŐƐ͘ƵͲƉĂƌŝƐϭϬ͘ĨƌͬĐŽŶƚĞŶƚͬĐŽŽƉйϯйϵƌĂƟŽŶͲũƵĚŝĐŝĂŝƌĞͲĞƚͲĨĂŝůůŝƚĞͲŝŶƚĞƌŶĂƟŽŶĂůĞͲůĞƐͲůŝŵŝƚĞƐͲĚƵͲƉƌŝŶĐŝƉĞͲĚĞͲĐŽŵŝ-
ƚǇͲĚĂŶƐͲůĞͲх͕Ɖ͘ϯ͘ĐĞƐƐŽĞŵ͗Ϭϱ͘Ϭϱ͘ϮϬϭϲ͘
ϲϱDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϴϵ͘

5. OS SISTEMAS MISTOS
KƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐĨƌŽŶƚĞŝƌŝĕĂĂƚĠĂŐŽƌĂĐŝƚĂĚŽƐĨŽƌĂŵ
ĞǆĂŵŝŶĂĚŽƐ Ğŵ ƐĞƵƐ ŵŽĚĞůŽƐ ƉƵƌŽƐ͘ EĞƐƐĞ ĞƐƚĂĚŽ͕ ĐŽŵŽ ƐĞ ǀŝƵ͕ ĂŵďŽƐ
ĂƉƌĞƐĞŶƚĂŵƉĞƌƟŶĞŶƚĞƐǀĂŶƚĂŐĞŶƐĞĚĞƐǀĂŶƚĂŐĞŶƐ66. Ocorre que, entre os
ĚŽŝƐĞǆƚƌĞŵŽƐ͕ŚĄǀĞƌƐƁĞƐŵĞƐĐůĂĚĂƐ͕ƋƵĞĂůŵĞũĂŵƉƌĞƐĞƌǀĂƌŽƐĞůĞŵĞŶƚŽƐ
ƉŽƐŝƟǀŽƐĞĚĞƐĐĂƌƚĂƌŽƐŶĞŐĂƟǀŽƐĚĞĐĂĚĂƉŽŶƚĂĐŽŶĐĞďŝĚĂŝƐŽůĂĚĂŵĞŶƚĞ͘
ŽŵŽďĞŵƐĂůŝĞŶƚĂWĂƵůŽ&ĞƌŶĂŶĚŽĂŵƉĂŶĂ&ŝůŚŽ͕ĚĞƐĚĞŽƐĠĐƵůŽ
y/yũĄƐĞǀŝƐůƵŵďƌĂvam sementes teóricas dos modelos mistos, momento
ĞŵƋƵĞŽŚŽůĂŶĚġƐ:ŽƐĞƉŚƵƐ:ŝƩĂ͕ƉŽƌĞǆĞŵƉůŽ͕ĂŽĂŶĂůŝƐĂƌŽĂƐƐƵŶƚŽĚĂ
ŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂůĞŵƐƵĂŽďƌĂ67͕ďƵƐĐŽƵŵŝƟŐĂƌĂƐŝĚĞŝĂƐƵŶŝǀĞƌ-
ƐĂůŝƐƚĂƐăƐƋƵĂŝƐƐĞĮůŝĂǀĂĞŵĂƚĞŶĕĆŽĂŽƐŝŵƉĞƌĂƟǀŽƐƉƌĄƟĐŽƐƋƵĞůĞǀĂ-
ǀĂŵăƉƌĞǀĂůġŶĐŝĂĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͗
ΗƐƐŝŵ͕ĚĞƐĚĞŽƐĠĐƵůŽy/y͕ĂƵƚŽƌĞƐƉƌŽĐƵƌĂƌĂŵĞƐƚĂďĞůĞĐĞƌ
ŵŽĚĞůŽƐ ƚĞſƌŝĐŽƐ ŵŝƐƚŽƐ͕ ƉƌŽƉŽŶĚŽ ĂůŐƵŵĂ ĨŽƌŵĂ ĚĞ ͞ƵŶŝ-
ǀĞƌƐĂůŝĚĂĚĞĂƚĞŶƵĂĚĂ͟ŽƵ͞ƚĞƌƌŝƚŽƌŝĂůŝĚĂĚĞŇĞǆşǀĞů͘͟:ŝƩĂ͕ƉŽƌ
ĞǆĞŵƉůŽ͕ ƐƵƐƚĞŶƚĂŶĚŽ ƋƵĞ Ă ƵŶŝĚĂĚĞ ĚŽ ƉĂƚƌŝŵƀŶŝŽ ƉŽĚĞ-
ƌŝĂ ƐĞƌ ĐŽŵƉĂơǀĞů ĐŽŵ Ă ƉůƵƌĂůŝĚĂĚĞ ĚĞ ƉƌŽĐĞƐƐŽƐ͕ ƉƌŽƉƀƐ
Ƶŵ ŵŽĚĞůŽ ďĂƐĞĂĚŽ Ğŵ ĨĂůġŶĐŝĂƐ ƐĞĐƵŶĚĄƌŝĂƐ ;faillites se-
condairesͿ͕ ƉƌŽĐĞƐƐŽƐ ƚĞƌƌŝƚŽƌŝĂŝƐ ƋƵĞ ĨƵŶĐŝŽŶĂƌŝĂŵ ĐŽŵŽ
ƐĂƚĠůŝƚĞƐ ƋƵĞ ŐƌĂǀŝƚĂƌŝĂŵ Ğŵ ƚŽƌŶŽ ĚŽ ƉƌŽĐĞƐƐŽ ĨĂůŝŵĞŶƚĂƌ
ƉƌŝŶĐŝƉĂů͕ ĐŽŵ Ž ŽďũĞƟǀŽ ĚĞ ĂƵǆŝůŝĄͲůŽ Ğ ĚĞ ĨĂĐŝůŝƚĂƌ Ă ůŝƋƵŝ-
ĚĂĕĆŽ ĚŽ ƉĂƚƌŝŵƀŶŝŽ ĚŽ ĚĞǀĞĚŽƌ͘ EĂ ĐŽŶĐĞƉĕĆŽ ĚĞ :ŝƩĂ͕ Ž
ƉƌŽĐĞƐƐŽĨĂůŝŵĞŶƚĂƌŐĞƌĂůƐĞƌŝĂĂďĞƌƚŽŶŽƉĂşƐŽŶĚĞĞƐƟǀĞƐƐĞ
ƉƌĞƐĞŶƚĞ Ž ͞ĐĞŶƚƌŽ ĚĞ ǀŝĚĂ͟ ĚŽ ĚĞǀĞĚŽƌ͖ Ğ ŽƐ ƐĞĐƵŶĚĄƌŝŽƐ͕
ŶŽƐ ƉĂşƐĞƐ ŽŶĚĞ ŚŽƵǀĞƐƐĞ ĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐ ƐĞĐƵŶĚĄƌŝŽƐ
(établissements secondaires)͘Η68
ŽŵŽƐĞǀġ͕ŽĐůĄƐƐŝĐŽũƵƌŝƐƚĂŚŽůĂŶĚġƐƚĞŶƚŽƵŵĞƐĐůĂƌŽƐĞůĞŵĞŶ-
tos de ambos os sistemas, mediante a manutenção da pluralidade de
ƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂƌĞƐ͕ĞŵƌĞƐƉĞŝƚŽĂŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ƉƌĞǀĞŶĚŽ͕ƉŽƌĠŵ͕
ƉƌŽĐĞĚŝŵĞŶƚŽƐƐĞĐƵŶĚĄƌŝŽƐ͕ƋƵĞ͕ĂƚƵĂŶĚŽĞŵſƌďŝƚĂĂŽƉƌŝŵĞŝƌŽ͕ŽĂƵǆŝ-
ϲϲ͞΀h΁ŶŝǀĞƌƐĂůŝƐŵĂŶĚƚĞƌƌŝƚŽƌŝĂůŝƐŵƐŚŽƵůĚ ďĞƌĞŐĂƌĚĞĚĂƐƚŚĞŽƉƉŽƐŝƚĞĂŶĚĞǆƚƌĞŵĞĞŶĚƐŽĨĂƐƉĞĐƚƌƵŵ͘WƵƌĞ
ƵŶŝǀĞƌƐĂůŝƐŵŝƐƉƌĂĐƟĐĂůůǇƵŶǁŽƌŬĂďůĞ͕ĂŶĚĞǆƚƌĞŵĞƚĞƌƌŝƚŽƌŝĂůŝƐŵŚĂƐƐĞƌŝŽƵƐĚĞƚƌŝŵĞŶƚĂůĞīĞĐƚƐĨŽƌƚŚĞŝŶƚĞƌĞƐƚƐŽĨ
ŝŶƚĞƌŶĂƟŽŶĂůďƵƐŝŶĞƐƐ͘͟'ZZ/K͕:ŽƐĠD͘ΗEŽdǁŽ^ŶŽǁŇĂŬĞƐƚŚĞ^ĂŵĞ͗dŚĞŝƐƚƌŝďƵƟŽŶĂůYƵĞƐƟŽŶŝŶ/ŶƚĞƌŶĂƟŽ-
ŶĂůĂŶŬƌƵƉƚĐŝĞƐΗ. dĞǆĂƐ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ:ŽƵƌŶĂů͕ǀ͘ϰϲ͕ϰϱϵ;ϮϬϭϭͿ͕Ɖ͘ϰϳϬ͘
ϲϳ:/dd͕͘:ŽƐĞƉŚƵƐ͘>ĂŽĚŝĮĐĂƟŽŶĚƵƌŽŝƚ/ŶƚĞƌŶĂƟŽŶĂůĚĞůĂ&ĂŝůůŝƚĞ͘>Ğ,ĂǇĞ͗ĞůĞĨĂŶƚĞ&ƌğƌĞƐ͕ϭϴϵϱapud
DWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϵϬ͘
ϲϴDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϵϬ͘

ůŝĂƌŝĂŵŶĂůŝƋƵŝĚĂĕĆŽĚŽƉĂƚƌŝŵƀŶŝŽƚƌĂŶƐĨƌŽŶƚĞŝƌŝçoĚŽĚĞǀĞĚŽƌ;ĞůĞŵĞŶ-
ƚŽƐĚŽƵŶŝǀĞƌƐĂůŝƐŵŽͿ͘ƐƐĞƚƌĂĕŽĐŽŽƉĞƌĂƟǀŽĞŶƚƌĞŽƐƐƚĂĚŽƐĞŶǀŽůǀŝĚŽƐ
ŶŽƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂůŝƌĄůĂƐƚƌĞĂƌŽƐŵŽĚĞůŽƐƚĞſƌŝĐŽƐ
ŵŝƐƚŽƐŵĂŝƐƌĞůĞǀĂŶƚĞƐ͕ĞůĂďŽƌĂĚŽƐƉĞůŽƐĚŝǀĞƌƐŽƐũƵƌŝƐƚĂƐŶĂƚĞŶƚĂƟǀĂĚĞ
ĂƟŶŐŝƌƵŵƐŝƐƚĞŵĂƋƵĞĂƚĞŶĚĂĂƚŽĚĂƐĂƐĚĞŵĂŶĚĂƐ͗
ΗdŚĞĐŽŵŵŽŶƉŽŝŶƚŽĨĂůůŵŽĚĞƌŶƐŽůƵƟŽŶƐƚŽƚŚĞƉƌŽďůĞŵ
ŽĨŝŶƚĞƌŶĂƟŽŶĂůďĂŶŬƌƵƉƚĐǇŝƐƚŚĞĨŽĐƵƐŽŶĐŽŽƉĞƌĂƟŽŶ͘/Ŷ-
ƚĞƌŶĂƟŽŶĂů ĐŽŽƉĞƌĂƟŽŶ ŝƐ ĞƐƐĞŶƟĂů ƚŽ ĂĐŚŝĞǀĞ ƚŚĞ ĞŶĚƐ ŽĨ
ďĂŶŬƌƵƉƚĐǇ͕ŝŶƐƉŝƚĞŽĨƚŚĞŶƵŵĞƌŽƵƐŽďƐƚĂĐůĞƐ͘
DŽƐƚŽĨƚŚĞƐŽůƵƟŽŶƐǁŝƚŚƉƌĂĐƟĐĂůƌĞůĞǀĂŶĐĞŝŶŝŶƚĞƌŶĂƟŽ-
ŶĂů ďĂŶŬƌƵƉƚĐǇ ůĂǁ ůŝĞ ǁŝƚŚŝŶ ƚŚĞ ƐƉĂĐĞ ƐŝƚƵĂƚĞĚ ďĞƚǁĞĞŶ
ƉƵƌĞƚĞƌƌŝƚŽƌŝĂůŝƐŵĂŶĚƉƵƌĞƵŶŝǀĞƌƐĂůŝƐŵ͘Η69
hŵĂƉƌŝŵĞŝƌĂƚĞŽƌŝĂŝŶƚĞƌŵĞĚŝĄƌŝĂĚĞƌĞŶŽŵĞƋƵĞĚĞǀĞƐĞƌĐŝƚĂĚĂ
ŶĞƐƚĞƚƌĂďĂůŚŽĨŽŝĐŽŶĐĞďŝĚĂƉĞůŽƉƌŽĨĞƐƐŽƌŝŶŐůġƐ/ĂŶ&͘&ůĞƚĐŚĞƌ͘KĂƵƚŽƌ
ƌĞĨĞƌŝƵͲƐĞĂƐƵĂĂďŽƌĚĂŐĞŵĚĞŶŽŵŝŶĂŶĚŽͲĂĚĞ͞ƉƌŝŶĐşƉŝŽŝŶƚĞƌŶĂĐŝŽŶĂůŝƐ-
ƚĂ͟;ƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůŝƐƚWƌŝŶĐŝƉůĞͿ͕ƵŵĂǀĞǌƋƵĞĚĞĨĞŶĚŝĂĂŶĞĐĞƐƐŝĚĂĚĞ
ĚĞĐŽůĂďŽƌĂĕĆŽĞŶƚƌĞŽƐƐƚĂĚŽƐƋƵĞƉŽƐƐƵşƐƐĞŵĂůŐƵŵƟƉŽĚĞŝŶƚĞƌĞƐ-
ƐĞ͕ ũƵƌşĚŝĐŽ ŽƵ ĚĞ ŽƵƚƌĂ ŶĂƚƵƌĞǌĂ͕ Ğŵ ĞǀĞŶƚƵĂů ƉƌŽĐĞƐƐŽ ĚĞ ŝŶƐŽůǀġŶĐŝĂ
transfronteiriça70. A proposta mescla elementos do territorialismo e uni-
ǀĞƌƐĂůŝƐŵŽ͕ƌĞƐƉĞŝƚĂŶĚŽĂũƵƌŝƐĚŝĕĆŽŶĂĐŝŽŶĂůĞĂƐŽďĞƌĂŶŝĂĚŽƐƐƚĂĚŽƐ͕
ƉŽƌĠŵĚĞůĞƐĞǆŝŐŝŶĚŽƵŵĐŽŵƉŽƌƚĂŵĞŶƚŽĐŽŽƉĞƌĂƟǀŽƋƵĞůĞǀĂƐƐĞĂƵŵĂ
ĂƚƵĂĕĆŽ ĐŽŶũƵŶƚĂ͕ ƐĞŵĞůŚĂŶƚĞŵĞŶƚĞ Ă ƵŵĂ ƷŶŝĐĂ ĂĚŵŝŶŝƐƚƌĂĕĆŽ ŐůŽďĂů
dos bens do devedor71. A adequação das medidas e dos processos seria
ĂĨĞƌŝĚĂĐŽŶĨŽƌŵĞĂƐĐŝƌĐƵŶƐƚąŶĐŝĂƐĚĞĐĂĚĂĐĂƐŽ͗
ΗdŚĞ/ŶƚĞƌŶĂƟŽŶĂůŝƐƚWƌŝŶĐŝƉůĞŝƐƚŚĞƌĞĨŽƌĞŽŶĞǁŚŝĐŚĂƐƉŝƌĞƐ
ƚŽƌĞĂůŝǌĞ͕ĂƐĨĂŝƚŚĨƵůůǇĂƐŝƐƉƌĂĐƟĐĂďůĞŝŶĂŶǇŐŝǀĞŶĐĂƐĞŽĨ
ŝŶƚĞƌŶĂƟŽŶĂůŝŶƐŽůǀĞŶĐǇ͕ƚŚĞŝĚĞĂůƐŽĨĐŽůůĞĐƟǀŝƚǇ͕ĞƋƵĂůŝƚǇŽĨ
ƚƌĞĂƚŵĞŶƚĨŽƌĂůůĐƌĞĚŝƚŽƌƐ͕ĂŶĚƚŚĞƌĞƐƉĞĐƚĨŽƌƉƌĞǀŝŽƵƐůǇĂĐ-
ϲϵ'ZZ/K͕:ŽƐĠD͘ΗEŽdǁŽ^ŶŽǁŇĂŬĞƐ͘͘͘Η, p. 471.
ϳϬ&>d,Z͕/ĂŶ&͘/ŶƐŽůǀĞŶĐǇ/ŶWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ͗EĂƟŽŶĂůĂŶĚ/ŶƚĞƌŶĂƟŽŶĂůƉƉƌŽĂĐŚĞƐ. 2 ed, 2005,
§1.16 apud t^^>^͖ Žď͖ DZ<>>͕ ƌƵĐĞ ͖͘ </>KZE͕ :ĂƐŽŶ :͘ /ŶƚĞƌŶĂƟŽŶĂů ŽŽƉĞƌĂƟŽŶ ŝŶ ĂŶŬƌƵƉƚĐǇ ĂŶĚ
/ŶƐŽůǀĞŶĐǇDĂƩĞƌƐ:ŽŝŶƚZĞƐĞĂƌĐŚWƌŽũĞĐƚŽĨŵĞƌŝĐĂŶŽůůĞŐĞŽĨĂŶŬƌƵƉƚĐǇĂŶĚ/ŶƚĞƌŶĂƟŽŶĂů/ŶƐŽůǀĞŶĐǇ/ŶƐ-
ƟƚƵƚĞ͘EĞǁzŽƌŬ͗KǆĨŽƌĚhŶŝǀĞƌƐŝƚǇWƌĞƐƐ͕ϮϬϬϵ͕Ɖ͘ϳϬ͘
ϳϭ͞ŝĚĞŝĂƐƵďũĂĐĞŶƚĞĂŽƉƌŝŶĐşƉŝŽŝŶƚĞƌŶĂĐŝŽŶĂůŝƐƚĂĚĞ&ůĞƚĐŚĞƌĠĂĚĞƉƌŽŵŽǀĞƌ͕ĞŵĞƐĐĂůĂŵƵŶĚŝĂů͕ŽƐƉƌŝŶĐşƉŝŽƐ
ƋƵĞƌĞŐĞŵŽƐĐĂƐŽƐĚĞĨĂůġŶĐŝĂĞŵąŵďŝƚŽŶĂĐŝŽŶĂůʹƚĂůĐŽŵŽĂĂďƌĂŶŐġŶĐŝĂĐŽůĞƟǀĂĚĞƉƌŽĐĞƐƐŽƐ͕ŽƚƌĂƚĂŵĞŶƚŽ
ŝŐƵĂůŝƚĄƌŝŽĞŶƚƌĞŽƐĐƌĞĚŽƌĞƐĞŽƌĞƐƉĞŝƚŽĂŽƐĚŝƌĞŝƚŽƐĂĚƋƵŝƌŝĚŽƐ͘͟DWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ
:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϵϬ͘

ƋƵŝƌĞĚƌŝŐŚƚƐ͙΀ŝŶŽƌĚĞƌƚŽ΁ĂĐŚŝĞǀĞƚŚĂƚŽďũĞĐƟǀĞ͕ŇĞǆŝďŝůŝƚǇ
ĂŶĚƉƌĂŐŵĂƟƐŵŵƵƐƚďĞƐƵďƐƟƚƵƚĞĚĨŽƌƚŚĞĚŽŐŵĂƐƐŽďĞ-
ůŽǀĞĚŽĨĨŽƌŵĞƌĂŐĞƐ͘dŚŝƐĞŶƚĂŝůƐĂǀŝƚĂůƌŽůĞĨŽƌƚŚĞũƵĚŐĞƐ
ǁŝƚŚŝŶĞĂĐŚ^ƚĂƚĞĐŽŶĐĞƌŶĞĚ͕ƐŝŶĐĞŝƚŝƐŽŶůǇƚŚƌŽƵŐŚƚŚĞŝƌĂĐ-
ƟǀŝƐŵĂŶĚŝŶŝƟĂƟǀĞƚŚĂƚƚŚĞƐǇƐƚĞŵĐĂŶƌĞƐƉŽŶĚƚŽƚŚĞƉĂƌ-
ƟĐƵůĂƌĐŚĂůůĞŶŐĞƐƉŽƐĞĚďǇƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐŽĨĂůŝǀĞĐĂƐĞΗ͘ 72
WŽƌ ŽƵƚƌŽ ůĂĚŽ͕ Ž ƉƌŽĨĞƐƐŽƌ ŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽ :ĂǇ >ĂǁƌĞŶĐĞ tĞƐƚ-

ďƌŽŽŬ ĨŽŝ ƌĞƐƉŽŶƐĄǀĞů ƉŽƌ ĐƌŝĂƌ Ƶŵ ƐŝƐƚĞŵĂ ŝŶƚĞƌŵĞĚŝĄƌŝŽ ĚĞ ŐƌĂŶĚĞ ŝŶ-
ŇƵġŶĐŝĂ͕ƚĞŶĚŽƌĞĐĞbido atenção mundial. A delimitação de sua teoria se
deu em 199173, sendo progressivamente desenvolvida ao longo do tempo.
KƐŝƐƚĞŵĂƌĞĐĞďĞƵŽŶŽŵĞĚĞƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽ;ŵŽĚŝĮĞĚƵŶŝǀĞƌ-
salismͿ͕ƐĞŶĚŽƉŽƌǀĞǌĞƐƌĞƚƌĂƚĂĚŽƚĂŵďĠŵĐŽŵŽƵŶŝǀĞƌƐĂůŝĚĂĚĞŵĞŶƐƵ-
ƌĂĚĂ;measured universalityͿ͘
^ĞŵĞůŚĂŶƚĞŵĞŶƚĞ ăƐ ŝĚĞŝĂƐ ĚĞ /ĂŶ &ůĞƚĐŚĞƌ͕ Ž ŵŽĚĞůŽ ĚĞ :ĂǇ >Ă-
ǁƌĞŶĐĞtĞƐƚďƌŽŽŬƉƌĞǀġƵŵĂƉůƵƌĂůŝĚĂĚĞĚĞƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂƌĞƐĂŽ
ƌĞĚŽƌĚŽŐůŽďŽ͕ƌĞŐŝĚŽƐƉŽƌĚŝǀĞƌƐĂƐůĞŝƐ͕ƋƵĞĚĞǀĞŵĂƚƵĂƌĐŽŽƉĞƌĂƟǀĂ-
ŵĞŶƚĞ͕ƐĞŵĞůŚĂŶƚĞŵĞŶƚĞĂƵŵŵĞĐĂŶŝƐŵŽƵŶŝǀĞƌƐĂůǀŽůƚĂĚŽƉĂƌĂĚŝƐƚƌŝ-
buir simetricamente os valores neles tratados. Em outros termos, essa
ĂƚƵĂĕĆŽĐŽŽƉĞƌĂƟǀĂƉƌĞĐŝƐĂĂƟŶŐŝƌŽƐŵĞƐŵŽƐƌĞƐƵůƚĂĚŽƐƋƵĞƵŵƷŶŝĐŽ
ƉƌŽĐĞƐƐŽƚƌĂŶƐŶĂĐŝŽŶĂůĂƟŶŐŝƌŝĂ͘KƉƌŽĨĞƐƐŽƌŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽ͕ŶŽĞŶƚĂŶ-
ƚŽ͕ƌĞƐƐĂůƚĂƋƵĞĂŽƉĕĆŽƉĞůŽƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽĚĞǀĞƐĞƌǀŝƌĂƉĞŶĂƐ
ĐŽŵŽƵŵĂŵĞĚŝĚĂĚĞƚƌĂŶƐŝĕĆŽƉĂƌĂĂĂĚŽĕĆŽĚĞƵŵǀĞƌĚĂĚĞŝƌŽ;ƉƵƌŽͿ
universalismo no mundo74.
ϳϮ&>d,Z͕/ĂŶ&͘/ŶƐŽůǀĞŶĐǇ/ŶWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ͙, §1.19 apudt^^>^͖Žď͖DZ<>>͕ƌƵĐĞ͖͘</>-
KZE͕:ĂƐŽŶ:͘/ŶƚĞƌŶĂƟŽŶĂůŽŽƉĞƌĂƟŽŶŝŶĂŶŬƌƵƉƚĐǇ͙, p. 70.
ϳϯKƉƌŽĨĞƐƐŽƌŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽƚƌĂĕŽƵŽƐƉƌŝŵĞŝƌŽƐĐŽŶƚŽƌŶŽƐĚĞƐƵĂƚĞŽƌŝĂĞŵƵŵĂƌƟŐŽƋƵĞǀŝƐĂǀĂůŝĚĂƌĐŽŵĂĞƐ-
ĐŽůŚĂĚĂĂǀŽŝĚĂŶĐĞůĂǁŶŽƐĐĂƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂŐůŽďĂŝƐ͗͞dŚŝƐƌƟĐůĞŝƐĂďŽƵƚŽŶĞŝŵƉŽƌƚĂŶƚĂƐƉĞĐƚŽĨƚƌĂŶƐŶĂƟŽŶĂů
ďĂŶŬƌƵƉƚĐǇ͕ƚŚĞĂǀŽŝĚĂŶĐĞŽĨƉƌĞďĂŶŬƌƵƉƚĐǇƚƌĂŶƐĂĐƟŽŶƐ͘tŚĞŶĂŵƵůƟŶĂƟŽŶĂůĞŶƚĞƌƐďĂŶŬƌƵƉƚĐǇƉƌŽĐĞĞĚŝŶŐƐŝŶ
ŝƚƐŚŽŵĞĐŽƵŶƚƌǇ͕ŝƚǁŝůůŶĞĂƌůǇĂůǁĂǇƐŚĂǀĞĞŶŐĂŐĞĚŝŶƉƌĞďĂŶŬƌƵƉƚĐǇƚƌĂŶƐĂĐƟŽŶƐŚĂǀŝŶŐƐƵďƐƚĂŶƟĂůĐŽŶƚĂĐƚƐǁŝƚŚ
ƚǁŽŽƌŵŽƌĞŶĂƟŽŶƐ͘ǀĞƌǇŽƚŚĞƌƉĂƌƚǇƚŽĞĂĐŚŽĨƚŚŽƐĞƚƌĂŶƐĂĐƟŽŶƐŵĂǇďĞĂĚĞĨĞŶĚĂŶƚŝŶĂŶĂǀŽŝĚĂŶĐĞĂĐƟŽŶ
ďƌŽƵŐŚƚďǇƚŚĞdƌƵƐƚĞĞŝŶĂŶŬƌƵƉƚĐǇ;d/ͿŝŶĂŶ͞ĂǀŽŝĚŝŶŐ͟ĐŽƵƌƚ͕ǁŚŝĐŚŝƐĂĐŽƵƌƚŝŶĂŶĂƟŽŶƚŚĂƚŝƐŶŽƚƚŚĞŚŽŵĞ
ĐŽƵŶƚƌǇ ŽĨ ƚŚĞ ŵƵůƟŶĂƟŽŶĂů͕ ďƵƚ ǁŚŝĐŚ ŚĂƐ ƐƵďƐƚĂŶƟĂů ĐŽŶƚĂĐƚƐ ǁŝƚŚ ƚŚĞ ƚƌĂŶƐĂĐƟŽŶƐ ĂŶĚ ŚĂƐ ũƵƌŝƐĚŝĐƟŽŶ ŽǀĞƌ
ĂŶĂǀŽŝĚĂŶĐĞĚĞĨĞŶĚĂŶƚ͘dŚĞĂǀŽŝĚŝŶŐĐŽƵƌƚŵƵƐƚĐŚŽŽƐĞǁŚŝĐŚĂǀŽŝĚĂŶĐĞůĂǁƚŽĂƉƉůǇ͘dŚŝƐƌƟĐůĞĚŝƐĐƵƐƐĞĚƚŚĞ
ŵŽƐƚĐŽŵŵŽŶĂŶĚƐŝŵƉůĞƐƚĐĂƐĞŝŶǁŚŝĐŚƚŚĞĐŚŽŝĐĞƐĂƌĞƚǁŽ͗;ϭͿůŽĐĂů;ĂǀŽŝĚŝŶŐĐŽƵƌƚͿůĂǁ͖Žƌ;ϮͿŚŽŵĞͲĐŽƵŶƚƌǇ
;ĚŽŵŝĐŝůŝĂƌǇͿůĂǁ͟;t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘Choice of Avoidance Law in Global Insolvencies͘ƌŽŽŬůǇŶ:ŽƵƌŶĂů
ŽĨ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ͕ǀ͘ϭϳ͕Ɖ͘ϰϵϵ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘ũŽƵƌŶĂůƐͬ
ďũŝůϭϳΘĚŝǀсϯϬΘŝĚсΘƉĂŐĞсх͘ĐĞƐƐŽĞŵϭϲ͘Ϭϱ͘ϮϬϭϲͿ͘ĚĞĮŶŝĕĆŽĚŽƚĞƌŵŽavoidanceĠĨŽƌŶĞĐŝĚĂƉĞůŽĐŝƚĂĚŽƉƌŽ-
ĨĞƐƐŽƌŶĂŶŽƚĂĚĞƌŽĚĂƉĠĚĞŶǑϮ͚͗͞ǀŽŝĚĂŶĐĞ͛ŽĨĂƚƌĂŶƐĂĐƟŽŶƌĞĨĞƌƐƚŽ͗;ϭͿĂũƵĚŝĐŝĂůŽƌĚĞƌƌĞƋƵŝƌŝŶŐƚŚĞƌĞƚƵƌŶ
ŽĨĐĞƌƚĂŝŶƉƌŽƉĞƌƚǇƚƌĂŶƐĨĞƌƌĞĚďǇĂĚĞďƚŽƌ͖;ϮͿƚŚĞĐĂŶĐĞůŝŶŐŽĨĐĞƌƚĂŝŶŽďůŝŐĂƟŽŶƐŝŶĐƵƌƌĞĚďǇĂĚĞďƚŽƌ͖Žƌ;ϯͿƚŚĞ
ĂǁĂƌĚŽĨĂŵŽŶĞƚĂƌǇũƵĚŐŵĞŶƚĂŐĂŝŶƐƚƚŚĞďĞŶĞĮĐŝĂƌǇŽĨĂƚƌĂŶƐĂĐƟŽŶŝŶƚŚĞĂŵŽƵŶƚŽĨƚŚĞďĞŶĞĮƚƌĞĐĞŝǀĞĚ͘͟
ϳϰ͞/ĂŵĐŽŶǀŝŶĐĞĚƚŚĂƚŵŽĚŝĮĞĚƵŶŝǀĞƌƐĂůŝƐŵŝƐƚŚĞďĞƐƚƚƌĂŶƐŝƟŽŶĂůƌƵůĞ͕ďĞĐĂƵƐĞŝƚŵŽǀĞƐƵƐŝŶƚŚĞƌŝŐŚƚĚŝƌĞĐ-
ƟŽŶͲͲƚŽǁĂƌĚƚƌƵĞƵŶŝǀĞƌƐĂůŝƐŵͶĂŶĚƉƌŽǀŝĚĞƐƚŚĞĞƐƐĞŶƟĂůĞǆƉĞƌŝĞŶĐĞƚŽŝŶĨŽƌŵƚŚĞĨĂƐŚŝŽŶŝŶŐŽĨĂŵƵůƟŶĂƟŽŶĂů
ďĂŶŬƌƵƉƚĐǇĐŽŶǀĞŶƟŽŶǁŚĞŶƚŚĂƚƟŵĞĐŽŵĞƐ͘/ƚĂůƐŽƉĞƌŵŝƚƐŇĞǆŝďůĞ͕ƉƌĂŐŵĂƟĐĚĞĐŝƐŝŽŶƐƚŽďĞŵĂĚĞŝŶƚŚĞŚĞƌĞ
ĂŶĚŶŽǁƚŚĂƚĞŶĂďůĞƐƉĂƌƟĞƐƚŽŽďƚĂŝŶƐŽŵĞƉŽƌƟŽŶŽĨƚŚĞďĞŶĞĮƚƐŽĨƵŶŝǀĞƌƐĂůŝƐŵ͘͟t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘
'ůŽďĂů^ŽůƵƟŽŶ͙, p. 2329.

ůĠŵĚŝƐƐŽ͕ŽƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽ͕ĂůŵĞũĂŶĚŽǀŝĂďŝůŝǌĂƌƵŵĂ
ĐŽŽƉĞƌĂĕĆŽŵĂŝƐƉƌſǆŝŵĂĂŽŝĚĞĂů͕ƉƌĞǀġĂĂďĞƌƚƵƌĂĚĞƵŵƉƌŽĐĞƐƐŽƉƌŝŶ-
ĐŝƉĂů͕ŐĞƌĂůŵĞŶƚĞŶŽƉĂşƐĚĞƐĞĚĞĚŽĚĞǀĞĚŽƌ;home countryͿ͕ƐĞŐƵŝĚŽĚĞ
ƉƌŽĐĞƐƐŽƐĂƵǆŝůŝĂƌĞƐ͕ƐĞŶĞĐĞƐƐĄƌŝŽƐ͕ĞŵŽƵƚƌŽƐƐƚĂĚŽƐƋƵĞƉŽƐƐƵĂŵďĞŶƐ
ŶĞůĞƐŝƚƵĂĚŽƐ͘ƐƐĞƐƷůƟŵŽƐƉƌŽĐĞĚŝŵĞŶƚŽƐĚĞǀĞŵƉƌŝǀŝůĞŐŝĂƌĂŽŵĄǆŝŵŽ
ĂůĞŝĚŽƉĂşƐĚĞĂďĞƌƚƵƌĂĚŽƉƌŽĐĞƐƐŽƉƌŝŶĐŝƉĂů͕ƉĞƌŵŝƟŶĚŽ͕ĐŽŶƚƵĚŽ͕ƋƵĞ
ŽũƵŝǌĂŶĂůŝƐĞƐĞĂĚĞĐŝƐĆŽƚŽŵĂĚĂŶĂhome countryĠũƵƐƚĂĞĂĚĞƋƵĂĚĂ͕
sob pena de não a conferir a ela os efeitos no foro.
WĂƌĂ ƐĞĚŝŵĞŶƚĂƌ Ž ĞŶƚĞŶĚŝŵĞŶƚŽ ĚŽ ƐŝƐƚĞŵĂ ƉƌŽƉŽƐƚŽ͕ :ĂǇ tĞƐƚ-
ďƌŽŽŬĞǆĞŵƉůŝĮĐĂĂƐƵĂĂĚŽĕĆŽƉŽƌƵŵũƵůŐĂĚŽĂŵĞƌŝĐĂŶŽ͗
ΗdŚĞŽƉĞƌĂƟŽŶŽĨŵŽĚŝĮĞĚƵŶŝǀĞƌƐĂůŝƐŵŝƐŝůůƵƐƚƌĂƚĞĚďǇ/ŶƌĞ
ƵůŵĞƌ͕ŽŶĞŽĨƚŚĞůĞĂĚŝŶŐĐĂƐĞƐĚĞĐŝĚĞĚƵŶĚĞƌƐĞĐƟŽŶϯϬϰ
ŽĨƚŚĞĂŶŬƌƵƉƚĐǇŽĚĞ͘dŚĞƌĞ͕ĂĂŚĂŵŝĂŶĐŽƌƉŽƌĂƟŽŶŚĂĚ
ĂƐƐĞƚƐŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐĂŶĚĐƌĞĚŝƚŽƌƐŚĂĚĂƩĂĐŚĞĚƚŚŽƐĞ
ĂƐƐĞƚƐ͕ŐŝǀŝŶŐƚŚĞŵĐĞƌƚĂŝŶƉƌŝŽƌŝƚǇƌŝŐŚƚƐƵŶĚĞƌhŶŝƚĞĚ^ƚĂƚĞƐ
ůĂǁ͘dŚĞĂŚĂŵŝĂŶůŝƋƵŝĚĂƚŽƌďƌŽƵŐŚƚĂƉĞƟƟŽŶƵŶĚĞƌƐĞĐ-
ƟŽŶϯϬϰƐĞĞŬŝŶŐĂƐƚĂǇŽĨƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐĐŽůůĞĐƟŽŶĂĐƟŽŶƐ
ĂŶĚƚƵƌŶŽǀĞƌŽĨƚŚĞĂƐƐĞƚƐĨŽƌĚŝƐƚƌŝďƵƟŶŐŝŶƚŚĞĂŚĂŵŝĂŶ
ƉƌŽĐĞĞĚŝŶŐ͘dŚĂƚƚŚĞǇƐƵĐĐĞĞĚŝŶďŽƚŚƌĞƋƵĞƐƚƐƌĞŇĞĐƚĞĚƚŚĞ
ĐŽƵƌƚ͛ƐƵŶŝǀĞƌƐĂůŝƐƚǀŝĞǁ͗ďĞĐĂƵƐĞƚŚĞĂŚĂŵŝĂŶĂĐƟŽŶƐĂƟƐ-
ĮĞĚƚŚĞƐƚĂƚƵƚĞ͛ƐĐŚŽŝĐĞͲŽĨͲĨŽƌƵŵƌƵůĞ͕ĂŶĐŝůůĂƌǇƌĞůŝĞĨǁĂƐŝŶ-
ĚŝĐĂƚĞĚ͘dŚĞƵŶŝǀĞƌƐĂůŝƐƚƉĞƌƐƉĞĐƟǀĞǁĂƐĞŵƉŚĂƐŝǌĞĚďǇƚŚĞ
ĨĂĐƚƚŚĂƚƚŚĞƌĞůŝĞĨŝŶĐůƵĚĞĚƚƵƌŶŽǀĞƌŽĨĂƐƐĞƚƐ͕ŝŶĞīĞĐƚĚŝƐ-
ƉĂƚĐŚŝŶŐƚŚĞĐƌĞĚŝƚŽƌƐƚŽƚŚĞĂŚĂŵĂƐƚŽĂƐƐĞƌƚƚŚĞŝƌĐůĂŝŵƐ͘
KŶƚŚĞŽƚŚĞƌŚĂŶĚ͕ƚŚĞĐŽƵƌƚĚŝĚŶŽƚŐƌĂŶƚƚŚĞƌĞůŝĞĨƵŶƟůŝƚ
ŚĂĚƐĂƟƐĮĞĚƚŚĂƚĂŚĂŵŝĂŶůĂǁĐŽƵůĚďĞƚƌƵƐƚĞĚƚŽďĞĨĂŝƌ
ĂŶĚǁĂƐŝŶŐĞŶĞƌĂůƚĞƌŵƐƐŝŵŝůĂƌƚŽhŶŝƚĞĚ^ƚĂƚĞƐůĂǁ͘dŚĂƚŝŶ-
ƋƵŝƌǇũƵƐƟĮĞƐƚŚĞĂĚũĞĐƟǀĞ͞ŵŽĚŝĮĞĚ͕͟ďĞĐĂƵƐĞƚŚĞĚĞĨĞƌĞŶ-
ĐĞƚŽƚŚĞƉƌĞĨĞƌƌĞĚƵŶŝǀĞƌƐĂůŝƐƚĨŽƌƵŵǁĂƐŶŽƚĂƵƚŽŵĂƟĐ͕ďƵƚ
ƌĞƋƵŝƌĞĚĂƉƌĂĐƟĐĂůĮŶĚŝŶŐŽĨĨĂŝƌŶĞƐƐĂŶĚƌŽƵŐŚƐŝŵŝůĂƌŝƚǇ͘Η75
ŽŵŽ ƐĞ ǀġ͕ Ž ƉĂƉĞů ĚĂ ŽƌƚĞ ůŽĐĂů Ġ Ž ĚĞ ǀĞƌŝĨŝĐĂƌ ƐĞ Ă ŵĞĚŝĚĂ
ĂĚŽƚĂĚĂ ĂůŚƵƌĞƐ Ġ ĐŽŶƐŝĚĞƌĂĚĂ ͞ũƵƐƚĂ͕͟ ŝƐƚŽ Ġ͕ ƐĞ ŶĆŽ ŽĨĞŶĚĞ ŶĞŶŚƵŵ
imperativo da lei local, como, v.g.͕ĂŽƌĚĞŵƉƷďůŝĐĂ͘WĂƐƐĂŶĚŽŶĞƐƐĞƚĞƐƚĞ͕
deve a Corte local privilegiar as decisões tomadas no processo principal.
ƐƐŝŵ͕ŽƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽĐŽŶƐĞŐƵĞŝŶƚƌŽĚƵǌŝƌŽƐƉƌŝŶĐşƉŝŽƐƵŶŝ-
ϳϱt^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘'ůŽďĂů^ŽůƵƟŽŶ͙, p. 2302.

ǀĞƌƐĂůŝƐƚĂƐƐĞŵĚĞƐĐŽŶƐŝĚĞƌĂƌĂĚŝĮĐƵůĚĂĚĞĚŽƐƐƚĂĚŽƐĞŵĚĂƌĞĨĞŝƚŽƐĂ
decisões estrangeiras sem que passe pelo crivo da autoridade local. No
ĐĂƐŽĚŽƌĂƐŝů͕ƉŽƌĞǆĞŵƉůŽ͕ŽƐŝƐƚĞŵĂĚĞ:ĂǇtĞƐƚďƌŽŽŬĞƐƚĄĞŵĐŽŶƐŽ-
nância com o disposto no art. 12, § ϭǐĚŽĞĐƌĞƚŽͲ>ĞŝŶǑϰ͘ϲϱϳ;>/EͿ76 e
art. 23, I, do atual CPC77.
:ĂǇtĞƐƚďƌŽŽŬƉƌŽƉƁĞ͕ĂŝŶĚĂ͕ƋƵĞŽƐĞƵƐŝƐƚĞŵĂŝŶƚĞƌŵĞĚŝĄƌŝŽĚĞǀĞ
ĂƵǆŝůŝĂƌƚĂŵďĠŵŶĂƚĞŶƚĂƟǀĂĚĞƉƌŽƉŽƌƐŽůƵĕƁĞƐƉĂƌĂĂĐŽŵƉůĞǆĂƐŝƚƵĂ-
ĕĆŽĚŽƐŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐ͘^ĞŐƵŶĚŽŽĂƵƚŽƌ͕ƵŵĂĨĂůġŶĐŝĂŽƵƌĞĐƵƉĞƌĂĕĆŽ
ĚĞƵŵĐŽŶŐůŽŵĞƌĂĚŽƐŽĐŝĞƚĄƌŝŽƌĞĂůŵĞŶƚĞŝŶƚĞƌůŝŐĂĚŽƉŽƐƐƵŝŵƵŝƚŽŵĂŝƐ
ĐŚĂŶĐĞĚĞŽďƚĞƌƐƵĐĞƐƐŽƐĞĨŽƌĐĞŶƚƌĂĚŽĞŵƵŵũƵşǌŽƵŶŝǀĞƌƐĂů78. O pro-
ĨĞƐƐŽƌŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽĐŝƚĂ͕ĂŝŶĚĂ͕ƉƌŽƉŽƐƚĂĚŽũƵƌŝƐƚĂWŚŝůůŝƉůƵŵďĞƌŐ
ĚĞĚĞƐĐŽŶƐŝĚĞƌĂƌĂƉĞƌƐŽŶĂůŝĚĂĚĞũƵƌşĚŝĐĂĚĂƐƐŽĐŝĞĚĂĚĞƐĞŵĚĞƚĞƌŵŝŶĂ-
ĚĂƐƐŝƚƵĂĕƁĞƐƋƵĞĞǆŝũĂŵŝƐƐŽ79͘ZĞƐƐĂůƚĂ͕ƉŽƌĠŵ͕ƋƵĞĂƋƵĞƐƚĆŽĠĚĞůŝĐĂĚĂ
e merece um estudo mais cauteloso80.
KƵƚƌŽƐŝƐƚĞŵĂŝŶƚĞƌŵĞĚŝĄƌŝŽƋƵĞŽĐƵƉŽƵĚĞƐƚĂƋƵĞŶŽƐĚĞďĂƚĞƐƐŽ-
ďƌĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐĨƌŽŶƚĞŝƌŝĕĂĠŽĚŽƉƌŽĨĞƐƐŽƌ>ǇŶŶ>ŽWƵĐŬŝ͕ŶŽŵĞĂĚŽ
ĚĞ ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ ĐŽŽƉĞƌĂƟǀŽ ;ĐŽŽƉĞƌĂƟǀĞ ƚĞƌƌŝƚŽƌŝĂůŝƚǇͿ͘ K ŵŽĚĞůŽ ĨŽŝ
ƉƌŽƉŽƐƚŽĞŵƵŵĚĞƐĞƵƐĞƐƚƵĚŽƐĚĞĐƌşƟĐĂĂŽƵŶŝǀĞƌƐĂůŝƐŵŽ81, que pos-
ϳϲƌƚ͘ϭϮ͘ΗĐŽŵƉĞƚĞŶƚĞĂĂƵƚŽƌŝĚĂĚĞũƵĚŝĐŝĄƌŝĂďƌĂƐŝůĞŝƌĂ͕ƋƵĂŶĚŽĨŽƌŽƌĠƵĚŽŵŝĐŝůŝĂĚŽŶŽƌĂƐŝůŽƵĂƋƵŝƟǀĞƌ
ĚĞƐĞƌĐƵŵƉƌŝĚĂĂŽďƌŝŐĂĕĆŽΗ͘ΑϭǑ͘Η^ſăĂƵƚŽƌŝĚĂĚĞũƵĚŝĐŝĄƌŝĂďƌĂƐŝůĞŝƌĂĐŽŵƉĞƚĞĐŽŶŚĞĐĞƌĚĂƐĂĕƁĞƐƌĞůĂƟǀĂƐĂ
ŝŵſǀĞŝƐƐŝƚƵĂĚŽƐŶŽƌĂƐŝůΗ͘
ϳϳƌƚ͘Ϯϯ͘ΗŽŵƉĞƚĞăĂƵƚŽƌŝĚĂĚĞũƵĚŝĐŝĄƌŝĂďƌĂƐŝůĞŝƌĂ͕ĐŽŵĞǆĐůƵƐĆŽĚĞƋƵĂůƋƵĞƌŽƵƚƌĂ͗/ʹĐŽŶŚĞĐĞƌĚĂƐĂĕƁĞƐ
ƌĞůĂƟǀĂƐĂŝŵſǀĞŝƐƐŝƚƵĂĚŽƐŶŽƌĂƐŝůΗ͘
ϳϴWĂƌĂŽĂƵƚŽƌ͕ŽƵŶŝǀĞƌƐĂůŝƐŵŽ͞ĚĞƉĞŶĚƐĞƋƵĂůůǇŽŶĂƐĞĐŽŶĚĂƐƐĞƌƟŽŶ͕ƚŚĂƚĂƵŶŝǀĞƌƐĂůŝƐƚƌƵůĞǁŽƵůĚƐŽŝŶĐƌĞĂƐĞ
ǀĂůƵĞƐĂǀĂŝůĂďůĞĨŽƌĂůůůŽĐĂůĐůĂŝŵĂŶƚƐŝŶĂůůŐĞŶĞƌĂůĚĞĨĂƵůƚƐĂƐƚŽŽīƐĞƚďǇĨĂƌƚŚĞůŽƐƐĞƐƚŚĂƚƉĂƌƟĐƵůĂƌůŽĐĂůĐůĂŝ-
ŵĂŶƚƐŵŝŐŚƚƐƵīĞƌŝŶƐŽŵĞĐĂƐĞƐ͘dŚĂƚĂƐƐĞƌƟŽŶŝƐƉĞƌƐƵĂƐŝǀĞďĞĐĂƵƐĞƚŚĞƉƌĞƐĞƌǀĂƟŽŶŽĨŐŽŝŶŐĐŽŶĐĞƌŶǀĂůƵĞƐ
ĂŶĚƚŚĞŵĂǆŝŵŝǌŝŶŐŽĨůŝƋƵŝĚĂƟŽŶǀĂůƵĞƐďǇŝŶƚĞŐƌĂƚĞĚƐĂůĞƐǁŝůůůŝŬĞůǇŝŶĐƌĞĂƐĞƌĞƚƵƌŶƐƚŽĐƌĞĚŝƚŽƌƐŐƌĞĂƚůǇ͘͟t^d-
ZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘dŚĞŽƌǇĂŶĚWƌĂŐŵĂƟƐŵŝŶ'ůŽďĂů/ŶƐŽůǀĞŶĐŝĞƐ͗ŚŽŝĐĞŽĨ>ĂǁĂŶĚŚŽŝĐĞŽĨ&ŽƌƵŵ͘ϲϱ͕dŚĞ
ŵĞƌŝĐĂŶĂŶŬƌƵƉƚĐǇ>Ăǁ:ŽƵƌŶĂů͕ϰϱϳʹϰϲϱ;ϭϵϵϭͿ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉƐ͗ͬͬůŝƟŐĂƟŽŶͲĞƐƐĞŶƟĂůƐ͘ůĞǆŝƐŶĞǆŝƐ͘ĐŽŵͬ
ǁĞďĐĚͬĂƉƉ͍ĂĐƟŽŶсŽĐƵŵĞŶƚŝƐƉůĂǇΘĐƌĂǁůŝĚсϭΘƐƌĐƚǇƉĞсƐŵŝΘƐƌĐŝĚсϯϭϱΘĚŽĐƚǇƉĞсĐŝƚĞΘĚŽĐŝĚсϲϱнŵ͘нĂŶŬƌ͘н
>͘:͘нϰϱϳΘŬĞǇсϳϱϯĂϬĂĐϰϬĐĂĂĞϰĚĂϰϮĨϰĚĞĂϬϱĨĐĂĚĚϴϱх͘ĐĞƐƐŽĞŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͘
ϳϵ͞dŚŝƐƉƌŽďůĞŵ΀ĐŽƌƉŽƌĂƚĞŐƌŽƵƉƐ΁ŝƐĂůƐŽĨĂƌďƌŽĂĚĞƌƚŚĂŶďĂŶŬƌƵƉƚĐǇ͘/ŶŚŝƐĐůĂƐƐŝĐŵƵůƟǀŽůƵŵĞƚƌĞĂƟƐĞ͕dŚĞ>Ăǁ
ŽĨŽƌƉŽƌĂƚĞ'ƌŽƵƉƐ͕WŚŝůůŝƉůƵŵďĞƌŐĂŶĂůǇǌĞƐŝŶĚĞƚĂŝůƚŚĞĞŶŽƌŵŽƵƐůĞŐĂůƉƌŽďůĞŵƐƚŚĂƚĂƌĞƉƌĞƐĞŶƚĞĚďǇďƵƐŝ-
ŶĞƐƐĞŶƚĞƌƉƌŝƐĞƐǁŝƚŚĂƐŝŶŐůĞĚŝƌĞĐƟŽŶ͕ďƵƚŝŶĮŶŝƚĞůǇŵƵůƟƉůŝĂďůĞůĞŐĂůƌĞĚŽƵďƚƐ͘,ĞƐƵŐŐĞƐƚƐƚŚĂƚƚŚĞǇŵĂǇŚĂǀĞƚŽ
ďĞƚƌĞĂƚĞĚĂƐƐŝŶŐůĞĞŶƟƟĞƐƵŶĚĞƌƐŽŵĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͕͚ƉŝĞƌĐŝŶŐƚŚĞĐŽƌƉŽƌĂƚĞǀĞŝů͛͘͟t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘
'ůŽďĂů^ŽůƵƟŽŶ͙, p. 2311.
ϴϬơƚƵůŽĚĞĐŽŵƉůĞŵĞŶƚĂĕĆŽ͕ĐŽŶǀĠŵĚĞƐƚĂĐĂƌƐƵŐĞƐƚĆŽĚŽũƵŝǌĨĞĚĞƌĂů^ĂŵƵĞůƵīŽƌĚ͕ĂŵƉĂƌĂĚĂƉĞůĂůŝĕĆŽĚĞ
>ǇŶŶ>ŽWƵĐŬŝ͕ĚĞĂĚŵŝŶŝƐƚƌĂƌƵŵŐƌƵƉŽƐŽĐŝĞƚĄƌŝŽŝŶƚĞŐƌĂĚŽĞŵƐƵĂŚŽŵĞĐŽƵŶƚƌǇĂŽƉĂƐƐŽƋƵĞ͕ŶŽƐĐĂƐŽƐĚŽƐŐƌƵ-
ƉŽƐŝŶĚĞƉĞŶĚĞŶƚĞƐ͕ĐĂĚĂĞŶƟĚĂĚĞůĞŐĂůƐĞƌŝĂĂĚŵŝŶŝƐƚƌĂĚĂƐĞƉĂƌĂĚĂĞŵƐƵĂŚŽŵĞĐŽƵŶƚƌǇ͗͞΀͘͘͘΁ĂĐŽƌƉŽƌĂƚĞŐƌŽƵƉ
ƚŚĂƚŝƐĂŶŝŶƚĞŐƌĂƚĞĚĞĐŽŶŽŵŝĐƵŶŝƚĐĂŶŽŶůǇďĞƌĞŽƌŐĂŶŝǌĞĚŽƌůŝƋƵŝĚĂƚĞĚĞĸĐŝĞŶƚůǇŝĨŝƚŝƐĚŽŶĞĐŽůůĞĐƟǀĞůǇĨŽƌƚŚĞ
ĞŶƟƌĞŐƌŽƵƉ͘WƌŽĨĞƐƐŽƌ>ŽWƵĐŬŝ͛ƐƐŽůƵƟŽŶƚŽƚŚĞƉƌŽďůĞŵŽĨĐŽƌƉŽƌĂƚĞŐƌŽƵƉƐŝƐĞǆĂĐƚůǇĐŽƌƌĞĐƚ͘dŚĞƐĞŶƐŝďůĞƐŽůƵ-
ƟŽŶ͕ŚĞƐĂǇƐ͕ŝƐƚŽĂĚŵŝŶŝƐƚĞƌĞĐŽŶŽŵŝĐĂůůǇŝŶƚĞŐƌĂƚĞĚŐƌŽƵƉŵĞŵďĞƌƐŝŶƚŚĞŚŽŵĞĐŽƵŶƚƌǇŽĨƚŚĞŝŶƚĞŐƌĂƚĞĚŐƌŽƵƉ͕
ĂŶĚƚŽĂĚŵŝŶŝƐƚĞƌĞĐŽŶŽŵŝĐĂůůǇŝŶĚĞƉĞŶĚĞŶƚŐƌŽƵƉŵĞŵďĞƌƐƐĞƉĂƌĂƚĞůǇŝŶƚŚĞŝƌŽǁŶŚŽŵĞĐŽƵŶƚƌŝĞƐ͘͟h&&KZ͕
^ĂŵƵĞů>͘Η'ůŽďĂůsĞŶƵĞ͘͘͘Η, p. 136.
ϴϭKƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĐŽŽƉĞƌĂƟǀŽĨŽŝƉƌŽƉŽƐƚŽƉŝŽŶĞŝƌĂŵĞŶƚĞĞŵƵŵĞƐƚƵĚŽĚŽĂƵƚŽƌ͕ĐƌŝƟĐĂŶĚŽŽƐŵŽĚĞůŽƐƵŶŝ-
ǀĞƌƐĂůŝƐƚĂƐĞǆŝƐƚĞŶƚĞƐ͗͞dŚŝƐƌƟĐůĞĞǆĂŵŝŶĞƐƐĞǀĞƌĂůĐŽŵƉĞƟŶŐƐǇƐƚĞŵƐƉƌŽƉŽƐĞĚĨŽƌŝŶƚĞƌŶĂƟŽŶĂůĐŽŽƉĞƌĂƟŽŶŝŶ

ƚĞƌŝŽƌŵĞŶƚĞĐŽŶĚƵǌŝƵĂƵŵĄƌĚƵŽĚĞďĂƚĞĂĐĂĚġŵŝĐŽĐŽŵ:ĂǇtĞƐƚďƌŽŽŬ͕
ƌĞŐŝƐƚƌĂĚŽĞŵƐŝŵƉſƐŝŽƌĞĂůŝǌĂĚŽŶĂhŶŝǀĞƌƐŝĚĂĚĞĚĞDŝĐŚŝŐĂŶ͘
KƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĐŽŽƉĞƌĂƟǀŽĚĞ>ǇŶŶ>ŽWƵĐŬŝƚĂŵďĠŵĚĞĨĞŶĚĞĂ
ĞǆŝƐƚġŶĐŝĂĚĞǀĄƌŝŽƐƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂƌĞƐ͕ƉŽƌĠŵŽƐĞŶƚĞŶĚĞĐŽŵŽŝŶ-
ĚĞƉĞŶĚĞŶƚĞƐ Ğ ƉĂƌĂůĞůŽƐ͕ ƐĞŵ ƋƵĂůƋƵĞƌ ǀşŶĐƵůŽ ĚĞ ƐƵũĞŝĕĆŽ ĞŶƚƌĞ ĞůĞƐ͘
ƐƐĞƐƉƌŽĐĞƐƐŽƐƐĆŽĂďĞƌƚŽƐŶŽƐůŽĐĂŝƐĞŵƋƵĞŽĚĞǀĞĚŽƌƟǀĞƌďĞŶƐƐŝƚƵ-
ĂĚŽƐ͘WŽƌĠŵ͕ŝŶŽďƐƚĂŶƚĞĚĞƐĐĞŶƚƌĂůŝǌĂĚŽƐ͕ŽƐſƌŐĆŽƐĚĂĨĂůġŶĐŝĂĚĞĐĂĚĂ
ƵŵƉŽƐƐƵĞŵŽĚĞǀĞƌĚĞƐĞĂũƵĚĂƌĞŵŵƵƚƵĂŵĞŶƚĞ͕ĞŵƉƌŽůĚĂĐŽŽƉĞƌĂ-
ĕĆŽŶĂŝŶƐŽůǀġŶĐŝĂ͘/ƐƐŽƚƌĂƌŝĂ͕ŶĂǀŝƐĆŽĚŽƉƌŽĨĞƐƐŽƌ͕ƵŵĂƐĠƌŝĂĚĞǀĂŶ-
ƚĂŐĞŶƐ͕ ƚĂů ĐŽŵŽ ĞǀŝƚĂƌ ƋƵĞ Ă ŵĂŶŝƉƵůĂĕĆŽ ĚĂ ƐĞĚĞ ĚŽ ĚĞǀĞĚŽƌ ;home
countryͿ levasse ao forum shopping͕ďĞŵĐŽŵŽŝŵƉĞĚŝƌĂŽĐŽƌƌġŶĐŝĂĚĞ
ŽĨĞŶƐĂăƐŽďĞƌĂŶŝĂĚŽƐƉĂşƐĞƐĞĂŽƐĐƌĠĚŝƚŽƐŝŶĚŝǀŝĚƵĂŝƐ͗
ΗhŶĚĞƌ ƚŚĞ ĐŽŽƉĞƌĂƟǀĞ ƚĞƌƌŝƚŽƌŝĂůŝƚǇ ƐǇƐƚĞŵ / ƉƌŽƉŽƐĞ͕ ƚŚĞ
ďĂŶŬƌƵƉƚĐǇĐŽƵƌƚƐŽĨĂĐŽƵŶƚƌǇǁŝůůĂĚŵŝŶŝƐƚĞƌƚŚĞĂƐƐĞƚƐŽĨ
ĂŵƵůƟŶĂƟŽŶĂůĚĞďƚŽƌǁŝƚŚŝŶƚŚĞďŽƌĚĞƌƐŽĨƚŚĂƚĐŽƵŶƚƌǇĂƐ
Ă ƐĞƉĂƌĂƚĞ ƐƚĂƚĞ͘ /Ĩ Ă ĚĞďƚŽƌ ŚĂĚ ƐŝŐŶŝĮĐĂŶƚ ĂƐƐĞƚƐ ŝŶ ƐĞǀĞ-
ƌĂů ĐŽƵŶƚƌŝĞƐ͕ ƐĞǀĞƌĂů ŝŶĚĞƉĞŶĚĞŶƚ ďĂŶŬƌƵƉƚĐǇ ĐĂƐĞƐ ŵŝŐŚƚ
ƌĞƐƵůƚ͘EŽŶĞǁŽƵůĚďĞŵĂŝŶ͕ƐĞĐŽŶĚĂƌǇ͕ŽƌĂŶĐŝůůĂƌǇ͘΀͙΁dŽ
ŝůůƵƐƚƌĂƚĞƚŚĞǁŽƌůĚǁŝĚĞŽƉĞƌĂƟŽŶŽĨĂĐŽŽƉĞƌĂƟǀĞƚĞƌƌŝƚŽƌŝĂů
ďĂŶŬƌƵƉƚĐǇ ƐǇƐƚĞŵ͕ ĂƐƐƵŵĞ ĂŐĂŝŶ ƚŚĂƚ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ ŝƐ
ƚŚĞ ŚŽŵĞ ĐŽƵŶƚƌǇ ŽĨ Ă ĚĞďƚŽƌ ǁŝƚŚ ǁŽƌůĚǁŝĚĞ ŽƉĞƌĂƟŽŶƐ͘
ĂĐŚ ŽĨ ƚŚĞ ĮůůŝŶŐƐ ǁŽƵůĚ ďĞ ŽĨ ĞƋƵĂů ĚŝŐŶŝƚǇ͘ ĂĐŚ ŽĨ ƚŚĞ
ďĂŶŬƌƵƉƚĐǇĐŽƵƌƚƐǁŽƵůĚĂƐƐƵŵĞũƵƌŝƐĚŝĐƟŽŶŽǀĞƌƚŚĞůŽĐĂů
ĂƐƐĞƚƐ͕ ǁŽƵůĚ ĚĞƚĞƌŵŝŶĞ ǁŚĞƚŚĞƌ ƚŽ ĐŽŽƉĞƌĂƚĞ ŝŶ Ă ŵƵůƟ-
ŶĂƟŽŶĂůƌĞŽƌŐĂŶŝǌĂƟŽŶŽƌůŝƋƵŝĚĂƟŽŶ͕ĂŶĚŝŶƚŚĞĞǀĞŶƚŽĨůŝ-
ƋƵŝĚĂƟŽŶ͕ĞĂĐŚǁŽƵůĚĚŝƐƚƌŝďƵƚĞƚŚĞĂƐƐĞƚƐŽĨƚŚĞĐŽŵƉĂŶǇ
ĂŵŽŶŐĐƌĞĚŝƚŽƌƐĂŶĚƐŚĂƌĞŚŽůĚĞƌƐƵŶĚĞƌůŽĐĂůůĂǁΗ͘82
>ǇŶŶ>ŽWƵĐŬŝƐƵƐƚĞŶƚĂ͕ĂŝŶĚĂ͕ƋƵĞŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĐŽŽƉĞƌĂƟǀŽƐĞ-
ƌŝĂŽŵĞůŚŽƌƉĂƌĂůŝĚĂƌĐŽŵĂĐŽŵƉůĞǆĂƋƵĞƐƚĆŽĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂ-
ďĂŶŬƌƵƉƚĐǇĐĂƐĞƐĂŶĚĐŽŶĐůƵĚĞƐƚŚĂƚĂĐŽŽƉĞƌĂƟǀĞĨŽƌŵŽĨƚĞƌƌŝƚŽƌŝĂůŝƚǇǁŽƵůĚǁŽƌŬďĞƐƚ͘hŶŝǀĞƌƐĂůŝƐŵ͕ƚŚĞƐǇƐƚĞŵ
ƚŚĂƚĐƵƌƌĞŶƚůǇĚŽŵŝŶĂƚĞƐƚŚĞƐĐŚŽůĂƌƐŚŝƉ͕ĚŝƉůŽŵĂĐǇ͕ĂŶĚũƵƌŝƐƉƌƵĚĞŶĐĞŽĨŝŶƚĞƌŶĂƟŽŶĂůĐŽŵƉĂŶǇ͛Ɛ͞ŚŽŵĞĐŽƵŶƚƌǇ͟
ƐŚŽƵůĚŚĂǀĞǁŽƌůĚǁŝĚĞĐŽŶƚƌŽůĂŶĚƐŚŽƵůĚĂƉƉůǇƚŚĞŚŽŵĞĐŽƵŶƚƌǇ͛ƐůĂǁƚŽƚŚĞĐŽƌĞŝƐƐƵĞƐŽĨƚŚĞĐĂƐĞ͘hŶŝǀĞƌƐĂůŝƐŵ
ŝƐ ƵŶǁŽƌŬĂďůĞ͕ ŚŽǁĞǀĞƌ͕ ďĞĐĂƵƐĞ ƚŚĞ ůŝŶŬƐ ƚŚĂƚ ĚĞĮŶĞ ƚŚĞ ͞ŚŽŵĞ ĐŽƵŶƚƌŝĞƐ͟ ŽĨ ŵƵůƟŶĂƟŽŶĂů ĐŽŵƉĂŶŝĞƐ ĂƌĞ ƐŽ
ĞƉŚĞŵĞƌĂůĂŶĚŵĂŶŝƉƵůĂďůĞƚŚĂƚƚŚĞƌĞƐƵůƟŶŐƐǇƐƚĞŵǁŽƵůĚďĞƵŶƉƌĞĚŝĐƚĂďůĞ͘DŽĚŝĮĞĚƵŶŝǀĞƌƐĂůŝƐŵ͕ƐĞĐŽŶĚĂƌǇ
ďĂŶŬƌƵƉƚĐǇ͕ĂŶĚZĂƐŵƵƐƐĞŶ͛ƐĐŽƌƉŽƌĂƚĞͲĐŚĂƌƚĞƌĐŽŶƚƌĂĐƚƵĂůŝƐŵ͕ĞĂĐŚŽĨǁŚŝĐŚǁŝůůďĞĚŝƐĐƵƐƐĞĚďĞůŽǁ͕ĂƌĞƐŝŵŝůĂƌůǇ
ŇĂǁĞĚ͘dĞƌƌŝƚŽƌŝĂůŝƚǇ͕ĂƐǇƐƚĞŵŝŶǁŚŝĐŚĞĂĐŚĐŽƵŶƚƌǇŚĂƐũƵƌŝƐĚŝĐƟŽŶŽǀĞƌƚŚĞƉŽƌƟŽŶŽĨƚŚĞŵƵůƟŶĂƟŽŶĂůĐŽŵƉĂŶǇ
ǁŝƚŚŝŶŝƚƐďŽƌĚĞƌƐ͕ǁŽƵůĚƉƌŽǀŝĚĞƚŚĞďĞƐƚĨŽƵŶĚĂƟŽŶĨŽƌŝŶƚĞƌŶĂƟŽŶĂůĐŽŽƉĞƌĂƟŽŶ͘ƐǇƐƚĞŵŽĨĐŽŽƉĞƌĂƟǀĞƚĞƌƌŝ-
ƚŽƌŝĂůŝƚǇŝƐŽƉƟŵĂůĞǀĞŶƚŚŽƵŐŚŝƚƉŽƚĞŶƟĂůůǇƌĞƋƵŝƌĞƐŵƵůƟƉůĞĮůŝŶŐĂŶĚƉƌŽƐĞĐƵƟŽŶŽĨĐůĂŝŵƐ͕ĐŽŽƉĞƌĂƟŽŶĂŵŽŶŐ
ĐŽƵƌƚƐĂŶĚĂĚŵŝŶŝƐƚƌĂƚŽƌƐǁŝƚŚƌĞƐƉĞĐƚƚŽƉĂƌƟĐƵůĂƌƌĞŽƌŐĂŶŝǌĂƟŽŶƐĂŶĚůŝƋƵŝĚĂƟŽŶƐ͕ĂŶĚŝŶƚĞƌŶĂƟŽŶĂůĂŐƌĞĞŵĞŶƚƐ
ƚŽĐŽŶƚƌŽůŇĞĞŝŶŐĂƐƐĞƚƐ͘>KWh</͕>ǇŶŶD͘ΗŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͙Η, p. 696.
ϴϮ>KWh</͕>ǇŶŶD͘ΗŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͙Η, p. 742-743.

ĐŝŽŶĂůĚŽƐŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐ͕ŚĂũĂǀŝƐƚĂƋƵĞĂĞǆŝƐƚġŶĐŝĂĚĞƉƌŽĐĞƐƐŽƐĚĞ
ŝŶƐŽůǀġŶĐŝĂĂƵƚƀŶŽŵŽƐ͕ĐŽŽƌĚĞŶĂĚŽƐĞŵƉƌŽůĚĂŵĂǆŝŵŝǌĂĕĆŽĚĂƐĚŝƐƚƌŝ-
buições, evitaria os problemas decorrentes da aplicação do universalismo.
ĞƐƐĞŵŽĚŽ͕ĞŵƐĞƵ ƐŝƐƚĞŵĂ͕ĐĂĚĂ ĐĂƐŽ ƐĞƌŝĂĂŶĂůŝƐĂĚŽ ĞƐƉĞĐŝĮĐĂŵĞŶ-
te pelos órgãosĚĞĐĂĚĂƉƌŽĐĞĚŝŵĞŶƚŽĚŽŵĠƐƟĐŽ͕ƉŽĚĞŶĚŽůĞǀĂƌĂƵŵĂ
ŵĂŝŽƌŽƵŵĞŶŽƌŝŶƚĞŐƌĂĕĆŽ;ĐŽŽƉĞƌĂĕĆŽͿĞŶƚƌĞĂƐƵŶŝĚĂĚĞƐĂƵƚƀŶŽŵĂƐ
ĚŽŐƌƵƉŽ͕ĂĚĞƉĞŶĚĞƌĚĂƐƉĞĐƵůŝĂƌŝĚĂĚĞƐĚŽŐƌƵƉŽƐŽĐŝĞƚĄƌŝŽĂŶĂůŝƐĂĚŽ83.
ŽŵŽŝŶƚƵŝƚŽĚĞĚĞŵŽŶƐƚƌĂƌĂŵĞůŚŽƌĂĚĞƋƵĂĕĆŽĚŽƚĞƌƌŝƚŽƌŝĂůŝƐ-
ŵŽĐŽŽƉĞƌĂƟǀŽƉĂƌĂĐĂƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕>ǇŶŶ>ŽWƵĐŬŝƌĞ-
corre ao caso <WEYǁĞƐƚ͕ĐŝƚĂŶĚŽůŝĕĆŽĚĞZŽďĞƌƚǀĂŶ'ĂůĞŶ͗
ΗdŚĞ <WEYǁĞƐƚ ŐƌŽƵƉ ŽǁŶĞĚ ĐĂďůĞƐ ŝŶ ƵƌŽƉĞ ĂŶĚ ĂĐƌŽƐƐ
ƚŚĞƚůĂŶƟĐKĐĞĂŶ͕ƚŚĞŵĂŝŶŽŶĞƐďĞŝŶŐŝŶƚŚĞĨŽƌŵŽĨƌŝŶŐƐ͘
&ŽƌĞǆĂŵƉůĞ͕ŽŶĞƌŝŶŐĐĂŶƌĂŶƚŚƌŽƵŐŚ'ĞƌŵĂŶǇ͕&ƌĂŶĐĞ͕Ğů-
ŐŝƵŵĂŶĚdŚĞEĞƚŚĞƌůĂŶĚƐ͕ĐŽŶŶĞĐƟŶŐŵĂũŽƌĐŝƟĞƐŝŶƚŚĞƐĞ
ĐŽƵŶƚƌŝĞƐ͘,ŽǁĞǀĞƌ͕ƚŚĞƉĂƌƚŽĨƚŚĞƌŝŶŐƚŚĂƚǁĂƐƐŝƚƵĂƚĞĚŝŶ
'ĞƌŵĂŶǇǁĂƐŽǁŶĞĚďǇĂ'ĞƌŵĂŶƐƵďƐŝĚŝĂƌǇ͕ƚŚĞƉĂƌƚŽĨƚŚĞ
ƌŝŶŐƐŝƚƵĂƚĞĚŝŶ&ƌĂŶĐĞďǇĂ&ƌĞŶĐŚƐƵďƐŝĚŝĂƌǇ͕ĂŶĚƐŽĨŽƌƚŚ͘
tŚĞŶƚŚĞƵƚĐŚƉĂƌĞŶƚĐŽŵƉĂŶǇ͕<WEYǁĞƐƚE͘s͕͘ǁĞŶƚŝŶƚŽ
ďĂŶŬƌƵƉƚĐǇŵĂŶǇŽĨƚŚĞƐƵďƐŝĚŝĂƌŝĞƐŚĂĚƚŽĞŶƚĞƌŝŶƐŽůǀĞŶĐǇ
ƉƌŽĐĞĞĚŝŶŐƐĂƐǁĞůů͘΀͙΁ƚŚĞƚƌƵƐƚĞĞƐŽĨƚŚĞƵƚĐŚďĂŶŬƌƵƉƚĐǇ
ĚŝĚŶŽƚŚŽůĚĂŶǇƉŽǁĞƌƐǁŝƚŚƌĞƐƉĞĐƚƚŽďĂŶŬƌƵƉƚƐƵďƐŝĚŝĂ-
ƌŝĞƐŝŶŽƚŚĞƌŵĞŵďĞƌƐƚĂƚĞƐ͕ĂŶĚŝƚƉƌŽǀĞĚƚŽďĞǀĞƌǇĚŝĸĐƵůƚ
ƚŽĐŽŽƌĚŝŶĂƚĞƚŚĞƐĂůĞŽĨƚŚĞƌŝŶŐƐ͘ƐŝƚƚƵƌŶĞĚŽƵƚ͕ƚŚĞ<WE-
YǁĞƐƚŐƌŽƵƉĚŝƐŝŶƚĞŐƌĂƚĞĚĂŶĚŝƚŝƐůŝŬĞůǇƚŚĂƚƚŚĞƉƌŽĐĞĞĚƐŽĨ
ƚŚĞƐĂůĞŽĨƚŚĞĂƐƐĞƚƐǁĞƌĞŵƵĐŚůŽǁĞƌƚŚĂŶƚŚĞǇǁŽƵůĚŚĂǀĞ
ďĞĞŶŝĨƚŚĞĞŶƚĞƌƉƌŝƐĞŚĂĚďĞĞŶƐŽůĚĂƐĂǁŚŽůĞΗ͘84
K ĂƵƚŽƌ ĐŽŶĐůƵŝ ƋƵĞ Ž ƵŶŝǀĞƌƐĂůŝƐŵŽ ĨĂůŚŽƵ ŶĞƐƐĞ ĐĂƐŽ͘ ^Ğ ĨŽƐƐĞ

ĂŶĂůŝƐĂĚŽƉĞůĂĠŐŝĚĞĚŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĐŽŽƉĞƌĂƟǀŽ͕ƐĞŐƵŶĚŽŽƉƌŽĨĞƐƐŽƌ
ϴϯ͞/ƚŝƐǁŽƌƚŚŶŽƟŶŐƚŚĂƚƚŚĞĐŽƌƉŽƌĂƚĞŐƌŽƵƉƉƌŽďůĞŵŝƐĞĂƐŝůǇƐŽůǀĞĚŝŶĂĐŽŽƉĞƌĂƟǀĞƚĞƌƌŝƚŽƌŝĂůƐǇƐƚĞŵ͘ĐŽŽƉĞ-
ƌĂƟǀĞƚĞƌƌŝƚŽƌŝĂůƐǇƐƚĞŵŝƐŽŶĞŝŶǁŚŝĐŚĞĂĐŚĐŽƵŶƚƌǇ͛ƐĐŽƵƌƚƐĂĚŵŝŶŝƐƚĞƌƚŚĞĂƐƐĞƚƐůŽĐĂƚĞĚŝŶƚŚĞĐŽƵŶƚƌǇĂŶĚĂƵƚŚŽ-
ƌŝǌĞĂƌĞƉƌĞƐĞŶƚĂƟǀĞƚŽĐŽŽƉĞƌĂƚĞǁŝƚŚƌĞƉƌĞƐĞŶƚĂƟǀĞƐĂƉƉŽŝŶƚĞĚŝŶĨŽƌĞŝŐŶƉƌŽĐĞĞĚŝŶŐƐ͘/ŶĂĐŽŽƉĞƌĂƟǀĞƚĞƌƌŝƚŽƌŝĂů
ƐǇƐƚĞŵ͕ŽŶĐĞĐĂƐĞƐǁĞƌĞĮůĞĚĂŶĚƌĞƉƌĞƐĞŶƚĂƟǀĞƐĂƉƉŽŝŶƚĞĚŝŶĞĂĐŚŽĨƚŚĞĐŽƵŶƚƌŝĞƐŝŶǀŽůǀĞĚ͕ƚŚĞƌĞƉƌĞƐĞŶƚĂƟǀĞƐ
ĐŽƵůĚŵĞĞƚƚŽĚĞƚĞƌŵŝŶĞǁŚĞƚŚĞƌĐŽŽƉĞƌĂƟŽŶĐŽƵůĚŝŶĐƌĞĂƐĞƚŚĞƚŽƚĂůƌĞĐŽǀĞƌǇŽĨƚŚĞŐƌŽƵƉ͘/ŶŵŽƐƚĐĂƐĞƐ͕ƚŚĞ
ĂŶƐǁĞƌǁŽƵůĚďĞŶŽ͕ďĞĐĂƵƐĞƚŚĞŐƌŽƵƉǁĂƐĐŽŵƉĂƌƚŵĞŶƚĂůŝǌĞĚďǇĐŽƵŶƚƌǇƉƌŝŽƌƚŽďĂŶŬƌƵƉƚĐǇ͘/ĨƚŚĞĂŶƐǁĞƌǁĞƌĞ
ǇĞƐ͕ƚŚĞŶĞŐŽƟĂƚŽƌƐƐŚŽƵůĚďĞĂďůĞƚŽƌĞĂĐŚĂŐƌĞĞŵĞŶƚĨŽƌƚŚĞƐŝŵƉůĞƌĞĂƐŽŶƚŚĂƚƚŚĞǇĐŽƵůĚƐŚĂƌĞƚŚĞŝŶĐƌĞĂƐĞ
ŝŶƌĞĐŽǀĞƌǇĂŵŽŶŐƚŚĞŵ͘͟>KWh</͕>ǇŶŶD͘Η'ůŽďĂůĂŶĚKƵƚŽĨŽŶƚƌŽů͍Η. American Bankruptcy Law Journal. v.
ϳϵ;:ƵŶŚŽ͕ϮϬϬϱͿ͕Ɖ͘ϭϰͲϭϱ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϲϵϯϲϬϭх͘Acesso
Ğŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͘
ϴϰ'>E͕ZŽďĞƌƚsĂŶ͘ΗdŚĞƵƌŽƉĞĂŶ/ŶƐŽůǀĞŶĐǇZĞŐƵůĂƟŽŶĂŶĚ'ƌŽƵƉƐŽĨŽŵƉĂŶŝĞƐΗ apud>KWh</͕>ǇŶŶD͘
Η'ůŽďĂůĂŶĚKƵƚ͙Η, p. 15.

ŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽ͕ŽƉƌŽĐĞĚŝŵĞŶƚŽĚĞŝŶƐŽůǀġŶĐŝĂƐĞƌŝĂŝŶŝĐŝĂĚŽĞŵĐĂĚĂ
ƉĂşƐ;&ƌĂŶĕĂ͕ůĞŵĂŶŚĂ͕ĠůŐŝĐĂĞƚĐ͘Ϳ͕ƐĞŶĚŽĂƉŽŶƚĂĚŽƵŵĂĚŵŝŶŝƐƚƌĂĚŽƌ
ĞƐƉĞĐşĮĐŽƉĂƌĂĐĂĚĂĐĂƐŽ͘ƐƐĞƐĂĚŵŝŶŝƐƚƌĂĚŽƌĞƐƉĂƌĂůĞůŽƐƚĞƌŝĂŵŽƉŽ-
ĚĞƌ͕ƐƵũĞŝƚŽăĂƉƌŽǀĂĕĆŽĚŽƐĐƌĞĚŽƌĞƐĞĚĂŽƌƚĞůŽĐĂů͕ĚĞƐĞƵŶŝƌĞŵĞŵ
ƵŵĂǀĞŶĚĂĐŽŵƵŵĚŽƐĂƟǀŽƐĚŽŐƌƵƉŽŽƵŶĆŽ͕ƉŽĚĞŶĚŽĐĂĚĂƵŵĚĞůĞƐ
ĂǀĂůŝĂƌƐĞƚĂůĞƐĨŽƌĕŽĐŽŶũƵŶƚŽƐĞƌŝĂŝŶƚĞƌĞƐƐĂŶƚĞƉĂƌĂĂƐƵďƐŝĚŝĄƌŝĂůŽĐĂů͘
ŽŶƐŝĚĞƌĂŶĚŽƋƵĞŽƐĂĚŵŝŶŝƐƚƌĂĚŽƌĞƐďƵƐĐĂƌŝĂŵĂǀĂůŽƌŝǌĂĕĆŽĚŽƐĂƟǀŽƐ
ĚĞƐƵĂĐŽŵƉĂŶŚŝĂ͕ĞƐƐĂĂŶĄůŝƐĞŶĆŽĚĞŝǆĂƌŝĂĚĞĐŽŵƚĞŵƉůĂƌŽŝŶƚĞƌĞƐƐĞ
ĚŽƐĐƌĞĚŽƌĞƐ͘ůĠŵĚŝƐƐŽ͕ŽƐĐƌĞĚŽƌĞƐƐĂďĞƌŝĂŵƋƵĞĐĂĚĂďĞŵůŽĐĂůĞƐƚĂ-
ƌŝĂƐƵũĞŝƚŽăƐůĞŝƐĞŽƌƚĞƐĚĞƐƵĂũƵƌŝƐĚŝĕĆŽ͕ƉƌŽŵŽǀĞŶĚŽŵĂŝŽƌƐĞŐƵƌĂŶĕĂ
ũƵƌşĚŝĐĂ͘ŽŵďĂƐĞŶĞƐƚĞĞǆĞŵƉůŽ͕ĐŽŶĐůƵŝ͗
ΗǇĐŽŶƚƌĂƐƚ͕ŝŶĂƵŶŝǀĞƌƐĂůŝƐƚƐǇƐƚĞŵ͕ĐƌĞĚŝƚŽƌƐŵƵƐƚĐŽŶĐĞƌŶ
ƚŚĞŵƐĞůǀĞƐ ŶŽƚ ŽŶůǇ ǁŝƚŚ ƚŚĞ ĚĞƐŝƌĂďŝůŝƚǇ ŽĨ ƚŚĞ ĐŽŵŵŽŶ
ƐĂůĞďƵƚĂůƐŽǁŝƚŚǁŚŝĐŚĐŽƵƌƚǁŝůůĐŽŶĚƵĐƚŝƚ͘/ƚŵŝŐŚƚďĞŝŶĂ
ŐƌŽƵƉŽĨĐƌĞĚŝƚŽƌƐ͛ŝŶƚĞƌĞƐƚƐƚŽŽƉƉŽƐĞĂŶĂĚǀĂŶƚĂŐĞŽƵƐƐĂůĞ
ďǇ ƚŚĞ ĐŽƵƌƚ ŽĨ Ă ĐŽƵŶƚƌǇ ƚŚĂƚ ǁŽƵůĚ ĂĐĐŽƌĚ ƚŚĞ ƉĂƌƟĐƵůĂƌ
ŐƌŽƵƉŽĨĐƌĞĚŝƚŽƌƐĂůŽǁƉƌŝŽƌŝƚǇ͘/ŶĂĐŽŽƉĞƌĂƟǀĞƚĞƌƌŝƚŽƌŝĂů
ƐǇƐƚĞŵ͕ǀĞŶƵĞǁŽƵůĚŶĞǀĞƌďĞĂŶŝƐƐƵĞ͘sĞŶƵĞǁŝƚŚƌĞƐƉĞĐƚ
ƚŽĂŶǇƉĂƌƟĐƵůĂƌĂƐƐĞƚǁŽƵůĚďĞŝŶƚŚĞĐŽƵƌƚƐŽĨƚŚĞĐŽƵŶƚƌǇ
ƚŚĂƚĚĂŚƉŽǁĞƌŽǀĞƌƚŚĞĂƐƐĞƚďǇƐŽǀĞƌĞŝŐŶ͘Η85
EŽƚĂͲƐĞƋƵĞƚĂŶƚŽŽƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽƋƵĂŶƚŽŽƚĞƌƌŝƚŽƌŝĂ-
ůŝƐŵŽĐŽŽƉĞƌĂƟǀŽƉŽƐƐƵĞŵĞůĞŵĞŶƚŽƐĐŽŵƵŶƐ͕ŵĂƐŶĆŽƐĞĐŽŶĨƵŶĚĞŵ͘
WĂƌĂŽƉƌŽĨĞƐƐŽƌ:ĂǇtĞƐƚďƌŽŽŬ͕a principal diferença entre as aborda-
ŐĞŶƐĠƋƵĞŽƵŶŝǀĞƌƐĂůŝƐŵŽŵŽĚŝĮĐĂĚŽƉŽƐƐƵŝƵŵĂƉĞƌƐƉĞĐƟǀĂŵƵŶĚŝĂů͕
ďƵƐĐĂŶĚŽƐŽůƵĕĆŽƋƵĞƐĞĂƉƌŽǆŝŵĂĚŽƐŽŶŚŽĚĞƵŵĂƷŶŝĐĂůĞŝĞũƵƌŝƐĚŝ-
ĕĆŽ͕ĞŶƋƵĂŶƚŽƋƵĞŽƚĞƌƌŝƚŽƌŝĂůŝƐŵŽĐŽŽƉĞƌĂƟǀŽƉĂƌĞĐĞĐŽŶĨĞƌŝƌĚŝƌĞŝƚŽƐ
adquiridos para os credores locais sobre quaisquer bens que vierem a
ƐĞƌĐŽŶĮƐĐĂĚŽƐŶŽƉƌŽĐĞƐƐŽůŽĐĂů86͘:ĄƉĂƌĂ>ǇŶŶ>ŽWƵĐŬŝ͕ĂŐƌĂŶĚĞǀĂŶ-
ƚĂŐĞŵĚĞƐĞƵŵŽĚĞůŽĠƋƵĞĞůĞŶĆŽƌĞƋƵĞƌĐŽŽƉĞƌĂĕĆŽĂůĠŵĚĂƋƵĞũĄ
ĞǆŝƐƚĞ͕ƉƌŽŵŽǀĞŶĚŽƵŵĂƉůĂƚĂĨŽƌŵĂĞƐƚĄǀĞůƉĂƌĂƚƌĂƚĂĚŽƐĞĐŽŶǀĞŶĕƁĞƐ
ƋƵĞůŝĚĞŵĐŽŵŽƉŽƌƚƵŶŝĚĂĚĞƐĞƐƉĞĐşĮĐĂƐƉĂƌĂďĞŶĞİĐŝŽŵƷƚƵŽĚĞƚŽ-
dos os envolvidos87͘^ĂůŝĞŶƚĞͲƐĞƋƵĞĂƉŽƐŝĕĆŽĚĞ:ĂǇtĞƐƚďƌŽŽŬƌĞĐĞ-
ϴϱ>KWh</͕>ǇŶŶD͘ΗGlobal and Out…Η͕Ɖ͘ϭϱ͘
ϴϲt^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘Η'ůŽďĂů^ŽůƵƟŽŶƚŽ͙Η͕Ɖ͘ϮϯϬϮ͘
ϴϳ>KWh</͕>ǇŶŶD͘ΗUniversalism Unravels…Η͕Ɖ͘Ϯϰ͘

beu apoio, no simpósio ĚĂhŶŝǀĞƌƐŝĚĂĚĞĚĞDŝĐŚŝŐĂŶ͕ĚĞĚŽƵƚƌŝŶĂĚŽƌĞƐ
renomados, como, v.g.͕ ĚŽ ƉƌŽĨĞƐƐŽƌ ŶĚƌĞǁ d͘ 'ƵǌŵĂŶ88, inobstante
ŚŽƵǀĞƐƐĞĂůŐƵŵĂƐĚŝǀĞƌŐġŶĐŝĂƐ89.
ŽƵƚƌŽŐŝƌŽ͕ŶĆŽƐĞƉŽĚĞƌŝĂĚĞŝǆĂƌĚĞƌĞŐŝƐƚƌĂƌŽƐŝƐƚĞŵĂƐƵŐĞƌŝĚŽ
ƉĞůŽƉƌŽĨĞƐƐŽƌŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽZŽďĞƌƚ<͘ZĂƐŵƵƐƐĞŶ͕ĚĞƐĞŶǀŽůǀŝĚŽŝŶŝ-
ĐŝĂůŵĞŶƚĞƚĂŵďĠŵŶĂĚĠĐĂĚĂĚĞϵϬ90͘^ĞƵŵŽĚĞůŽĮĐŽƵĐŽŶŚĞĐŝĚŽĐŽŵŽ
ŽŶƚƌĂƚƵĂůŝƐŵŽ ;ContractualismͿ͕ ƉŽƌ ƉĞƌŵŝƟƌ ĂŽ ĚĞǀĞĚŽƌ ĞƐĐŽůŚĞƌ͕ ƉŽƌ
ǀŝĂ ĐŽŶƚƌĂƚƵĂů͕ Ž ĨŽƌŽ ĐŽŵƉĞƚĞŶƚĞ Ğ Ă ůĞŝ ĂƉůŝĐĄǀĞů ĂŽ ƉƌŽĐĞĚŝŵĞŶƚŽ ĚĞ
ŝŶƐŽůǀġŶĐŝĂ͘ĂĚĂƐŽĐŝĞĚĂĚĞĞƐƚĂƌŝĂůŝǀƌĞƉĂƌĂĞƐĐŽůŚĞƌŽƌĞŐŝŵĞĨĂůŝŵĞŶ-
tar ou recuperacional, devendo tal decisão ser tomada no momento da
ĐŽŶƐƟƚƵŝĕĆŽ;ŝŶĐŽƌƉŽƌĂƟŽŶͿĞĞƐƚĂƌƉƌĞǀŝƐƚĂĞŵƐĞƵĐŽŶƚƌĂƚŽ͕ƐſƉŽĚĞŶĚŽ
ƐĞƌĂůƚĞƌĂĚĂĐŽŵŽĐŽŶƐĞŶƟŵĞŶƚŽƵŶąŶŝŵĞĚŽƐĐƌĞĚŽƌĞƐ91͗
ΗdƌĂŶƐŶĂƟŽŶĂůďĂŶŬƌƵƉƚĐŝĞƐĂƌĞďĞĐŽŵŝŶŐĂŶĞǀĞƌŝŶĐƌĞĂƐŝŶŐ
ĞǀĞŶƚŝŶƚŚĞŐůŽďĂů ĞĐŽŶŽŵǇ͘dŽĚĂƚĞ͕ƚŚĞůĞŐĂůƌĞŐŝŵĞŚĂƐ
ƌĞƐƉŽŶĚĞĚƚŽƚŚĞƉƌŽďůĞŵďǇĞŝƚŚĞƌŝŐŶŽƌŝŶŐŝƚ͕ŽƌƚŚƌŽƵŐŚ
ŵŽĚĞƐƚĞīŽƌƚƐĂƚŐŽǀĞƌŶŵĞŶƚĂůƌĞŐƵůĂƟŽŶ͘ŽƚŚƌĞƐƉŽŶƐĞƐ
ĂƌĞƵŶƐĂƟƐĨĂĐƚŽƌǇ͘/ĚĞĂůůǇ͕ŝĨĐŽƵŶƚƌŝĞƐǁŽƵůĚĨŽƌŐŽƚŚĞŝƌŝŶƐŝƐ-
ƚĞŶĐĞŽŶŵĂŶĚĂƟŶŐƚŚĞĐŽŶƚĞŶƚŽĨƚŚĞďĂŶŬƌƵƉƚĐǇůĂǁ͕ĞĂĐŚ
ĮƌŵǁŽƵůĚ͕ĂƚƚŚĞƟŵĞŽĨŝƚƐĨŽƌŵĂƟŽŶ͕ƐĞůĞĐƚŝƚƐŝŶƐŽůǀĞŶĐǇ
ƌĞŐŝŵĞĨƌŽŵĂŵĞŶƵŽĨďĂŶŬƌƵƉƚĐǇŽƉƟŽŶƐ͘
^ƵĐŚĨƵŶĚĂŵĞŶƚĂůĐŚĂŶŐĞŝŶƚƌĂŶƐŶĂƟŽŶĂůďĂŶŬƌƵƉƚĐǇ͕ǁŚŝůĞ
ϴϴ ͞ůƚŚŽƵŐŚ WƌŽĨĞƐƐŽƌ tĞƐƚďƌŽŽŬ ĂŶĚ / ĂƉƉƌŽĂĐŚ ƚŚĞ ƐƵďũĞĐƚ ŽĨ ŝŶƚĞƌŶĂƟŽŶĂů ďĂŶŬƌƵƉƚĐŝĞƐ ĨƌŽŵ ƐŽŵĞǁŚĂƚ Ěŝ-
īĞƌĞŶƚƉĞƌƐƉĞĐƟǀĞƐ͕ǁĞŚŽůĚǀĞƌǇƐŝŵŝůĂƌǀŝĞǁƐŽĨƚŚĞƉƌĞĨĞƌƌĞĚƉŽůŝĐǇƉƌĞƐĐƌŝƉƟŽŶ͘tŝƚŚƚŚŝƐŝŶŵŝŶĚ͕ĂŶĚŝŶƚŚĞ
ŝŶƚĞƌĞƐƚŽĨƐƉĂĐĞ͕/ǁŝůůŶŽƚĂĚĚƌĞƐƐŚŝƐĂƌŐƵŵĞŶƚƐĚŝƌĞĐƚůǇŝŶƚŚŝƐƌƟĐůĞ͘/Ĩ/ĚŝĚ͕ŝƚǁŽƵůĚďĞƉƌŝŵĂƌŝůǇƚŽĞǆƉƌĞƐƐŵǇ
ƐƵƉƉŽƌƚĨŽƌŚŝƐǀŝĞǁƐ͘͟'hDE͕ŶĚƌĞǁd͘/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͗/ŶĞĨĞŶƐĞŽĨhŶŝǀĞƌƐĂůŝƐŵ͘ĞƌŬĞůĞǇ>Ăǁ
^ĐŚŽůĂƌƐŚŝƉZĞƉŽƐŝƚŽƌǇ͕Ɖ͘ϮϭϴϬ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƐĐŚŽůĂƌƐŚŝƉ͘ůĂǁ͘ďĞƌŬĞůĞǇ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϮ
ϳϱϴΘĐŽŶƚĞǆƚсĨĂĐƉƵďƐх͘ĐĞƐƐŽĞŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͘
ϴϵ͞WƌŽĨĞƐƐŽƌ'ƵǌŵĂŶŝƐĂƚŚŽƌŽƵŐŚͲŐŽŝŶŐƵŶŝǀĞƌƐĂůŝƐƚǁŚŽŝƐŶŽƚĐŽŵŵŝƩĞĚƚŽĂĐŽŶƚƌĂĐƚƵĂůƐŽůƵƟŽŶƚŽƚŚĞŝŶƚĞƌ-
ŶĂƟŽŶĂůďĂŶŬƌƵƉƚĐǇƉƌŽďůĞŵ͕ƐŽ/ďĞŐŝŶďǇĂŐƌĞĞŝŶŐǁŝƚŚŵĂŶǇŽĨƚŚĞƉŽŝŶƚƐŚĞŵĂŬĞƐ͘,ŝƐĂƌƟĐůĞŝƐĚĞǀŽƚĞĚƚŽƚŚĞ
ĞĸĐŝĞŶĐǇĂƌŐƵŵĞŶƚƐƚŚĂƚƚƵƌŶŽŶƚŚĞƌĞĚƵĐƟŽŶŽĨĐŽƐƚƐĂƐĂĨƵŶĐƟŽŶŽĨƉƌĞĚŝĐƚĂďŝůŝƚǇŽĨƌĞƐƵůƚ͘/ůĂƌŐĞůǇĂŐƌĞĞǁŝƚŚ
ƚŚŽƐĞĂƌŐƵŵĞŶƚƐ͕ďƵƚ/ŵƵƐƚĚŝƐĂŐƌĞĞǁŝƚŚŚŝŵŝŶƚǁŽƌĞƐƉĞĐƚƐ͗ƚŚĞƐĞĂƌŐƵŵĞŶƚƐĂƌĞŶŽƚŶĞǁƚŽƚŚĞůŝƚĞƌĂƚƵƌĞĂŶĚ
ƚŚĞǇŚĂǀĞƉƌŽďĂďůǇďĞĞŶŽǀĞƌƐƚĂƚĞĚ͘͟t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘'ůŽďĂů^ŽůƵƟŽŶƚŽ͙, p. 2326.
ϵϬ sĞũĂͲƐĞ͗ Z^Dh^Ê͕ ZŽďĞƌƚ <͘ Debtor’s Choice: A Menu Approach to Corporate Bankruptcy͘ ϳϭ dĞǆĂƐ >Ăǁ
ZĞǀŝĞǁ͕ ϳϭ͗ϱϭ͕ ϭϵϵϮͲϭϵϵϯ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘ũŽƵƌŶĂůƐͬ
ƚůƌϳϭΘĚŝǀсϵΘŝĚсΘƉĂŐĞсх͘ĐĞƐƐŽĞŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͖Z^Dh^Ê͕ZŽďĞƌƚ<͘EĞǁƉƉƌŽĂĐŚƚŽdƌĂŶƐŶĂƟŽŶĂů/ŶƐŽů-
vencies. ϭϵDŝĐŚŝŐĂŶ:ŽƵƌŶĂůŽĨ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ͕ǀ͘ϭϵ͗ϭ͕ϭϵϵϳͲϭϵϵϴ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ
>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘ũŽƵƌŶĂůƐͬŵũŝůϭϵΘĚŝǀсϴΘŝĚсΘƉĂŐĞсх͘ĐĞƐƐŽĞŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͖ĞZ^Dh^Ê͕ZŽďĞƌƚ<͘
ZĞƐŽůǀŝŶŐdƌĂŶƐŶĂƟŽŶĂů/ŶƐŽůǀĞŶĐŝĞƐdŚƌŽƵŐŚWƌŝǀĂƚĞKƌĚĞƌŝŶŐ͘DŝĐŚŝŐĂŶ>ĂǁZĞǀŝĞǁ͕ǀ͘ϵϴ;ϮϬϬϬͿ͘ŝƐƉŽŶşǀĞůĞŵ͗
фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϮϱϲϰϳϯх͘ĐĞƐƐŽĞŵ͗ϭϲ͘Ϭϱ͘ϮϬϭϲ͘
ϵϭ͞KƚŚĞƌĐŚĂŶŐĞƐŝŶƚŚĞďĂŶŬƌƵƉƚĐǇƚĞƌŵǁŽƵůĚďĞŵŽƌĞƉƌŽďůĞŵĂƟĐ͘ƐĚĞƐĐƌŝďĞĚĂďŽǀĞ͕ĂĮƌŵƐŚŽƵůĚŶŽƚŚĂǀĞ
ĐŽŵƉůĞƚĞĨƌĞĞĚŽŵƚŽĐŚĂŶŐĞĨƌŽŵĂŚĂƉƚĞƌϳͲŽŶůǇƐĞůĞĐƟŽŶƚŽĂŚĂƉƚĞƌϭϭƐĞůĞĐƟŽŶ͘zĞƚĂƚƟŵĞƐƐƵĐŚĂĐŚĂŶŐĞ
ŵĂǇďĞŶĞĐĞƐƐĂƌǇŐŝǀĞŶƚŚĞĐŚĂŶŐĞŝŶƚŚĞŶĂƚƵƌĞŽĨƚŚĞĮƌŵ͘&ŽƌĞǆĂŵƉůĞ͕ĂƉƵďůŝĐůǇŚĞůĚĮƌŵŐŽŝŶŐƉƌŝǀĂƚĞŝŶĂ
ůĞǀĞƌĂŐĞĚďƵǇŽƵƚŵŝŐŚƚĮŶĚĂŚĂƉƚĞƌϭϭƉƌŽĐĞĞĚŝŶŐƚŽďĞƚŚĞŽƉƟŵĂůďĂŶŬƌƵƉƚĐǇƚĞƌŵ͘/ŶƚŚŝƐƐŝƚƵĂƟŽŶ͕ĐŚĂŶŐĞ
ŝŶƚŚĞĐŽƌƉŽƌĂƚĞĐŚĂƌƚĞƌƐŚŽƵůĚďĞĂůůŽǁĞĚŽŶůǇǁŝƚŚƚŚĞĐŽŶƐĞŶƚŽĨĂůůŽĨƚŚĞĐƌĞĚŝƚŽƌƐ͘͟Z^Dh^Ê͕ZŽďĞƌƚ<͘
ĞďƚŽƌ͛ƐŚŽŝĐĞ͙, p. 118.

ŶŽƌŵĂƟǀĞůǇĚĞƐŝƌĂďůĞ͕ŝƐƵŶůŝŬĞůǇƚŽŽĐĐƵƌŝŶƚŚĞŶĞĂƌĨƵƚƵƌĞ͘
ƵƌƌĞŶƚŶŽƌŵƐŽĨƉƌŝǀĂƚĞŝŶƚĞƌŶĂƟŽŶĂůůĂǁ͕ŚŽǁĞǀĞƌ͕ƉƌŽǀŝĚĞĂ
ǀĞŚŝĐůĞĨŽƌŝŵƉƌŽǀŝŶŐƚŚĞĞǆƚĂŶƚƐƚĂƚĞŽĨĂīĂŝƌƐ͘ŽƵƌƚƐƐŚŽƵůĚ
ĞŶĨŽƌĐĞƉƌŽǀŝƐŝŽŶƐŝŶĐŽƌƉŽƌĂƚĞĐŚĂƌƚĞƌƐǁŚŝĐŚƐƉĞĐŝĨǇǁŚŝĐŚ
ĐŽƵŶƚƌǇ͛ƐŽƌĐŽƵŶƚƌŝĞƐ͛ďĂŶŬƌƵƉƚĐǇůĂǁƐŚŽƵůĚĂƉƉůǇǁŚĞŶƚŚĞ
Įƌŵ ĞŶĐŽƵŶƚĞƌƐ ĮŶĂŶĐŝĂů ĚŝƐƚƌĞƐƐ͘ ĚŚĞƌŝŶŐ ƚŽ ƉĂƌƚǇ ĐŚŽŝĐĞ
ǁŽƵůĚƌĞƉůĂĐĞƚŚĞĐƵƌƌĞŶƚŵƵĚĚůĞŽĨůĂǁƐƐƵƌƌŽƵŶĚŝŶŐƚƌĂŶƐ-
ŶĂƟŽŶĂůŝŶƐŽůǀĞŶĐŝĞƐǁŝƚŚĂŵŽƌĞĐŽŚĞƌĞŶƚĂƉƉƌŽĂĐŚΗ͘92
ŶĂůŝƐĂŶĚŽ Ă ƉƌŽƉŽƐƚĂ ĚŽ ƉƌŽĨĞƐƐŽƌ ZŽďĞƌƚ ZĂƐŵƵƐƐĞŶ͕ :ĂǇ tĞƐ-
ƚďƌŽŽŬĞůŽŐŝĂŽĨĂƚŽĚĞƋƵĞĂƚĞŽƌŝĂŶĆŽĚĞŝǆŽƵĚĞůŝĚĂƌĐŽŵĂƋƵĞƐƚĆŽ
ĚĂĞǆĞĐƵĕĆŽĚĞƐƐĞƌĞŐŝŵĞĐŽŶƚƌĂƚƵĂůĚŽĚĞǀĞĚŽƌƉĞůĂƐŽƌƚĞƐŶĂĐŝŽŶĂŝƐ͕
ƵŵĂǀĞǌƋƵĞƉƌŽƉƵŶŚĂƐŽůƵĕƁĞƐƉĂƌĂĞƐƐĞƌĞĐŽŶŚĞĐŝŵĞŶƚŽ͕ƉŽƌĠŵĂĐƌŝ-
ƟĐŽƵƉŽƌŶĆŽŽĨĞƌĞĐĞƌƵŵĂƉƌŽƚĞĕĆŽĞĨĞƟǀĂĂŽĐŽŶƚƌŽůĞĚĞďĞŶƐĞƉƌŝŽ-
ƌŝĚĂĚĞƐĚŽƐĐƌĞĚŽƌĞƐ͕ďĞŵĐŽŵŽƉŽƌĐĂƌĞĐĞƌĚĞƚƌĂŶƐƉĂƌġŶĐŝĂĂĚĞƋƵĂĚĂ
ƉĂƌĂƉƌŽĐĞƐƐŽƐĚĞƐƐĂŶĂƚƵƌĞǌĂ͗
ΗKŶĞŽĨƚŚĞĂƩƌĂĐƟǀĞĞůĞŵĞŶƚƐŝŶWƌŽĨĞƐƐŽƌZĂƐŵƵƐƐĞŶ͛ƐĂƉ-
ƉƌŽĂĐŚŝƐƚŚĂƚŚĞĚŽĞƐŶŽƚĨŽƌŐĞƚƚŚĂƚŐŽǀĞƌŶŵĞŶƚǁŝůůŚĂǀĞ
ƚŽ ĞŶĨŽƌĐĞ ƚŚĞ ƌĞŐŝŵĞ ŚĞ ƉƌŽƉŽƐĞƐ͘ ŶŽƚŚĞƌ ĂƩƌĂĐƟǀĞ ĞůĞ-
ŵĞŶƚŝƐƚŚĂƚƚŚĞůĂǁŵĂŬĞƌ͛ƐũŽďŝƐǀĞƌǇƐŝŵƉůĞ͘dŚƵƐ͕ĂŶŝŶƚĞƌ-
ŶĂƟŽŶĂů ĐŽŶǀĞŶƟŽŶ ǁŽƵůĚ ƉƌĞƐƵŵĂďůǇ ƉƌŽǀŝĚĞ ƚŚĂƚ Ăůů ƚŚĞ
ĐŽŶƚƌĂĐƟŶŐ ĐŽƵŶƚƌŝĞƐ ǁŽƵůĚ ĞŶĨŽƌĐĞ ƚŚĞ ƌĞƋƵŝƌĞŵĞŶƚ ƚŚĂƚ
ĞǀĞƌǇĐŽŵƉĂŶǇ͛ƐĂƌƟĐůĞŽĨŝŶĐŽƌƉŽƌĂƟŽŶĐŽŶƚĂŝŶĂĐŚŽŝĐĞͲŽĨ-
ͲďĂŶŬƌƵƉƚĐǇƉƌŽĐĞĚƵƌĞĨƌŽŵƚŚĞŵĞŶƵĂŶĚƚŚĂƚƚŚĞĐŚŽŝĐĞ
ĐŽƵůĚďĞŶŽƚĐŚĂŶŐĞĚǁŝƚŚŽƵƚƚŚĞĂŐƌĞĞŵĞŶƚŽĨĞǀĞƌǇĐƌĞ-
ĚŝƚŽƌ ΀͙΁͘ / ǁŝůů ĂĚĚƌĞƐƐ͕ ŚŽǁĞǀĞƌ͕ ƚǁŽ ŽďũĞĐƟŽŶ ƚŚĂƚ ŚĂǀĞ
ƉĂƌƟĐƵůĂƌƐĂůŝĞŶĐǇŝŶƚĞƌŶĂƟŽŶĂůůǇ͘
ůůĐŽŶƚƌĂĐƚƵĂůĂƉƉƌŽĂĐŚĞƐƚŽůĂǁƌĞƐƚŽŶƚŚĞďĂƐŝĐĂƌŐƵŵĞŶƚ
ƚŚĂƚ͕ ĂƐƐƵŵŝŶŐ Ă ƉĞƌĨĞĐƚ ŵĂƌŬĞƚ ĂŶĚ ŶŽ ƚƌĂŶƐĂĐƟŽŶ ĐŽƐƚƐ͕
ƉĂƌƟĞƐǁŝůůĂůǁĂǇƐĂĚŽƉƚƚŚĞŵŽƐƚĞĸĐŝĞŶƚďĂƌŐĂŝŶ͘dŚĞƌĞ-
ĨŽƌĞ͕ĂŶǇůĞŐĂůĐŽŶƐƚƌĂŝŶƚŽŶƚŚĂƚďĂƌŐĂŝŶŵƵƐƚďĞŝƌƌĞůĞǀĂŶƚ
ŽƌŝŶĞĸĐŝĞŶƚ͘dŚĞĐŽŶƐƚƌĂŝŶƚŝƐŝƌƌĞůĞǀĂŶƚƚŽƚŚĞĞǆƚĞŶƚŝƚƉĞƌ-
ŵŝƚƐƚŚĞďĂƌŐĂŝŶƚŽďĞƐƚƌƵĐŬ͕ĂŶĚŝŶĞĸĐŝĞŶƚƚŽƚŚĞĞǆƚĞŶƚŝƚ
ĐŚĂŶŐĞƐƚŚĞƚĞƌŵƐŽĨƚŚĞƉƌŝǀĂƚĞďĂƌŐĂŝŶ͘/ŶƚŚĞĚĞďƚŽƌͲĐƌĞĚŝ-
ƚŽƌĐŽŶƚĞǆƚ͕ƚŚŝƐƐǇůůŽŐŝƐŵƐƵƉƉŽƌƚƐĂďĂŶŬƌƵƉƚĐǇůĂǁƚŚĂƚŚĂƐ
ůŝƩůĞŽƌŶŽĐŽŶƚĞŶƚ͕ĞǆĐĞƉƚƚŽĞŶĨŽƌĐĞƚŚĞďĂƌŐĂŝŶďĞƚǁĞĞŶ
ϵϮZ^Dh^Ê͕ZŽďĞƌƚ<͘EĞǁƉƉƌŽĂĐŚƚŽ͙͕ p. 36.

ƚŚĞ ƉĂƌƟĞƐ͘ /Ŷ ǀĞƌǇ ďƌŝĞĨ ƐƵŵŵĂƌǇ͕ ƚǁŽ ŽĨ ƚŚĞ ŬĞǇ ŇĂǁƐ ŝŶ
ĂŶǇĐŽŶƚƌĂĐƚƵĂůĂƉƉƌŽĂĐŚĂƌĞůĂĐŬŽĨĂƐƐĞƚĐŽŶƚƌŽů;ŝŶĐůƵĚŝŶŐ
ƉƌŽƚĞĐƟŽŶŽĨĐƌĞĚŝƚŽƌƉƌŝŽƌŝƚǇͿĂŶĚƚŚĞĚŝĸĐƵůƚŽĨĚŝƐĐůŽƐƵƌĞ
;Žƌ͞ƚƌĂŶƐƉĂƌĞŶĐǇ͟ͿΗ͘ 93
WŽƌŽƵƚƌŽůĂĚŽ͕>ǇŶŶ>ŽWƵĐŬŝƌĞĐŽŶŚĞĐĞƋƵĞĞƐƐĞƌĞŐŝŵĞĐŽŶƚƌĂƚƵ-
Ăů͕ƉƌĞǀŝƐƚŽŶŽĂƚŽĚĞĐŽŶƐƟƚƵŝĕĆŽĚĂƐŽĐŝĞĚĂĚĞ͕ĐŽŵĞĨĞŝƚŽ͕ĞŶĐŽƌĂũĂƌŝĂ
ŽĚĞǀĞĚŽƌĂŝŶŝĐŝĂƌŽƉƌŽĐĞĚŝŵĞŶƚŽĚĞŝŶƐŽůǀġŶĐŝĂŶŽƉĂşƐƋƵĞƉŽƐƐƵşƐƐĞ
ĂůĞŝĨĂůŝŵĞŶƚĂƌŽƵƌĞĐƵƉĞƌĂĐŝŽŶĂůŵĂŝƐĞĮĐŝĞŶƚĞĞĞǀŝƚĂƌŝĂŽforum shop-
ping͘ŽŶƚƵĚŽ͕ŽĂƵƚŽƌŽĐƌŝƟĐŽƵƉŽƌĂƵŵĞŶƚĂƌŽƐĐƵƐƚŽƐĚĂĐŽŶƚƌĂƚĂĕĆŽ͕
ĞǆĐůƵŝŶĚŽ ĂůŐƵŵĂƐ ƉĂƌƚĞƐ ŝŶƚĞƌĞƐƐĂĚĂƐ ĚĂ ƉĂƌƟĐŝƉĂĕĆŽ ŶĂ ĐŽŶƚƌĂƚĂĕĆŽ͕
ďĞŵ ĐŽŵŽ ƉĞůŽ ĨĂƚŽ ĚĞ ƋƵĞ ŽƐ ĐƌĞĚŽƌĞƐ ŝŶǀŽůƵŶƚĄƌŝŽƐ ĚŽ ĚĞǀĞĚŽƌ ŶĆŽ
ƉŽƐƐƵŝƌŝĂŵĂŽƉŽƌƚƵŶŝĚĂĚĞĚĞŶĞŐŽĐŝĂƌ͗
ΗZĂƐŵƵƐƐĞŶĐůĂŝŵƐƚŚĂƚŚŝƐƐǇƐƚĞŵƉƌŽǀŝĚĞƐĂƐŝŶŐůĞ͕ĂůůͲĞŶ-
ĐŽŵƉĂƐƐŝŶŐĂĚǀĂŶƚĂŐĞ͗ŝƚĞŶĐŽƵƌĂŐĞƐƚŚĞĚĞďƚŽƌƚŽĮůĞŝŶƚŚĞ
ĐŽƵŶƚƌǇǁŝƚŚƚŚĞŵŽƐƚĞĸĐŝĞŶƚďĂŶŬƌƵƉƚĐǇůĂǁ͘΀͙΁΀ŝƚ΁ĂůƐŽ
ǁŽƵůĚĂůůĞǀŝĂƚĞƚŚĞƉƌŽďůĞŵŽĨĨŽƌƵŵƐŚŽƉƉŝŶŐ͘΀͙΁͘
dŚĞƐǇƐƚĞŵZĂƐŵƵƐƐĞŶƉƌŽƉŽƐĞƐĨŽƌŝŶƚĞƌŶĂƟŽŶĂůďĂŶŬƌƵƉƚĐǇ
ƐƵīĞƌƐĨƌŽŵƚŚĞƐĂŵĞƚǁŽƉƌŽďůĞŵƐƚŚĂƚƌĞŶĚĞƌĐŽŶƚƌĂĐƚďĂŶŬ-
ƌƵƉƚĐǇƉƌŽďůĞŵĂƟĐ͘&ŝƌƐƚ͕ƚŚĞĐŽƐƚŽĨĐŽŶƚƌĂĐƟŶŐǁŽƵůĚďĞƐƵĨ-
ĮĐŝĞŶƚůǇŚŝŐŚƚŽĞīĞĐƟǀĞůǇĞǆĐůƵĚĞŵĂŶǇŝŶƚĞƌĞƐƚĞĚƉĂƌƟĞƐĨƌŽŵ
ŵĞĂŶŝŶŐĨƵů ƉĂƌƟĐŝƉĂƟŽŶ ŝŶ ƚŚĞ ĐŽŶƚƌĂĐƟŶŐ ƉƌŽĐĞƐƐ͘ ^ĞĐŽŶĚ͕
ŝŶǀŽůƵŶƚĂƌǇĐƌĞĚŝƚŽƌƐĚŽŶŽƚŚĂǀĞƚŚĞŽƉƉŽƌƚƵŶŝƚǇƚŽĐŽŶƚƌĂĐƚ͘
ŝƚŚĞƌƉƌŽďůĞŵĐĂŶůĞĂĚƚŽƚŚĞŵŝƐĂůůŽĐĂƟŽŶŽĨƌĞƐŽƵƌĐĞƐ͘Η 94
WŽƌ Įŵ͕ ĐƵŵƉƌĞ ĚĞƐƚĂĐĂƌ Ă ƉŽƐŝĕĆŽ ĚŽ ƉƌŽĨĞƐƐŽƌ ŚŽůĂŶĚġƐ Žď

tĞƐƐĞůƐ͘KŵŽĚĞůŽƋƵĞĞůĞĂĚŽƚĂŶĂĚĂŵĂŝƐĠĚŽƋƵĞƵŵĂŝŶƚĞƌƉƌĞƚĂĕĆŽĞ
defesa95 do sistema que entrou em vigor na Europa após a elaboração do
ZĞŐƵůĂŵĞŶƚŽ ;Ϳ ŶǑ ϭϯϰϲͬϮϬϬϬ ĚŽ ŽŶƐĞůŚŽ͕ ĚŝƉůŽŵĂ ƋƵĞ ĂƚƵĂůŵĞŶƚĞ
ƌĞŐĞĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂůŶĂŽŵƵŶŝĚĂĚĞƵƌŽƉĞŝĂ͘ŽĂŶĂůŝƐĂƌŽƐ
ƌĞŐƌĂŵĞŶƚŽƐŶĞůĞĐŽŶƟĚŽƐ96͕ŽƉƌŽĨĞƐƐŽƌŚŽůĂŶĚġƐƌĞĐŽŶŚĞĐĞƵŵǀĞƌĚĂ-
ϵϯt^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘'ůŽďĂů^ŽůƵƟŽŶƚŽ͙, p. 2303.
ϵϰ>KWh</͕>ǇŶŶD͘ΗŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͙Η, p. 738.
ϵϱŽŶĨŽƌŵĞůŝĕĆŽĚĞWĂƵůŽ&ĞƌŶĂŶĚĂĂŵƉĂŶĂ&ŝůŚŽ͕Ž͞ŵŽĚĞůŽ΀ĚĞŽďtĞƐƐĞůƐ΁ƐƵƌŐŝƵĞŵĚĞĨĞƐĂĚŽƐŝƐƚĞŵĂ
ĞƵƌŽƉĞƵ͕ĂƉſƐtĞƐƚďƌŽŽŬŽƚĞƌĐƌŝƟĐĂĚŽ͕ĐŚĂŵĂŶĚŽͲŽĚĞ͚ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽŵŽĚŝĮĐĂĚŽ͛͘͟DWE&/>,K͕WĂƵůŽ&Ğƌ-
ŶĂŶĚŽ͘ Η ƌĞĐƵƉĞƌĂĕĆŽ :ƵĚŝĐŝĂů ĚĞ 'ƌƵƉŽƐ ^ŽĐŝĞƚĄƌŝŽƐ DƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕ Ɖ͘ ϵϮ͘ WĂƌĂ ŵĂŝŽƌĞƐ ĚĞƚĂůŚĞƐ͕ ĐŽŶƐƵůƚĞ͗
t^dZKK<͕:ĂǇ>ĂǁƌĞŶĐĞ͘hŶŝǀĞƌƐĂůWƌŝŽƌŝƟĞƐ͘dĞǆĂƐ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ:ŽƵƌŶĂů͕ǀ͘ϯϯ͕Ɖ͘ϮϳͲϰϱ͕ϭϵϵϴ͘
ϵϲ^ĞŐƵĞŵĂůŐƵŶƐĚŽƐƌĞŐƌĂŵĞŶƚŽƐĂŶĂůŝƐĂĚŽƐƉĞůŽƉƌŽĨĞƐƐŽƌŚŽůĂŶĚġƐƉĂƌĂĞůĂďŽƌĂĕĆŽĚĞƐƵĂƚĞŽƌŝĂ͗͞/ƚŝƐŵĂŝŶ-
ůǇ ŝŶ ƚŚĞ ƉŽǁĞƌ ŽĨ ƚŚĞ ůŝƋƵŝĚĂƚŽƌ ŝŶ ƚŚĞ ŵĂŝŶ ŝŶƐŽůǀĞŶĐǇ ƉƌŽĐĞĞĚŝŶŐƐ ƚŽ ĞǆĞƌĐŝƐĞ ŵĞĂƐƵƌĞƐ ĨŽƌ ĐŽŽƌĚŝŶĂƟŽŶ͕ Ğ͘Ő͘
ŚĞŵĂǇƌĞƋƵĞƐƚƚŚĞŽƉĞŶŝŶŐŽĨƐĞĐŽŶĚĂƌǇƉƌŽĐĞĞĚŝŶŐƐŝŶŽƚŚĞƌŵĞŵďĞƌƐƚĂƚĞƐ;ƌƚ͘ϮϵͿ͕ƉĂƌƟĐŝƉĂƚĞŝŶƐĞĐŽŶĚĂƌǇ

deiro dever de coordenação e comunicação dos administradores de pro-
ĐĞƐƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂ͕ƋƵĞĂƚƵĂƌŝĂŵĞŵƉƌŽůĚĂŽƟŵŝǌĂĕĆŽĚŽƚƌĂƚĂŵĞŶƚŽ
ŝŐƵĂůŝƚĄƌŝŽĞŶƚƌĞĐƌĞĚŽƌĞƐ;pari passuͿ͘97
ůĠŵĚŝƐƐŽ͕ŽĐŽŶƚƌŽůĞĞǆĞƌĐŝĚŽƉĞůŽƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂƉƌŝŶ-
ĐŝƉĂů ;Ğ ƐĞƵ ĂĚŵŝŶŝƐƚƌĂĚŽƌͿ͕ ŽƵ ƐĞũĂ͕ ĂƋƵĞůĞ ŝŶŝĐŝĂĚŽ ŶŽ ĨŽƌŽ Ğŵ ƋƵĞ Ž
ĚĞǀĞĚŽƌ ƉŽƐƐƵĂ Ž ƐĞƵ ĐĞŶƚƌŽ ĚĞ ŝŶƚĞƌĞƐƐĞƐ ƉƌŝŶĐŝƉĂŝƐ ;KD/Ϳ͕ ƐŽďƌĞ ŽƐ
ƉƌŽĐĞĚŝŵĞŶƚŽƐƐĞĐƵŶĚĄƌŝŽƐ͕ĐŽŶĚƵǌŝƌŝĂăŝĚĞŝĂĚĞƵŵĂĂƵƚġŶƟĐĂƵŶŝĚĂĚĞ
ƉĂƚƌŝŵŽŶŝĂů ĚŽ ĚĞǀĞĚŽƌ ;unity of statesͿ͕ ĞƐƚĂŶĚŽ ƐƵďŵĞƟĚĂ ă ƐƵƉĞƌǀŝ-
ƐĆŽ ĚĞ ƵŵĂ ĐŽƌƚĞ ŶĂĐŝŽŶĂů͘ ƐƐĞ ŵŝƐƚŽ ĚĞ ĚĞǀĞƌĞƐͬƉŽĚĞƌĞƐ ĚĞ ĐŽŶƚƌŽůĞ
ĞĐŽŽƌĚĞŶĂĕĆŽĚŽĂĚŵŝŶŝƐƚƌĂĚŽƌ͞ƉƌŝŶĐŝƉĂů͟ĠƌĞƐƉŽŶƐĄǀĞůƉŽƌĨĂǌĞƌĐŽŵ
ƋƵĞŽďtĞƐƐĞůƐĚĞŶŽŵŝŶĞƐĞƵƐŝƐƚĞŵĂĚĞ͞ƵŶŝǀĞƌƐĂůŝƐŵŽĐŽŽƌĚĞŶĂĚŽ͟
;coordinated universalismͿ͗
ΗdŚĞŵƵƚƵĂůĚƵƚǇďĞƚǁĞĞŶůŝƋƵŝĚĂƚŽƌƐƚŽĐŽŵŵƵŶŝĐĂƚĞĂŶĚƚŽ
ĐŽŽƉĞƌĂƚĞƐǇŵďŽůŝǌĞƐƚŚĂƚůŝƋƵŝĚĂƚŽƌƐŚĂǀĞƚŽďƌŝĚŐĞƚŚĞƐƟůů
ĞǆŝƐƟŶŐ ĚĞĮĐŝƚ ŽĨ ƵŶŝĨŽƌŵ ůĂǁ͘ dŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ĚƵ-
ƟĞƐ ƚŽ ĐŽŵŵƵŶŝĐĂƚĞ ĂŶĚ ƚŽ ĐŽŽƉĞƌĂƚĞ ŝƐ ŶĞĐĞƐƐĂƌǇ ŝŶ ŽƌĚĞƌ
ƚŽǀŽŝĐĞ͕ǁŝƚŚƌĞŐĂƌĚƚŽĂůůĐůĂŝŵƐ͕ƚŚĞƉƌŝŶĐŝƉůĞŽĨĞƋƵĂůƚƌĞĂƚ-
ŵĞŶƚŽĨƉĂƌŝƉĂƐƐƵƌĂŶŬĞĚĐƌĞĚŝƚŽƌƐ͘/ŶĂĚŽǌĞŶŽƌƐŽƐĞƉĂƌĂƚĞ
ƉƌŽǀŝƐŝŽŶƐ͕ƚŚĞ/ŶƐŽůǀĞŶĐǇZĞŐƵůĂƟŽŶŐŝǀĞƐƐŚĂƉĞƚŽƚŚĞŝĚĞĂ
ŽĨ͞ƵŶŝƚǇŽĨƐƚĂƚĞ͟;ƚŚĞƌĞŝƐĂŌĞƌĂůůŽŶĞĚĞďƚŽƌͿ͕ǁŝƚŚƌĞŐĂƌĚ
ƚŽǁŚŝĐŚŚĞǁŚŽŚĂƐƚŚĞŵŽƐƚĚŽŵŝŶĂŶƚƌŽůĞ;ƚŚĞŵĂŝŶƐůŝƋ-
ƵŝĚĂƚŽƌͿŝŶƉƌŝŶĐŝƉůĞĚŝƌĞĐƚƐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞŝŶƐŽůǀĞŶĐǇ
ƉƌŽĐĞƐƐ͕ƵŶĚĞƌƚŚĞƐƵƉĞƌǀŝƐŝŽŶŽĨŶĂƟŽŶĂůĐŽƵƌƚ͘/ŶƚŚŝƐƉƌŽ-
ĐĞƐƐƚŚĞŵĂŝŶůŝƋƵŝĚĂƚŽƌŚĂƐ͕ǁŝƚŚƌĞŐĂƌĚƚŽƚŚĞƐĞĐŽŶĚĂƌǇƉƌŽ-
ĐĞĞĚŝŶŐƐ͕ĂƐĞƚŽĨĐŽŶƚƌŽůůŝŶŐŽƌĐŽŽƌĚŝŶĂƟŶŐ;ƉƌŽĐĞĚƵƌĂůĂŶĚ
ƐƵďƐƚĂŶƟǀĞͿƉŽǁĞƌƐƚŚĂƚŚĞĐĂŶĞǆĞƌƚ͘/ƚŝƐĨŽƌƚŚŝƐƌĞĂƐŽŶƚŚĂƚ
ĨŽƌƚŚĞŵŽĚĞůŽĨŝŶƚĞƌŶĂƟŽŶĂůŝŶƐŽůǀĞŶĐǇůĂǁŝŶƚŚĞƐǇƐƚĞŵŽĨ
h͕/ƵƐĞƚŚĞĚĞƐĐƌŝƉƟŽŶŽĨ͞ĐŽŽƌĚŝŶĂƚĞĚƵŶŝǀĞƌƐĂůŝƐŵ͘͟Η 98
ƉƌŽĐĞĞĚŝŶŐƐ;ƌƚ͘ϯϮ;ϯͿͿ͕ƌĞƋƵĞƐƚĂƐƚĂǇŽĨƚŚĞƉƌŽĐĞƐƐŽĨůŝƋƵŝĚĂƚŽƌƐŽĨƐĞĐŽŶĚĂƌǇƉƌŽĐĞĞĚŝŶŐƐ;ƌƚ͘ϯϯ;ϭͿͿ͕ƌĞƋƵĞƐƚ
ƚĞƌŵŝŶĂƟŽŶŽĨƚŚŝƐƐƚĂǇ;ƌƚ͘ϯϯ;ϮͿͿ͕ƉƌŽƉŽƐĞĂƌĞƐĐƵĞƉůĂŶŝŶƚŚĞĐŽŶƚĞǆƚŽĨƚŚĞƐĞƐĞĐŽŶĚĂƌǇƉƌŽĐĞĞĚŝŶŐƐŽƌŚĞŵĂǇ
ĚŝƐĂŐƌĞĞǁŝƚŚĮŶĂůŝǌŝŶŐůŝƋƵŝĚĂƟŽŶŝŶƐĞĐŽŶĚĂƌǇ;ƌƚ͘ϯϰ;ϮͿͿ͘,ĞƐŚĂůůĨƵƌƚŚĞƌŵŽƌĞůŽĚŐĞĂůůĐůĂŝŵƐŝŶƚŚĞƐĞĐŽŶĚĂƌǇ
ƉƌŽĐĞĞĚŝŶŐƐǁŚŝĐŚŚĂǀĞďĞĞŶůŽĚŐĞĚŝŶƚŚĞŵĂŝŶƉƌŽĐĞĞĚŝŶŐ;ƌƚ͘ϯϮ;ϮͿͿ͕ŚĞŝƐĚƵƚǇďŽƵŶĚƚŽĐŽŵŵƵŶŝĐĂƚĞŝŶĨŽƌ-
ŵĂƟŽŶ;ƌƚ͘ϯϭ;ϭͿͿĂŶĚƚŽĐŽŽƉĞƌĂƚĞ;ƌƚ͘ϯϭ;ϮͿͿ͘ŽƚŚůĂƩĞƌŽďůŝŐĂƟŽŶƐĂƌĞĚƵƟĞƐĨŽƌůŝƋƵŝĚĂƚŽƌƐŝŶƐĞĐŽŶĚĂƌǇƉƌŽ-
ĐĞĞĚŝŶŐƐƚŽŽ͘͟t^^>^͕Žď͘Ηh/ŶƐŽůǀĞŶĐǇZĞŐƵůĂƟŽŶĂŶĚ/ƚƐ/ŵƉĂĐƚŽŶƵƌŽƉĞĂŶƵƐŝŶĞƐƐΗ. CESifo DICE Report,
ǀ͘ϰ͕Ɖ͘ϮϬ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉƐ͗ͬͬǁǁǁ͘ĐĞƐŝĨŽͲŐƌŽƵƉ͘ĚĞͬƉŽƌƚĂůͬƉĂŐĞͬƉŽƌƚĂůͬϵϲϴϰϯϯϱϵ&ϲϳϵϬϵ&ϬϰϰϬϬϭϰϰ&&
7Cх͘ĐĞƐƐŽĞŵ͗ϭϵ͘Ϭϱ͘ϮϬϭϲ͘
97 Ibidem.
98 Ibidem.

6. EVOLUÇÃO DA LEGISLAÇÃO BRASILEIRA EM MATÉRIA DE FALÊNCIA
TRANSNACIONAL
Os aspectos transnacionais do direito falimentar brasileiro foram

ƉƌĞǀŝƐƚŽƐƉĞůĂƉƌŝŵĞŝƌĂǀĞǌŶŽĞĐƌĞƚŽŶǑϲ͘ϵϴϮ͕ĚĞϮϳĚĞũƵůŚŽĚĞϭϴϳϴ͕
ĞŵƉůĞŶĂĠƉŽĐĂŝŵƉĞƌŝĂů99͘KƌĂƐŝůĨŽŝƉƌĞĐƵƌƐŽƌŶŽƚƌĂƚĂŵĞŶƚŽĚĂŵĂƚĠ-
ƌŝĂ͕ƵŵĂǀĞǌƋƵĞ͕ŶĂ/ƚĄůŝĂ͕ƉŽƌĞǆĞŵƉůŽ͕ĐŽŵĞĕĂǀĂŵĂŝŶĚĂŽƐƉƌŝŵĞŝƌŽƐ
ƚƌĂďĂůŚŽƐ ƉĂƌĂ ƵŶŝĮĐĂƌ Ă ĨĂůġŶĐŝĂ100͘ ĂďĞ ƐƵďůŝŶŚĂƌ ƋƵĞ ĂƐ ĚŝƐƉŽƐŝĕƁĞƐ
ĚĞƐƐĞĚĞĐƌĞƚŽĞƌĂŵĂƉůŝĐĂĚĂƐĂƉĞŶĂƐŶĂĂƵƐġŶĐŝĂĚĞƚƌĂƚĂĚŽŽƵĐŽŶǀĞŶ-
ĕĆŽƌĞŐƵůĂŶĚŽĂĞǆĞĐƵĕĆŽĚĂƐƐĞŶƚĞŶĕĂƐĐŝǀŝƐŽƵĐŽŵĞƌĐŝĂŝƐ;Ăƌƚ͘ϮϮͿ͕ƉŽƌ-
ƚĂŶƚŽƐƵĂĂƉůŝĐĂĕĆŽĞƌĂƐƵďƐŝĚŝĄƌŝĂĞƐƵƉůĞƟǀĂĂŽƚƌĂƚĂĚŽ͘
KĂƌƚ͘ϭϰĚŽĞĐƌĞƚŽĞƐƟƉƵůŽƵƋƵĞƐĞƌŝĂĞǆĞƋƵşǀĞůŶŽƌĂƐŝůĂƐĞŶ-
ƚĞŶĕĂ ĞƐƚƌĂŶŐĞŝƌĂ ƋƵĞ ĚĞĐůĂƌĂƐƐĞ Ă ĨĂůġŶĐŝĂ ĚĞ ĐŽŵĞƌĐŝĂŶƚĞ ĚŽŵŝĐŝůŝĂĚŽ
ŶŽƉĂşƐƋƵĞĂƉƌŽĨĞƌŝƵ͕ĐŽŶƐĂŐƌĂŶĚŽ͕ƉŽƌƚĂŶƚŽ͕ŽĐƌŝƚĠƌŝŽĚŽŵŝĐŝůŝĂƌ͘ƐƐĂƐ
ƐĞŶƚĞŶĕĂƐ ĞƌĂŵ ƉĂƐƐşǀĞŝƐ ĚĞ ĞǆĞĐƵĕĆŽ ŶŽ ƌĂƐŝů͕ ĚĞƐĚĞ ƋƵĞ ŽďƐĞƌǀĂĚŽƐ
ŽƐƌĞƋƵŝƐŝƚŽƐĚŽĂƌƚ͘ϭǑ;ƌĞĐŝƉƌŽĐŝĚĂĚĞ͕ƌĞǀĞƐƟĚĂƐĚĂƐĨŽƌŵĂůŝĚĂĚĞƐĞǆƚĞƌ-
ŶĂƐ ƉĂƌĂ ƐƵĂ ĞǆĞĐƵƟǀŝĚĂĚĞ͕ ƐĞŐƵŶĚŽ Ă ůĞŐŝƐůĂĕĆŽ ĚŽ ƌĞƐƉĞĐƟǀŽ ƐƚĂĚŽ͕
ƚƌąŶƐŝƚŽĞŵũƵůŐĂĚŽ͕ĂƵƚĞŶƟĐĂĕĆŽĐŽŶƐƵůĂƌĞƚƌĂĚƵĕĆŽũƵƌĂŵĞŶƚĂĚĂͿĞŶĆŽ
ŝŶĐŽƌƌĞƐƐĞŵĞŵĂůŐƵŵĚŽƐŝŵƉĞĚŝŵĞŶƚŽƐĚŽĂƌƚ͘ϮǑ͕ĐŽŵŽ͕ƉŽƌĞǆĞŵƉůŽ͕
a violação da soberania brasileira.
K Ăƌƚ͘ ϭϱ ĞƐƚĂďĞůĞĐĞƵ ƋƵĞ Ă ƐĞŶƚĞŶĕĂ͕ ĂƉſƐ Ă ŚŽŵŽůŽŐĂĕĆŽ͕ ƉƌŽ-
duziria os efeitos inerentes à sentença brasileira. A sentença falimentar
ĞƐƚƌĂŶŐĞŝƌĂ͕ĂƐƐŝŵ͕ƐſƉƌŽĚƵǌŝƌŝĂĞĨĞŝƚŽƐůĞŐĂŝƐĂƉĂƌƟƌĚĂƉƵďůŝĐĂĕĆŽĚŽ
͞ĐƵŵƉƌĂͲƐĞ͟ĞǆĂƌĂĚŽƉŽƌũƵŝǌďƌĂƐŝůĞŝƌŽ͖ŶŽĞŶƚĂŶƚŽŚĂǀŝĂƌĞƐƚƌŝĕĆŽƋƵĂŶƚŽ
ĂĐĞƌƚŽƐĞĨĞŝƚŽƐĞŵƌĞůĂĕĆŽăƐƐĞŶƚĞŶĕĂƐĚĞĨĂůġŶĐŝĂƉƌŽĨĞƌŝĚĂƐŶŽƌĂƐŝů͘
K͞ĐƵŵƉƌĂͲƐĞ͟ƟŶŚĂĞĨĞŝƚŽĚĞĐůĂƌĂƚſƌŝŽƉĂƌĂĂƐĚŝůŝŐġŶĐŝĂƐĐŽŶƐĞƌǀĂƚſƌŝĂƐ
ĚŽƐĚŝƌĞŝƚŽƐĚĂŵĂƐƐĂĨĂůŝĚĂĞĚĞŵĂŝƐĂƚŽƐƉƌĞǀŝƐƚŽƐŶŽĂƌƚ͘ϭϲ͕ƉŽƌĠŵĞƌĂ
ŝŵƉƌĞƐĐŝŶĚşǀĞů;ĐŽŶƐƟƚƵƟǀŽͿƉĂƌĂĂƚŽƐĐŽŵŽĂĂƌƌĞĐĂĚĂĕĆŽĚĞďĞŶƐƐŝƚƵĂ-
ĚŽƐŶŽƌĂƐŝůĞĂƌƌĞŵĂƚĂĕĆŽĚĞďĞŶƐĚŽĨĂůŝĚŽ͘
K Ăƌƚ͘ ϭϲ ƚĂŵďĠŵ ƉƌĞǀŝƵ ŶŽƌŵĂ Ğŵ ƌĞůĂĕĆŽ ĂŽƐ ƐşŶĚŝĐŽƐ ŶŽŵĞĂ-
ĚŽƐŶŽĞǆƚĞƌŝŽƌ͘ŵƐĞƵƐƚĞƌŵŽƐ͕ƉƌĞƐĐƌĞǀĞƵŽƌĞĐŽŶŚĞĐŝŵĞŶƚŽĚĞůĞƐŶĂ
ĐŽŶĚŝĕĆŽĚĞŵĂŶĚĂƚĄƌŝŽƐ͕ƉŽƌĠŵĞǆŝŐŝƵŚŽŵŽůŽŐĂĕĆŽƉĂƌĂŽƐĂƚŽƐĚĞĞǆĞ-
ĐƵĕĆŽĚŽƐďĞŶƐĚŽĨĂůŝĚŽ͕ƌĞƐƉĞŝƚĂŶĚŽĂƌĞŐƌĂĂŶƚĞƌŝŽƌŵĞŶƚĞĂŶĂůŝƐĂĚĂ͗
ϵϵKƌĞĨĞƌŝĚŽĞĐƌĞƚŽƚĞŵƐƵĂĨŽŶƚĞŶĂĚŝƐƉŽƐŝĕĆŽĐŽŶƟĚĂŶŽĂƌƚ͘ϲǑ͕ΑϮǑ͕ĚĂ>ĞŝŶǑϮ͘ϲϭϱ͕ĚĞϰĚĞĂŐŽƐƚŽĚĞϭϴϳϱ͘
ŵďŽƌĂĞƐƐĂ>ĞŝĚŝƐƉƵƐĞƐƐĞƐŽďƌĞŽƉƌŽĐĞƐƐŽĞũƵůŐĂŵĞŶƚŽĚĞĐƌŝŵĞƐĐŽŵĞƟĚŽƐŶŽĞƐƚƌĂŶŐĞŝƌŽĐŽŶƚƌĂŽƌĂƐŝůĞŽƐ
ďƌĂƐŝůĞŝƌŽƐ͕ŽƌĞĨĞƌŝĚŽĂƌƟŐŽϲǑĂƵƚŽƌŝǌĂǀĂŽ'ŽǀĞƌŶŽĂĚŝƐƉŽƌ͕ŵĞĚŝĂŶƚĞƌĞĐŝƉƌŽĐŝĚĂĚĞ͕ĞŵZĞŐƵůĂŵĞŶƚŽĂĞǆĞĐƵĕĆŽ
das sentenças dos Tribunais estrangeiros.
100 VALLADÃO, Haroldo. ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 40-41.

͞΀ŵ΁ĂƐƚŽĚŽƐŽƐĂĐƚŽƐƋƵĞŝŵƉŽƌƚĂŵĚŝƌĞĐƚĂŵĞŶƚĞĞǆĞĐƵĕĆŽĚĂƐĞŶƚĞŶĕĂ͕
como são a arrecadação e arrematação de bens do fallido, não poderão
ƐĞƌƉƌĂƟĐĂĚŽƐ͕ƐĞŶĆŽĚĞƉŽŝƐƋƵĞĂƐĞŶƚĞŶĕĂƐĞƚŽƌŶĂƌĞǆĞĐƵƚŽƌŝĂƉĞůŽͲ
ĐƵŵƉƌĂͲƐĞ ΀͘͘͘΁͟101͘ WŽƌ ŽƵƚƌŽ ůĂĚŽ͕ ŵĞƐŵŽ ƌĞĐŽŶŚĞĐĞŶĚŽ ĞĨĞŝƚŽƐ ă ƐĞŶ-
ƚĞŶĕĂĞƐƚƌĂŶŐĞŝƌĂ͕ƌĞƐƐĂůǀŽƵ͕ĞŵƐĞƵƐĂƌƟŐŽƐϭϳĞϭϴ͕ŽĐĂƐŽĚŽƐĐƌĠĚŝƚŽƐ
ƋƵŝƌŽŐƌĂĨĄƌŝŽƐ ƋƵĞ ũĄ ĞƐƟǀĞƐƐĞŵ ƐĞŶĚŽ ĚŝƐĐƵƟĚŽƐ Ğŵ ĂĕĆŽ ĂũƵŝǌĂĚĂ ŶŽ
ƉĂşƐ͕ďĞŵĐŽŵŽůŝĚĞƐƋƵĞĞŶǀŽůǀĞƐƐĞŵĐƌĠĚŝƚŽƐŚŝƉŽƚĞĐĄƌŝŽƐ͘
DĞƐŵŽĂĚŵŝƟŶĚŽĂĞǆĞĐƵĕĆŽĚĂƐĞŶƚĞŶĕĂĨĂůŝŵĞŶƚĂƌĞƐƚƌĂŶŐĞŝƌĂ
ŶŽƌĂƐŝů͕ŽĞĐƌĞƚŽŶĆŽĂĨĂƐƚŽƵĂĐŽŵƉĞƚġŶĐŝĂĚŽũƵŝǌďƌĂƐŝůĞŝƌŽƉĂƌĂĚĞ-
ĐƌĞƚĂƌĂĨĂůġŶĐŝĂƐĞŽĐŽŵĞƌĐŝĂŶƚĞƉŽƐƐƵşƐƐĞŵĂŝƐĚĞƵŵĞƐƚĂďĞůĞĐŝŵĞŶƚŽ
ĞƵŵĚĞůĞƐĨŽƐƐĞƐŝƚƵĂĚŽĞŵƚĞƌƌŝƚſƌŝŽďƌĂƐŝůĞŝƌŽ͘EŽƐƚĞƌŵŽƐĚŽĂƌƚ͘ϭϵ͗
͞΀Ă΁ƐĞŶƚĞŶĕĂĞƐƚƌĂŶŐĞŝƌĂƋƵĞĂďƌŝƌĨĂůůĞŶĐŝĂĂŶĞŐŽĐŝĂŶƚĞƋƵĞƚĞŶŚĂĚŽƵƐ
ĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐ͕ƵŵŶŽƉĂŝǌĚŽƐĞƵĚŽŵŝĐŝůŝŽĞŽƵƚƌŽĚŝƐƟŶĐƚŽĞƐĞƉĂ-
ƌĂĚŽŶŽƌĂǌŝů͕ŶĆŽĐŽŵƉƌĞŚĞŶĚĞƌĄŶŽƐƐĞƵƐĞīĞŝƚŽƐŽĞƐƚĂďĞůĞĐŝŵĞŶƚŽ
ĞǆŝƐƚĞŶƚĞ ŶŽ ƌĂǌŝů͘͟ EĞƐƐĂ ŵĞƐŵĂ ůŝŶŚĂ͕ ŶŽ Ăƌƚ͘ ϮϬ͕ ĞƐƟƉƵůŽƵ ƋƵĞ ŶĆŽ
ƐĞƌŝĂŵĞǆĞĐƵƚĂĚĂƐŶŽƉĂşƐĂƐƐĞŶƚĞŶĕĂƐĞƐƚƌĂŶŐĞŝƌĂƐƋƵĞĚĞĐůĂƌĂƐƐĞŵĂ
ĨĂůġŶĐŝĂĚĞĐŽŵĞƌĐŝĂŶƚĞƐĚŽŵŝĐŝůŝĂĚŽƐŶŽƉĂşƐ͘
ŽŵŽƉĂƐƐĂƌĚŽƚĞŵƉŽĞĂƉƌŽĐůĂŵĂĕĆŽĚĂZĞƉƷďůŝĐĂ͕ĂŵĂƚĠƌŝĂ
ƉĂƐƐŽƵĂƐĞƌƌĞŐƵůĂĚĂƉĞůŽĞĐƌĞƚŽŶǑϵϭϳĚĞϭϴϵϬ͕ĞŵƐĞƵƐĂƌƟŐŽƐϵϭĂ
ϭϬϲ͕ŝŶƐĞƌŝĚŽƐŶŽdşƚƵůŽ/y͗͞ĂƐ&ĂůůĞŶĐŝĂƐĞĐůĂƌĂĚĂƐ&ſƌĂĚĂZĞƉƵďůŝĐĂ͘͟
KŶŽǀŽĞĐƌĞƚŽƌĞƐƐĂůƚŽƵƋƵĞĂĞǆŝƐƚġŶĐŝĂĚĞĂŐġŶĐŝĂƐĞĮůŝĂŝƐƐŝƚƵĂĚĂƐŶŽ
ƌĂƐŝů͕ƋƵĞŽƉĞƌĂƐƐĞŵƉŽƌĐŽŶƚĂĞƌĞƐƉŽŶƐĂďŝůŝĚĂĚĞĚŽĞƐƚĂďĞůĞĐŝŵĞŶƚŽ
ƉƌŝŶĐŝƉĂůƐŝƚƵĂĚŽŶŽƉĂşƐĚŽĚŽŵŝĐşůŝŽĐŽŵĞƌĐŝĂů͕ŶĆŽŝŵƉĞĚŝƌŝĂĂŚŽŵŽůŽ-
ŐĂĕĆŽĚĂƐĞŶƚĞŶĕĂ;Ăƌƚ͘ϵϭͿ͘
EŽĂƌƚ͘ϵϱ͕ƚĂŵďĠŵƉƌĞǀŝƵŽƐƉŽĚĞƌĞƐĚŽƐƌĞƉƌĞƐĞŶƚĂŶƚĞƐĚĂŵĂƐƐĂ
ĨĂůŝĚĂĚĞƌĞƋƵĞƌĞƌĞŵŶŽƌĂƐŝůĂƐĚŝůŝŐġŶĐŝĂƐĐŽŶƐĞƌǀĂƚſƌŝĂƐĚĞƐĞƵƐĚŝƌĞŝ-
ƚŽƐ͕ƉŽƌĠŵĚŝƐƉĞŶƐŽƵĂŽďƌŝŐĂĕĆŽĚĞƉƌĞƐƚĂƌĐĂƵĕĆŽ͘ǆĐĞƚƵŽƵŚŝƉſƚĞƐĞƐ
ĞŵƋƵĞƐĞƌŝĂŶĞĐĞƐƐĄƌŝŽŽĚŽŵŝĐşůŝŽŶŽƉĂşƐ͕ĐŽŵŽƐĞǀġŶŽĂƌƚ͘ϭϬϮ͗͞΀Ă΁
s concordatas e os modos de prevenir e obstar a declaração da fallencia,
ŚŽŵŽůŽŐĂĚŽƐ ƉŽƌ ƚƌŝďƵŶĂĞƐ ĞƐƚƌĂŶŐĞŝƌŽƐ͕ Ɛſ ƐĞƌĆŽ ŽďƌŝŐĂƚŽƌŝŽƐ ƉĂƌĂ ŽƐ
ĐƌĞĚŽƌĞƐ ƌĞƐŝĚĞŶƚĞƐ ŶĂ ZĞƉƵďůŝĐĂ ΀͘͘͘΁͘͟ EŽ ŐĞƌĂů͕ Ž ĚĞĐƌĞƚŽ ƌĞƉƵďůŝĐĂŶŽ
ƉŽƐƐƵşĂĞƐƟƉƵůĂĕƁĞƐƐĞŵĞůŚĂŶƚĞƐĂŽŝŵƉĞƌŝĂů͕ĂďŽůŝŶĚŽ͕ĐŽŶƚƵĚŽ͕ĂĞǆŝ-
ŐġŶĐŝĂĚĞƌĞĐŝƉƌŽĐŝĚĂĚĞ͘KĞĐƌĞƚŽƚƌŽƵǆĞĚŝƐƉŽƐŝĕĆŽƐŽďƌĞĂůĞŝĂƉůŝĐĄǀĞů
ăĨĂůġŶĐŝĂŶŽĂƌƚ͘ϭϬϭ͕ƉƌĞƐĐƌĞǀĞŶĚŽƋƵĞĂĐůĂƐƐŝĮĐĂĕĆŽĚĞĐƌĠĚŝƚŽƐƐĞƌŝĂ
regulada pela lei local.
ϭϬϭ^ĞŵƉƌĞƋƵĞƐĞĮǌĞƌĂƚƌĂŶƐĐƌŝĕĆŽĚĞƵŵƚĞǆƚŽĂŶƟŐŽ͕ŽƉƚŽƵͲƐĞƉŽƌŶĆŽĐŽůŽĐĂƌsic. Isso porque a redação da
ĠƉŽĐĂĞƌĂďĂƐƚĂŶƚĞĚŝĨĞƌĞŶƚĞĚĂĂƚƵĂů͕ĚĞŵŽĚŽƋƵĞŽƚĞǆƚŽĮĐĂƌŝĂĚĞŵĂƐŝĂĚĂŵĞŶƚĞƉŽůƵşĚŽƉĞůĂĂƉŽƐŝĕĆŽĚĞǀĄƌŝŽƐ
sics͕ŽƋƵĞĐĞƌƚĂŵĞŶƚĞƉƌĞũƵĚŝĐĂƌŝĂĂůĞŝƚƵƌĂĚŽĂƌƟŐŽ͘

,ĂƌŽůĚŽsĂůůĂĚĆŽƌĞŐŝƐƚƌĂƋƵĞŶŽŽŶŐƌĞƐƐŽ:ƵƌşĚŝĐŽŵĞƌŝĐĂŶŽĚŽ
/sĞŶƚĞŶĄƌŝŽĚŽƌĂƐŝůĨŽŝǀĞŶĐĞĚŽƌĂĂƚĞƐĞĚŽƌ͘^ŽůŝĚƀŶŝŽ>ĞŝƚĞ͕ĂĚǀŽ-
ŐĂŶĚŽƉĞůĂĂĚŵŝƐƐĆŽĚŽƐƉƌŝŶĐşƉŝŽƐĚĂƵŶŝĚĂĚĞĞƵŶŝǀĞƌƐĂůŝĚĂĚĞĚĂĨĂůġŶ-
cia com restrições102͘KƉƌŝŶĐşƉŝŽĚĂƵŶŝĚĂĚĞĞƐƚĂďĞůĞĐĞƋƵĞĚĞǀĞĞǆŝƐƟƌ
ƚĆŽƐŽŵĞŶƚĞƵŵƷŶŝĐŽƉƌŽĐĞƐƐŽĨĂůŝŵĞŶƚĂƌƉĂƌĂĂĚŵŝŶŝƐƚƌĂƌĞĚŝƐƚƌŝďƵŝƌ
ƚŽĚŽƐŽƐďĞŶƐĚŽĚĞǀĞĚŽƌ͕ĂŽƉĂƐƐŽƋƵĞŽĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞƉƌĞǀġŽĂů-
ĐĂŶĐĞŵƵŶĚŝĂůĚĞƐƐĞƉƌŽĐĞƐƐŽ͘EĂƐƉĂůĂǀƌĂƐĚĞ&ĄďŝŽhůŚŽĂŽĞůŚŽ͕͞ƚŽ-
das as ações referentes aos bens, interesses e negócios da massa falida
ƐĞƌĆŽƉƌŽĐĞƐƐĂĚĂƐĞũƵůŐĂĚĂƐƉĞůŽũƵşǌŽƉĞƌĂŶƚĞŽƋƵĂůƚƌĂŵŝƚĂŽƉƌŽĐĞƐƐŽ
ĚĞĞǆĞĐƵĕĆŽĐŽŶĐƵƌƐĂůƉŽƌĨĂůġŶĐŝĂ͟103͘ŚĂŵĂͲƐĞŝƐƐŽĚĞǀŝƐĂƚƌĂĐƟǀĂ do
ũƵşǌŽĚĂĨĂůġŶĐŝĂ͘
ƉſƐϭϵϬϬ͕ĂĚǀŝĞƌĂŵĂůŐƵŵĂƐŶŽƌŵĂƐƋƵĞŵĂŶƟǀĞƌĂŵŽƐƉƌŝŶĐş-
ƉŝŽƐĞƉƌĞĐĞŝƚŽƐĂŶƚĞƌŝŽƌĞƐĐŽŵĂůŐƵŵĂƐĂůƚĞƌĂĕƁĞƐ͗
ΗWĞƌĚƵƌĂƌĂŵĂƋƵĞůĞƐƉƌŝŶĐşƉŝŽƐŶĂ>Ğŝϴ͘ϱϬϵ͕ĚĞϭϵϬϮ͕ĞǆƉůŝ-
citados com algumas alterações na Lei 2.024, de 1908, arts.
ϭϲϭͬϲ͕ƋƵĞĞƐƚĂďĞůĞĐĞƵ͕ĂŝŶĚĂ͕ŶŽĂƌƚ͘ϭϲϯ͕ƌĞŐƌĂĚĞ/WŶĆŽ
ƉƌŽĐĞƐƐƵĂů͚͗ůĞŝůŽĐĂůƌĞŐƵůĂƌĄĂĐůĂƐƐŝĮĐĂĕĆŽĚŽƐĐƌĠĚŝƚŽƐ͛͘
EĂƌĞĨŽƌŵĂĚĂ>ĞŝĚĞ&ĂůġŶĐŝĂƐ͕ĞĐƌĞƚŽϱ͘ϳϰϲ͕ĚĞϵͲy//ͲϭϵϮϵ͕
ŵĂŶƟǀĞƌĂŵͲƐĞŽƐƉƌĞĐĞŝƚŽƐĚŽĂŶƚĞƌŝŽƌ͕ĂĚŝƚĂŶĚŽƵŵĂƌĞŐƌĂ
ŶŽǀĂĞũƵƐƚĂ͕ŶŽĂƌƚ͘ϭϲϲ͕ƉĂƌĂĂƋƵŝĐŽŶĐŽƌƌĞƌĞŵŽƐĐƌĞĚŽƌĞƐ
ĂĚŵŝƟĚŽƐŶŽƉƌŽĐĞƐƐŽĚĞĨĂůġŶĐŝĂĞƐƚƌĂŶŐĞŝƌĂƐĞŵƉƌĠǀŝĂŚŽ-
ŵŽůŽŐĂĕĆŽĚĞƐƚĂ͕ĞĂůƚĞƌĂŶĚŽ͕ĐŽŵƌĂǌĆŽ͕ŽĂŶƟŐŽƉƌŝŶĐşƉŝŽ
ĚĞĚĞŶĞŐĂĕĆŽĚĂĨĂůġŶĐŝĂ͚ĚĞĚĞǀĞĚŽƌďƌĂƐŝůĞŝƌŽĂƋƵŝĚŽŵŝĐŝ-
ůŝĂĚŽ͛;>ĞŝϮ͘ϬϮϰ͕Ăƌƚ͘ϭϲϱͿƉĂƌĂĂƉĞŶĂƐ͚ĚĞĚĞǀĞĚŽƌĂƋƵŝĚŽ-
ŵŝĐŝůŝĂĚŽ͛;ĞĐ͘ϱ͘ϳϰϲ͕Ăƌƚ͘ϭϲϰͿĚĂĚĂĂĞƋƵŝƉĂƌĂĕĆŽĐŽŶƐƟƚƵ-
ĐŝŽŶĂůĚĞďƌĂƐŝůĞŝƌŽƐĞĞƐƚƌĂŶŐĞŝƌŽƐƌĞƐŝĚĞŶƚĞƐ͘Η104
ŵ ϭϵϯϵ͕ Ă ŵĂƚĠƌŝĂ ĨŽŝ ƚƌĂƚĂĚĂ ŶĂ ƐĞĂƌĂ ƉƌŽĐĞƐƐƵĂů͕ ǀŝƐƚŽ ƋƵĞ ĨŽŝ
ƌĞŐƵůĂĚĂƉĞůŽſĚŝŐŽĚĞWƌŽĐĞƐƐŽŝǀŝůĚĞƐƐĞĂŶŽ;ĞĐƌĞƚŽͲ>ĞŝŶǑϭ͘ϲϬϴͿ͕
ƉƌĞǀŝƐƚĂŶĂƉĂƌƚĞƌĞĨĞƌĞŶƚĞăŚŽŵŽůŽŐĂĕĆŽĚĞƐĞŶƚĞŶĕĂĞƐƚƌĂŶŐĞŝƌĂ͕ĞŶƚƌĞ
ŽƐĂƌƟŐŽƐϳϴϳĞϳϴϵ͘ŵƌĂǌĆŽĚŝƐƐŽ͕ĂůĞŝĨĂůŝŵĞŶƚĂƌĚĞϭϵϰϱ;ĞĐƌĞƚŽ-
Ͳ>ĞŝŶǑϳ͘ϲϲϭͿŶĆŽƚƌĂƚŽƵĚĂƚĞŵĄƟĐĂ͘KĂƌƚ͘ϳϴϳ͕caput͕ĚŽWͬϯϵĚŝƐƉƀƐ
ĚĞĨŽƌŵĂƐĞŵĞůŚĂŶƚĞĂŽƋƵĞũĄĨĂǌŝĂŽĂƌƚ͘ϭϱĚŽĞĐƌĞƚŽŶǑϲ͘ϵϴϮͬϭϴϳϴ͕
ƉƌĞǀĞŶĚŽ ŽƐ ĞĨĞŝƚŽƐ ŝŶĞƌĞŶƚĞƐ ăƐ ƐĞŶƚĞŶĕĂƐ ĚĞ ĨĂůġŶĐŝĂ ďƌĂƐŝůĞŝƌĂƐ ƉĂƌĂ
102 VALLADÃO, Haroldo.ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 41.

ϭϬϯK>,K͕&ĄďŝŽhůŚŽĂ͘Curso de Direito Comercial..., p. 274.

ĂƋƵĞůĂƐƉƌŽĨĞƌŝĚĂƐŶŽĞǆƚĞƌŝŽƌĞŚŽŵŽůŽŐĂĚĂƐƉĞůĂũƵƐƟĕĂďƌĂƐŝůĞŝƌĂ͘EŽƐ
ƚƌġƐŝŶĐŝƐŽƐĚŽĚŝƐƉŽƐŝƟǀŽ͕ŽWĞƐƚĂďĞůĞĐĞƵĂůŐƵŵĂƐƌĞƐƚƌŝĕƁĞƐ͕ĐŽŵŽĂ
possibilidade de os administradores requererem medidas conservatórias
ĚŽƐ ĚŝƌĞŝƚŽƐ ĚĂ ŵĂƐƐĂ ŝŶĚĞƉĞŶĚĞŶƚĞŵĞŶƚĞ ĚĞ ŚŽŵŽůŽŐĂĕĆŽ Ğ Ă ĞǆĞĐƵ-
ĕĆŽĚĞďĞŶƐĚŽĨĂůŝĚŽ͕ĚŝƐĐƵƟĚŽƐĞŵĂĕƁĞƐĂũƵŝǌĂĚĂƐƉŽƌĚŽŵŝĐŝůŝĂĚŽƐŶŽ
ƌĂƐŝů͕ ĚĞƐĚĞ ƋƵĞ ĂũƵŝǌĂĚĂƐ ĂŶƚĞƐ ĚĂ ĚĂƚĂ ĚĞ ŚŽŵŽůŽŐĂĕĆŽ ĚĂ ƐĞŶƚĞŶĕĂ
declaratória estrangeira.
KĂƌƚ͘ϳϴϴƉƌĞǀŝƵŽĐůĄƐƐŝĐŽſďŝĐĞĚĞƐĞĐŽŶĨĞƌŝƌĞĨĞŝƚŽƐăƐĞŶƚĞŶĕĂ
ĞƐƚƌĂŶŐĞŝƌĂƋƵĞĚĞĐůĂƌĂƌĂĨĂůġŶĐŝĂĞŵƌĞůĂĕĆŽĂŽĞƐƚĂďĞůĞĐŝŵĞŶƚŽƐŝƚƵ-
ĂĚŽŶŽƌĂƐŝů͘:ĄŽĂƌƚ͘ϳϴϵĚŝƐƉƀƐƋƵĞĂƐĐŽŶĐŽƌĚĂƚĂƐŚŽŵŽůŽŐĂĚĂƐƉŽƌ
ƚƌŝďƵŶĂŝƐĚŽĞǆƚĞƌŝŽƌĞƐƚĂǀĂŵŝŐƵĂůŵĞŶƚĞƐƵũĞŝƚĂƐăŚŽŵŽůŽŐĂĕĆŽĚĂũƵƐ-
ƟĕĂďƌĂƐŝůĞŝƌĂĞƐſƉŽĚŝĂŵƐƵƌƟƌĞĨĞŝƚŽƐĞŽƐĐƌĞĚŽƌĞƐƌĞƐŝĚĞŶƚĞƐŶŽƌĂƐŝů
ĨŽƐƐĞŵĚĞǀŝĚĂŵĞŶƚĞĐŝƚĂĚŽƐ͘WĂƌĂ,ĂƌŽůĚŽsĂůůĂĚĆŽ͕ŽWŽŵŝƟƵƉŽŶƚŽƐ
ƌĞůĞǀĂŶƚĞƐ͕ĚĞƐĂƌƟĐƵůĂŶĚŽĞƉƌĞũƵĚŝĐĂŶĚŽĂŵĂƚĠƌŝĂĐŽŵŽƵŵƚŽĚŽ105.
ƐĐƌşƟĐĂƐŵĂŝƐĚƵƌĂƐĚŽĂƵƚŽƌƐĆŽǀŽůƚĂĚĂƐƉĂƌĂŽſĚŝŐŽĚĞWƌŽ-
ĐĞƐƐŽŝǀŝůĚĞϭϵϳϯ;>ĞŝŶǑϱ͘ϴϲϵͿ͕ƋƵĞƐŝŵƉůĞƐŵĞŶƚĞŶĆŽƚƌĂƚŽƵĚŽƚĞŵĂ͕
ƌĞůĞŐĂŶĚŽͲŽƉĂƌĂŽZĞŐŝŵĞŶƚŽ/ŶƚĞƌŶŽĚŽ^ƵƉƌĞŵŽdƌŝďƵŶĂů&ĞĚĞƌĂů106͗
ΗKĚĞƐƉƌĞǌŽƉĞůĂŵĂƚĠƌŝĂ͕ĞƉĞůĂƐƵĂƐŝƐƚĞŵĄƟĐĂĞĐůĂƐƐŝĮĐĂĕĆŽ͕
ĐŚĞŐŽƵĂŽŵĄǆŝŵŽĐŽŵŽŶŽǀŽſĚ͘ĚĞWƌŽĐ͘ŝǀŝů͕ĚĞϭϵϳϯ͕ƋƵĞ
a suprimiu do Código, relegando-a para o Regimento Interno
ĚŽ^ƵƉƌĞŵŽdƌŝďƵŶĂů&ĞĚĞƌĂů͕ŽƋƵĂůĂŵĞƐŵĂŶĆŽĐƵŝĚŽƵŶĞŵ
ƉŽĚŝĂĐƵŝĚĂƌ͊ĂŵĂƚĠƌŝĂĚĂĨĂůġŶĐŝĂŶŽ/W͕ĚŝƐĐŝƉůŝŶĂĚĂƐĞĐƵ-
ůĂƌŵĞŶƚĞ͕ĚĞƐĚĞŽĞĐ͘ĚĞϭϴϳϴ͕ĮĐŽƵ͕ĂƐƐŝŵ͕ŶĆŽůĞŐŝƐůĂĚĂ;͊Ϳ
ƉĞůĂƉƌŝŵĞŝƌĂǀĞǌŶĂŚŝƐƚſƌŝĂĚŽĚŝƌĞŝƚŽƉĄƚƌŝŽ͕ĞĐŽŵĂŵĄǆŝŵĂ
ƉƌŽďĂďŝůŝĚĂĚĞ͕ŶĂŚŝƐƚſƌŝĂĚŽĚŝƌĞŝƚŽŵƵŶĚŝĂů͘Η107
Antes do CPC de 1973, adveio a Lei de Introdução ao Código Civil
;ĞĐƌĞƚŽͲ>ĞŝŶǑϰ͘ϲϱϳͬϰϮͲ>/Ϳ108͕ƋƵĞƚĂŵďĠŵŶĆŽƉƌĞǀŝƵĞƐƟƉƵůĂĕƁĞƐ
ĞƐƉĞĐşĮĐĂƐƉĂƌĂĂĨĂůġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ŚĂũĂǀŝƐƚĂƋƵĞŽWĚĞϭϵϯϵŚĂ-
ǀŝĂĞŶƚƌĂĚŽĞŵǀŝŐŽƌĂƉĞŶĂƐƚƌġƐĂŶŽƐĂŶƚĞƐ͘ĞĨĂƚŽ͕Ă>/;ĂƚƵĂů>/EͿ
ƚƌŽƵǆĞƌĞŐƌĂƐŐĞƌĂŝƐƉĂƌĂĂŚŽŵŽůŽŐĂĕĆŽĚĞƐĞŶƚĞŶĕĂƐĞƐƚƌĂŶŐĞŝƌĂƐƋƵĞ
ƉŽĚĞƌŝĂŵƐĞƌƵƐĂĚĂƐƉĂƌĂĂŝŶƐŽůǀġŶĐŝĂ͕ĐŽŵŽ͕v.g., os óbices da sobera-
ŶŝĂŶĂĐŝŽŶĂů͕ŽƌĚĞŵƉƷďůŝĐĂĞďŽŶƐĐŽƐƚƵŵĞƐƉƌĞǀŝƐƚŽƐŶŽĂƌƚ͘ϭϳ͕ƉŽƌĠŵ
105 Ibidem.
ϭϬϲƌƚ͘ϰϴϯĚŽWͬϳϯ͗͞ƐĞŶƚĞŶĕĂƉƌŽĨĞƌŝĚĂƉŽƌƚƌŝďƵŶĂůĞƐƚƌĂŶŐĞŝƌŽŶĆŽƚĞƌĄĞĮĐĄĐŝĂŶŽƌĂƐŝůƐĞŶĆŽĚĞƉŽŝƐĚĞ
ŚŽŵŽůŽŐĂĚĂƉĞůŽ^ƵƉƌĞŵŽdƌŝďƵŶĂů&ĞĚĞƌĂů͘͟WĂƌĄŐƌĂĨŽƷŶŝĐŽ͗͞ŚŽŵŽůŽŐĂĕĆŽŽďĞĚĞĐĞƌĄĂŽƋƵĞĚŝƐƉƵƐĞƌŽZĞŐŝ-
ŵĞŶƚŽ/ŶƚĞƌŶŽĚŽ^ƵƉƌĞŵŽdƌŝďƵŶĂů&ĞĚĞƌĂů͘͟
ϭϬϴKƌŝŐŝŶĂůŵĞŶƚĞ͕ĚĞŶŽŵŝŶĂĚĂ>ĞŝĚĞ/ŶƚƌŽĚƵĕĆŽĂŽſĚŝŐŽŝǀŝů͘ĂůƚĞƌĂĕĆŽĚŽŶŽŵĞƐĞĚĞƵƉĞůĂ>ĞŝŶǑϭϮ͘ϯϳϲĚĞϮϬϭϬ͘

ĞůĞƐŶĆŽƐĞƌŝĂŵƐƵĮĐŝĞŶƚĞƐƉĂƌĂůŝĚĂƌĐŽŵĂƐĐŽŵƉůĞǆĂƐƋƵĞƐƚƁĞƐƚƌĂǌŝĚĂƐ
ƉĞůĂŵĂƚĠƌŝĂ͘
,ŽƵǀĞ͕ĂŝŶĚĂ͕ŽĞĐƌĞƚŽͲ>ĞŝŶǑϳ͘ϲϲϭͬϰϱ͕ĚŝƉůŽŵĂƌĞŐƵůĂĚŽƌĚŽĚŝ-
ƌĞŝƚŽĨĂůŝŵĞŶƚĂƌŶŽƌĂƐŝůĚĂĠƉŽĐĂ͕ƋƵĞ͕ƉĞůŽŵĞƐŵŽŵŽƟǀŽ͕ƚĂŵďĠŵŶĆŽ
ƌĞŐƵůĂŵĞŶƚŽƵĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘KƷŶŝĐŽĚŝƐƉŽƐŝƟǀŽŶĞůĞǀĞŶƟ-
ůĂĚŽƋƵĞƐĞƌǀŝƌŝĂĚĞĂƵǆşůŝŽŶĞƐƐĂŵĂƚĠƌŝĂĞƌĂŽĂƌƚ͘ϳǑ͕caput, que dizia ser
ĐŽŵƉĞƚĞŶƚĞƉĂƌĂĚĞĐůĂƌĂƌĂĨĂůġŶĐŝĂŽũƵŝǌĞŵĐƵũĂũƵƌŝƐĚŝĕĆŽŽĚĞǀĞĚŽƌ
ƟǀĞƐƐĞƐĞƵƉƌŝŶĐŝƉĂůĞƐƚĂďĞůĞĐŝŵĞŶƚŽŽƵĐĂƐĂĮůŝĂůĚĞŽƵƚƌĂƐŝƚƵĂĚĂĨŽƌĂ
ĚŽ ƌĂƐŝů͘ ŵ ϮϬϬϱ͕ ƐƵďƐƟƚƵŝŶĚŽ Ž ĞĐƌĞƚŽͲ>Ğŝ ŶǑ ϳ͘ϲϲϭͬϰϱ͕ ĂĚǀĞŝŽ >Ğŝ
ŶǑϭϭ͘ϭϬϭ͘ŶŽǀĂůĞŝŝŐƵĂůŵĞŶƚĞŶĆŽƚƌŽƵǆĞĚŝƐƉŽƐŝĕƁĞƐĂĐĞƌĐĂĚĂŝŶƐŽů-
ǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂůĞƌĞƉƌŽĚƵǌŝƵ͕ĞŵƐĞƵĂƌƚ͘ϯǑ͕caput͕ŽƚĞŽƌĚŽĂŶƟŐŽ
Ăƌƚ͘ϳǑ͕in verbis͗͞ĐŽŵƉĞƚĞŶƚĞƉĂƌĂŚŽŵŽůŽŐĂƌŽƉůĂŶŽĚĞƌĞĐƵƉĞƌĂĕĆŽ
ĞǆƚƌĂũƵĚŝĐŝĂů͕ĚĞĨĞƌŝƌĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůŽƵĚĞĐƌĞƚĂƌĂĨĂůġŶĐŝĂŽũƵşǌŽ
do local do principal estabelecimento do devedor ou da filial de empresa
ƋƵĞƚĞŶŚĂƐĞĚĞĨŽƌĂĚŽƌĂƐŝů͘͟
sġͲƐĞ Ă ĂĚŽĕĆŽ ĚĂ ĨſƌŵƵůĂ ĚŽ ƉƌŝŶĐŝƉĂů ĞƐƚĂďĞůĞĐŝŵĞŶƚŽ͕ ƋƵĞ ŶĆŽ
ŶĞĐĞƐƐĂƌŝĂŵĞŶƚĞƐĞƌŝĂĂƐĞĚĞĞƐƚĂƚƵƚĄƌŝĂŽƵĐŽŶƚƌĂƚƵĂůĚĂƐŽĐŝĞĚĂĚĞĞŵ-
ƉƌĞƐĄƌŝĂĚĞǀĞĚŽƌĂ͕ŝƐƚŽĠ͕ĂƋƵĞůĂŵĞŶĐŝŽŶĂĚĂŶŽĂƚŽĐŽŶƐƟƚƵƟǀŽ͕ŶĞŵŽ
ŵĂŝŽƌĞƐƚĂďĞůĞĐŝŵĞŶƚŽİƐŝĐŽŽƵĂĚŵŝŶŝƐƚƌĂƟǀŽƋƵĞƉŽƐƐƵŝ͘WƌŝŶĐŝƉĂůĞƐƚĂ-
ďĞůĞĐŝŵĞŶƚŽ͕ĐŽŵŽďĞŵƐĂůŝĞŶƚĂ&ĂďŝŽhůŚŽĂŽĞůŚŽ͕͞ĠĂƋƵĞůĞĞŵƋƵĞƐĞ
ĞŶĐŽŶƚƌĂĐŽŶĐĞŶƚƌĂĚŽŽŵĂŝŽƌǀŽůƵŵĞĚĞŶĞŐſĐŝŽƐĚĂĞŵƉƌĞƐĂ͖ĠŽŵĂŝƐ
importante do ponto de vista econômico͟109͘ǀŝĚĞŶƚĞŵĞŶƚĞ͕ƉŽĚĞƌĄĐŽŝŶĐŝ-
ĚŝƌĐŽŵĂƐĞĚĞĞƐƚĂƚƵƚĄƌŝĂŽƵŽŵĂŝŽƌĞƐƚĂďĞůĞĐŝŵĞŶƚŽĞŵƉƌĞƐĄƌŝŽ͘raison
d’ġƚƌĞ ĚĞƐƐĂŶŽƌŵĂĠŽĨĂƚŽĚĞƋƵĞŽũƵŝǌĚŽůŽĐĂůĚŽƉƌŝŶĐŝƉĂůĞƐƚĂďĞůĞ-
ĐŝŵĞŶƚŽĞƐƚĄŐĞƌĂůŵĞŶƚĞŵĂŝƐƉƌſǆŝŵŽĚŽƐďĞŶƐ͕ĚĂĐŽŶƚĂďŝůŝĚĂĚĞĞĚŽƐ
credores da massa falida, facilitando a condução do processo falimentar.
KĚŝƐƉŽƐŝƟǀŽĞŵĐŽŵĞŶƚŽƚĂŵďĠŵƉŽĚĞƐĞƌƵƟůŝǌĂĚŽƉĂƌĂƌĞŐƵůĂƌ
ĐĂƐŽĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘WŽƌĞůĞ͕ĞŶƚĞŶĚĞͲƐĞ͕ƉŽƌĞǆĞŵƉůŽ͕ƋƵĞ
ŽũƵşǌŽďƌĂƐŝůĞŝƌŽƐĞƌŝĂĐŽŵƉĞƚĞŶƚĞƉĂƌĂũƵůŐĂƌŽƐƉƌŽĐĞƐƐŽƐĞŵƋƵĞĞƐƟ-
ǀĞƐƐĞŵƉƌĞƐĞŶƚĞƐĂƐĮůŝĂŝƐƐĞĚŝĂĚĂƐŶŽƌĂƐŝů͕ǀĞƌŝĮĐĂŶĚŽͲƐĞĞŵƋƵĂůĚĞůĂƐ
ŚĄŵĂŝŽƌĐŽŶĐĞŶƚƌĂĕĆŽĚŽǀŽůƵŵĞĚĞŶĞŐſĐŝŽƐ͘&ŝůŝĂůŽƵ͞ĐĂƐĂĮůŝĂů͕͟ĐŽŵŽ
ĞƐƚĂǀĂƉƌĞǀŝƐƚŽŶŽĞĐƌĞƚŽͲ>ĞŝĚĞϭϵϰϱ͕ĠƵŵĞƐƚĂďĞůĞĐŝŵĞŶƚŽĂƵƚƀŶŽŵŽ͕
ĚĞƚĞŶƚŽƌĚĞƌĞŐŝƐƚƌŽŶŽEW:ĞĂĚŵŝŶŝƐƚƌĂĕĆŽƉƌſƉƌŝŽƐ͕ĐŽŵǀşŶĐƵůŽƐĞĐŽŶƀ-
ŵŝĐŽƐĐŽŵĂŵĂƚƌŝǌ͕ĐŽŵƉŽŶĚŽ͕ĂƐƐŝŵ͕ƵŵĂƷŶŝĐĂƉĞƐƐŽĂũƵƌşĚŝĐĂ͘
ƉƌĞƐĞŶĕĂĚĞŶŽƌŵĂƐŽďƌĞŽũƵşǌŽĨĂůŝŵĞŶƚĂƌĞƌĞĐƵƉĞƌĂĐŝŽŶĂůĠ
ŝŶƐƵĮĐŝĞŶƚĞƉĂƌĂƌĞŐƵůĂƌƐŝƚƵĂĕƁĞƐĞŶǀŽůǀĞŶĚŽƐƵďƐŝĚŝĄƌŝĂƐĞƐƚƌĂŶŐĞŝƌĂƐ͕
ϭϬϵK>,K͕&ĄďŝŽhůŚŽĂ͘Curso de Direito Comercial..., p. 273.

ĨĂůġŶĐŝĂ Ğ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů ĚĞ ŐƌƵƉŽƐ ƐŽĐŝĞƚĄƌŝŽƐ ;ƐŝƚƵĂĕĆŽ ŽĐŽƌƌŝĚĂ
ŶŽĐĂƐŽK'yͿ͕ƌĞĐŽŶŚĞĐŝŵĞŶƚŽĚĞƉƌŽĐĞƐƐŽƐƐĞĐƵŶĚĄƌŝŽƐĚĞŝŶƐŽůǀġŶĐŝĂĞ
ŵƵŝƚĂƐŽƵƚƌĂƐĐŽŵƉůĞǆŝĚĂĚĞƐĚĂŵĂƚĠƌŝĂ͘ŝŶƐƵĮĐŝġŶĐŝĂƐĞũƵƐƟĮĐĂ͕ƉŽŝƐ
ŽĚŝƐƉŽƐŝƟǀŽĨŽŝĞůĂďŽƌĂĚŽ͕ĂƉƌŝŶĐşƉŝŽ͕ƉĂƌĂƌĞŐĞƌĂŽƌŐĂŶŝǌĂĕĆŽũƵĚŝĐŝĄƌŝĂ
ŝŶƚĞƌŶĂĚĂĨĂůġŶĐŝĂĞƌĞĐƵƉĞƌĂĕĆŽ͘ƐƵĂĂƉůŝĐĂĕĆŽƉĂƌĂŽƐĂƐƉĞĐƚŽƐƚƌĂŶƐ-
ĨƌŽŶƚĞŝƌŝĕŽƐĚĞĐŽƌƌĞĞŵƌĂǌĆŽĚĂĂƵƐġŶĐŝĂĚĞŶŽƌŵĂďƌĂƐŝůĞŝƌĂƋƵĞƌĞŐƵůĞ
ŽƚĞŵĂĂƚƵĂůŵĞŶƚĞ͘^ƵƐƚĞŶƚĂWĂƵůŽĂŵƉĂŶĂ&ŝůŚŽƋƵĞƵŵĂŝŶƚĞƌƉƌĞƚĂĕĆŽ
ĂŵƉůĂƉŽĚĞƌŝĂƐĞƌƵƟůŝǌĂĚĂ͕ƉĞƌŵŝƟŶĚŽĂĂƉůŝĐĂĕĆŽĚŽĚŝƐƉŽƐŝƟǀŽĂŽƐĐĂ-
ƐŽƐƋƵĞĞŶǀŽůǀĂŵŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐŵƵůƟŶĂĐŝŽŶĂŝƐ͗
ΗK ĐŽŶũƵŶƚŽ ĚĞ ŶŽƌŵĂƐ ŵĂŝƐ ĂĚĞƋƵĂĚŽ ƉĂƌĂ ƚƌĂƚĂƌ ĚŽ ĂƐ-
ƐƵŶƚŽ ƐĞƌŝĂ Ž ƋƵĞ ƉĞƌŵŝƟƐƐĞ ƋƵĞ ŽƐ ŐƌƵƉŽƐ ĐƵũŽ ĐĞŶƚƌŽ ĚĞ
ŝŶƚĞƌĞƐƐĞƐƉƌŝŶĐŝƉĂŝƐ ;ŽƵ ƉƌŝŶĐŝƉĂů ĞƐƚĂďĞůĞĐŝŵĞŶƚŽ͕ƉĂƌĂƐĞ
ƵƐĂƌĂƚĞƌŵŝŶŽůŽŐŝĂũƵƌşĚŝĐĂĚĂůĞŝĨĂůŝŵĞŶƚĂƌͿƐĞĞŶĐŽŶƚƌĂƐƐĞ
ĞŵƚĞƌƌŝƚſƌŝŽďƌĂƐŝůĞŝƌŽƉƵĚĞƐƐĞĂũƵŝǌĂƌƵŵƉƌŽĐĞƐƐŽĚĞƌĞ-
ĐƵƉĞƌĂĕĆŽ ĐŽŶũƵŶƚŽ ƉĞƌĂŶƚĞ Ƶŵ ũƵŝǌ ŶĂĐŝŽŶĂů͘ ƐƐĂ ƐŽůƵĕĆŽ
poderia decorrer da adequação de uma interpretação ampla
ĚŽƐĚŝƐƉŽƐŝƟǀŽƐĚĂ>Ğŝϭϭ͘ϭϬϭĚĞϮϬϬϱ͕ƐĞŵƵŵĂŶĞĐĞƐƐĄƌŝĂ
ƌĞĨŽƌŵĂůĞŐŝƐůĂƟǀĂ͗ďĂƐƚĂƌŝĂƐĞĐŽŶƐŝĚĞƌĂƌƋƵĞŽĞƐƚĂďĞůĞĐŝ-
mento principal do grupo corresponde ao estabelecimento
ƉƌŝŶĐŝƉĂůĚĂƐŽĐŝĞĚĂĚĞͲŵĆĞďƌĂƐŝůĞŝƌĂΗ͘110
ůĠŵ ĚŽ Ăƌƚ͘ ϯǑ ĚĂ >Ğŝ Ŷǐ ϭϭ͘ϭϬϭͬϬϱ͕ ŽƵƚƌŽƐ ĂƌƟŐŽƐ ĨŽƌĂŵ ƉƌĞǀŝƐ-
ƚŽƐƉĂƌĂƌĞŐƵůĂƌĂĐŽŵƉĞƚġŶĐŝĂŝŶƚĞƌŶĂĚĂŝŶƐŽůǀġŶĐŝĂ͘EŽĞĐƌĞƚŽͲ>ĞŝŶǑ
ϳ͘ϲϲϭͬϰϱ͕ŽĂƌƚ͘ϭϱϲĂƚƌŝďƵşĂĂŵĞƐŵĂĐŽŵƉĞƚġŶĐŝĂ;ƉƌŝŶĐŝƉĂůĞƐƚĂďĞůĞĐŝ-
ŵĞŶƚŽͿƉĂƌĂĂĐŽŶĐĞƐƐĆŽĚĂĐŽŶĐŽƌĚĂƚĂƉƌĞǀĞŶƟǀĂ͕ĂŽƉĂƐƐŽƋƵĞŽĂƌƚ͘ϳǑ
ƉŽƐƐƵşĂƚƌġƐƉĂƌĄŐƌĂĨŽƐ͕ƋƵĞƉƌĞǀŝĂŵŚŝƉſƚĞƐĞƐĚĞĞǆĐĞĕĆŽăŶŽƌŵĂĚŽca-
put͘EĞůĞƐ͕ĞƐƟƉƵůŽƵͲƐĞƋƵĞĂĨĂůġŶĐŝĂĚŽĐŽŵĞƌĐŝĂŶƚĞĂŵďƵůĂŶƚĞĞĚŽĞŵ-
ƉƌĞƐĄƌŝŽĚĞĞƐƉĞƚĄĐƵůŽƐƉƷďůŝĐŽƐƐĞƌŝĂĚĞĐůĂƌĂĚĂƉĞůŽũƵŝǌĚŽůƵŐĂƌŽŶĚĞƐĞ
ĞŶĐŽŶƚƌĂƐƐĞŵ͕ƐĞŶĚŽŽũƵşǌŽĨĂůŝŵĞŶƚĂƌŝŶĚŝǀŝƐşǀĞůĞĐŽŵƉĞƚĞŶƚĞƉĂƌĂƚŽĚĂƐ
as ações e reclamações sobre bens, interesses e negócios da massa falida,
salvo naquelas ações em quĞĂŵĂƐƐĂĨĂůŝĚĂĨŽƐƐĞĂƵƚŽƌĂŽƵůŝƟƐĐŽŶƐŽƌƚĞ.
KĂƌƚ͘ϭϱϲŶĆŽƉƌĞĐŝƐŽƵƐĞƌƌĞƉƌŽĚƵǌŝĚŽŶĂ>ĞŝŶǑϭϭ͘ϭϬϭͬϬϱ͕ǀŝƐƚŽ
ƋƵĞŽĂƌƚ͘ϯǑ͕caput͕ŝŶĐůƵŝƵŽŝŶƐƟƚƵƚŽĚĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĞŵƐƵďƐƟ-
ƚƵŝĕĆŽăĐŽŶĐŽƌĚĂƚĂƉƌĞǀĞŶƟǀĂ͘WŽƌŽƵƚƌŽůĂĚŽ͕ĂƐĞǆĐĞĕƁĞƐĚŽƐƉĂƌĄŐƌĂ-
ĨŽƐĚŽĂƌƚ͘ϳǑĨŽƌĂŵĂƉƌŽǀĞŝƚĂĚĂƐĞŵƉĂƌƚĞĞƌĞĨŽƌŵƵůĂĚĂƐ͕ƉĂƐƐĂŶĚŽĂ
constar no art. 76 da nova lei.
ϭϭϬDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϭϲϭ͘

^ĞŐƵŶĚŽ&ĄďŝŽhůŚŽĂŽĞůŚŽ͗
ΗĂƚƌĂƟǀŝĚĂĚĞĚŽũƵşǌŽĨĂůŝŵĞŶƚĂƌŶĆŽƐĞǀĞƌŝĮĐĂƌĞůĂƟǀĂŵĞŶ-
ƚĞăƐĂĕƁĞƐŶĆŽƌĞŐƵůĂĚĂƐƉĞůĂ>ĞŝĚĞ&ĂůġŶĐŝĂĚĞƋƵĞƐĞũĂĂƵ-
ƚŽƌĂŽƵůŝƟƐĐŽŶƐŽƌƚĞĂƟǀĂĂŵĂƐƐĂĨĂůŝĚĂ͕ăƐƋƵĞĚĞŵĂŶĚĂŵ
ƋƵĂŶƟĂŝůşƋƵŝĚĂŽƵăƐĞǆĞĐƵĕƁĞƐĮƐĐĂŝƐ͘dĂŵďĠŵŶĆŽŽĐŽƌƌĞĂ
ĂƚƌĂĕĆŽƉƌĞǀŝƐƚĂĞŵůĞŝƐĞĂĐŽŵƉĞƚġŶĐŝĂũƵƌŝƐĚŝĐŝŽŶĂůĠĚŝƚĂĚĂ
ƉĞůĂŽŶƐƟƚƵŝĕĆŽ;:ƵƐƟĕĂĚŽdƌĂďĂůŚŽĞ:ƵƐƟĕĂ&ĞĚĞƌĂůͿ͘Η111
ůĠŵĚĞƐƐĞƐĚŝƉůŽŵĂƐ͕ĞŵϭϴĚĞŵĂƌĕŽĚĞϮϬϭϲ͕ĞŶƚƌŽƵĞŵǀŝŐŽƌŽ
ſĚŝŐŽĚĞWƌŽĐĞƐƐŽŝǀŝů;>ĞŝŶǑϭϯ͘ϭϬϱͬϭϱͿ͘ŶŽǀĞůůĞŝƌĞǀŝƚĂůŝǌŽƵ112ĂŵĂƚĠ-
ƌŝĂĚĞĐŽŵƉĞƚġŶĐŝĂŝŶƚĞƌŶĂĐŝŽŶĂů͕ƉĂƐƐĂŶĚŽĂƚƌĂƚĄͲůĂĞŶƚƌĞŽƐĂƌƚƐ͘ϮϭĂϮϱ͘
WŽƌĠŵ͕ƚĂůĐŽŵŽŶŽſĚŝŐŽĂŶƚĞƌŝŽƌ͕ŶĆŽƉƌĞǀŝƵŶĞŶŚƵŵĂŚŝƉſƚĞƐĞĞƐƉĞĐşĮĐĂ
ƉĂƌĂĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘WŽƌŽƵƚƌŽůĂĚŽ͕ƉŽŶƚŽƉŽƐŝƟǀŽĚŽWĠƋƵĞ
ǀĞŝŽĞŵĐŽŶƐŽŶąŶĐŝĂĐŽŵŽŚŽĚŝĞƌŶŽŝŶƚĞŶƚŽĐŽŽƉĞƌĂƟǀŽĞŶƚƌĞĂƐŶĂĕƁĞƐ͘
EĞƐƐĞĐŽŶƚĞǆƚŽ͕ƚƌĂƚŽƵĚĂĐŽŽƉĞƌĂĕĆŽŝŶƚĞƌŶĂĐŝŽŶĂůŶŽƐĂƌƟŐŽƐϮϲĞϮϳ͘^Ğ-
ŵĞůŚĂŶƚĞŵĞŶƚĞăŽďƐĞƌǀĂĕĆŽĨĞŝƚĂƉĂƌĂ>/E͕ƌĞƐƐĂůƚĂͲƐĞƋƵĞĞƐƐĂƐĚŝƐƉŽ-
ƐŝĕƁĞƐŐĞƌĂŝƐƉŽĚĞƌĆŽƐĞƌƵƟůŝǌĂĚĂƐƉĂƌĂĨĂĐŝůŝƚĂƌŽŵĂŶƵƐĞŝŽĚĞƉƌŽĐĞƐƐŽƐĚĞ
ŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ĐĂďĞŶĚŽďƌĞǀĞƐĐŽŵĞŶƚĄƌŝŽƐƐŽďƌĞĞůĂƐ͘
EŽ Ăƌƚ͘ Ϯϲ͕ Ž W ƉƌĞǀġ Ă ďĂƐĞ ƉƌŝŶĐŝƉŝŽůſŐŝĐĂ ĚĂ ĐŽŽƉĞƌĂĕĆŽ ŝŶ-
ƚĞƌŶĂĐŝŽŶĂů͕ďĞŵĐŽŵŽĞƐƟƉƵůĂƋƵĞƐƵĂƌĞŐġŶĐŝĂƐĞƌĄĞŵĐŽŶĨŽƌŵŝĚĂĚĞ
ĐŽŵ ŽƐ ƚƌĂƚĂĚŽƐ ĚĞ ƋƵĞ Ž ƌĂƐŝů ĨĂĕĂ ƉĂƌƚĞ͘ ĚŝĂŶƚĞ͕ Ž Ăƌƚ͘ Ϯϳ ĐƵŝĚĂ ĚŽ
ŽďũĞƚŽĚĂĐŽŽƉĞƌĂĕĆŽŝŶƚĞƌŶĂĐŝŽŶĂů͕ƚĂůĐŽŵŽŚŽŵŽůŽŐĂĕĆŽĚĞƐĞŶƚĞŶĕĂƐ
ĞƐƚƌĂŶŐĞŝƌĂƐĞĐŽůŚĞŝƚĂƐĚĞƉƌŽǀĂƐĞŝŶĨŽƌŵĂĕƁĞƐĞŵůŝĚĞƐƚƌĂŶƐŶĂĐŝŽŶĂŝƐ͘
KĚŝƉůŽŵĂƚƌĂƚĂ͕ĂŝŶĚĂ͕ĚŽĂƵǆşůŝŽĚŝƌĞƚŽ;ĂƌƚƐ͘ϮϴĂϯϰͿ͕ĂŽƉĂƐƐŽƋƵĞŽĂƌƚ͘
36 dispõe sobre a carta rogatória113. O novel código buscou privilegiar o
ĂƵǆşůŝŽĚŝƌĞƚŽ͕ĞŵƌĂǌĆŽĚĂĐĞůĞƌŝĚĂĚĞĞĞĮĐĄĐŝĂĚĞƐƐĞŝŶƐƚƌƵŵĞŶƚŽ͘ŽŵŽ
ĞǆĞŵƉůŽĚĞƐƐĞŝŶƚƵŝƚŽ͕ĐŝƚĞͲƐĞŽǀĞƚŽĂŽĂƌƚ͘ϯϱ͘sĞũĂͲƐĞ͕ŝŶŝĐŝĂůŵĞŶƚĞ͕ƌĞ-
ĚĂĕĆŽŽƌŝŐŝŶĂůĚŽĚŝƐƉŽƐŝƟǀŽ͗
ϭϭϭK>,K͕&ĄďŝŽhůŚŽĂ͘Curso de Direito Comercial..., p. 276.
ϭϭϮhŵĂĚĂƐƉƌŝŶĐŝƉĂŝƐŝŶŽǀĂĕƁĞƐŶŽƚƌĂƚĂŵĞŶƚŽĚĂŵĂƚĠƌŝĂĨŽŝĂŝŶĐůƵƐĆŽĚĞƉĞƌŵŝƐƐŝǀŽůĞŐĂůƉĂƌĂĂĞůĞŝĕĆŽĚĞĨŽƌŽ
ŶŽĂƌƚ͘Ϯϱ͗͞EĆŽĐŽŵƉĞƚĞăĂƵƚŽƌŝĚĂĚĞũƵĚŝĐŝĄƌŝĂďƌĂƐŝůĞŝƌĂŽƉƌŽĐĞƐƐĂŵĞŶƚŽĞŽũƵůŐĂŵĞŶƚŽĚĂĂĕĆŽƋƵĂŶĚŽŚŽƵǀĞƌ
ĐůĄƵƐƵůĂĚĞĞůĞŝĕĆŽĚĞĨŽƌŽĞǆĐůƵƐŝǀŽĞƐƚƌĂŶŐĞŝƌŽĞŵĐŽŶƚƌĂƚŽŝŶƚĞƌŶĂĐŝŽŶĂů͕ĂƌŐƵŝĚĂƉĞůŽƌĠƵŶĂĐŽŶƚĞƐƚĂĕĆŽ͘͟
ϭϭϯ^ŽďƌĞĂĚŝĨĞƌĞŶĕĂĞŶƚƌĞĂŵďŽƐŽƐŝŶƐƚƌƵŵĞŶƚŽƐ͕ǀĞũĂͲƐĞůŝĕĆŽĚĞĂƌŵĞŶdŝďƵƌĐŝŽ͗͞WŽƌŵĞŝŽĚĞĂƵǆşůŝŽĚŝƌĞƚŽ͕
ƉĞƌŵŝƚĞͲƐĞƋƵĞĂƵƚŽƌŝĚĂĚĞĞƐƚƌĂŶŐĞŝƌĂƐŽůŝĐŝƚĞĂƌĞĂůŝǌĂĕĆŽĚĞĚŝůŝŐġŶĐŝĂƐŶŽƉĂşƐ͕ƚĂůĐŽŵŽŽĐŽƌƌĞŶŽąŵďŝƚŽĚĂƐ
ĐĂƌƚĂƐƌŽŐĂƚſƌŝĂƐ͘ƉƌŝŶĐŝƉĂůĚŝĨĞƌĞŶĕĂĞŶƚƌĞŽƐŝŶƐƟƚƵƚŽƐĠŽĚŝƌĞŝƚŽĂƉůŝĐĄǀĞůĞĂŽƌŝŐĞŵĚĂĚĞĐŝƐĆŽƋƵĞĞŶƐĞũĂŽ
ƉĞĚŝĚŽ͘ŶƋƵĂŶƚŽĐĂƌƚĂƐƌŽŐĂƚſƌŝĂƐƚġŵĐŽŵŽĨƵŶĚĂŵĞŶƚŽĚĞĐŝƐĆŽĚĞĂƵƚŽƌŝĚĂĚĞĞƐƚƌĂŶŐĞŝƌĂƉƌŽĨĞƌŝĚĂĚĞĂĐŽƌĚŽ
ĐŽŵƐƵĂƐƉƌſƉƌŝĂƐůĞŝƐ͕ŽƉĞĚŝĚŽĚĞĂƵǆşůŝŽĚŝƌĞƚŽŶĆŽƐĞĨƵŶĚĂŵĞŶƚĂĞŵƵŵĂĚĞĐŝƐĆŽƉƌĠǀŝĂ͕ŚĂǀĞŶĚŽĂŶĞĐĞƐƐŝĚĂĚĞ
ĚĞƋƵĞĂƵƚŽƌŝĚĂĚĞďƌĂƐŝůĞŝƌĂĐŽŵƉĞƚĞŶƚĞ͕ũƵĚŝĐŝĂůŽƵŶĆŽ͕ĚĞĐŝĚĂ͕ĚĞĂĐŽƌĚŽĐŽŵĂƐůĞŝƐďƌĂƐŝůĞŝƌĂƐ͕ƐŽďƌĞĂǀŝĂďŝ-
ůŝĚĂĚĞĚĂĚŝůŝŐġŶĐŝĂ͘KƵƐĞũĂ͕ĂƐĐŽŵŝƐƐƁĞƐƌŽŐĂƚſƌŝĂƐƐĞƐƵďŵĞƚĞŵƚĆŽƐŽŵĞŶƚĞĂŽũƵşǌŽĚĞĚĞůŝďĂĕĆŽĚĂĚĞĐŝƐĆŽ
ĞƐƚƌĂŶŐĞŝƌĂ͕ĚŝǀĞƌƐĂŵĞŶƚĞ͕ŽĂƵǆşůŝŽĚŝƌĞƚŽƚĞŵĐŽŵŽƌĞƋƵŝƐŝƚŽĚĞĐŝƐĆŽĚĞĂƵƚŽƌŝĚĂĚĞŶĂĐŝŽŶĂůƋƵĞ͕ăůƵǌĚŽĚŝƌĞŝƚŽ
ďƌĂƐŝůĞŝƌŽ͕ĚĞƚĞƌŵŝŶĂƌĄĂƉŽƐƐŝďŝůŝĚĂĚĞĚŽƉĞĚŝĚŽ͘͟;d/hZ/K͕ĂƌŵĞŵ͖ZZK^K͕>ƵşƐZŽďĞƌƚŽ͘ŝƌĞŝƚŽĐŽŶƐƟƚƵ-
cional internacional͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗ZĞŶŽǀĂƌ͕ϮϬϭϯ͕Ɖ͘ϱϱϭͿ͘

͞ƌƚ͘ϯϱ͘ĂƌͲƐĞͲĄƉŽƌŵĞŝŽĚĞĐĂƌƚĂƌŽŐĂƚſƌŝĂŽƉĞĚŝĚŽĚĞ
ĐŽŽƉĞƌĂĕĆŽĞŶƚƌĞſƌŐĆŽũƵƌŝƐĚŝĐŝŽŶĂůďƌĂƐŝůĞŝƌŽĞſƌŐĆŽũƵ-
ƌŝƐĚŝĐŝŽŶĂůĞƐƚƌĂŶŐĞŝƌŽƉĂƌĂƉƌĄƟĐĂĚĞĂƚŽĚĞĐŝƚĂĕĆŽ͕ŝŶƟ-
ŵĂĕĆŽ͕ ŶŽƟĮĐĂĕĆŽ ũƵĚŝĐŝĂů͕ ĐŽůŚĞŝƚĂ ĚĞ ƉƌŽǀĂƐ͕ obtenção
de informações e cumprimento de decisão interlocutória,
ƐĞŵƉƌĞƋƵĞŽĂƚŽĞƐƚƌĂŶŐĞŝƌŽĐŽŶƐƟƚƵŝƌĚĞĐŝƐĆŽĂƐĞƌĞǆĞ-
ĐƵƚĂĚĂŶŽƌĂƐŝů͘͟
ƌĂǌĆŽƉĂƌĂŽǀĞƚŽƐĞƌŝĂƋƵĞ͞ŽĚŝƐƉŽƐŝƟǀŽŝŵƉƁĞƋƵĞĚĞƚĞƌŵŝŶĂ-
ĚŽƐĂƚŽƐƐĞũĂŵƉƌĂƟĐĂĚŽƐĞǆĐůƵƐŝǀĂŵĞŶƚĞƉŽƌŵĞŝŽĚĞĐĂƌƚĂƌŽŐĂƚſƌŝĂ͕Ž
ƋƵĞĂĨĞƚĂƌŝĂĂĐĞůĞƌŝĚĂĚĞĞĞĨĞƟǀŝĚĂĚĞĚĂĐŽŽƉĞƌĂĕĆŽũƵƌşĚŝĐĂŝŶƚĞƌŶĂĐŝŽ-
ŶĂůƋƵĞ͕ŶĞƐƐĞƐĐĂƐŽƐ͕ƉŽĚĞƌŝĂƐĞƌƉƌŽĐĞƐƐĂĚĂƉĞůĂǀŝĂĚŽĂƵǆşůŝŽĚŝƌĞƚŽ͟114.
,Ą ƵŵĂ ƌĞĂů ƉƌĞŽĐƵƉĂĕĆŽ ĐŽŵ Ă ĞĮĐĄĐŝĂ ĚŽ ĨĞŶƀŵĞŶŽ ĚĂ ĐŽŽƉĞƌĂĕĆŽ͕
ƋƵĞƚƌĂĚŝĐŝŽŶĂůŵĞŶƚĞŶĆŽĞƌĂĂůǀŽĚĞĂƚĞŶĕĆŽƉĞůŽƌĂƐŝů115.
KůĞŐŝƐůĂĚŽƌŶĂĐŝŽŶĂů͕ĐŽŶƚƵĚŽ͕ŽƉƚŽƵƉŽƌĨĂǌĞƌĞǆƉƌĞƐƐĂĚĞĨĞƐĂĚŽƐ
ŝŶƚĞƌĞƐƐĞƐŵĂŝƐǀŝƚĂŝƐĚŽƉĂşƐĂŽƉƌĞǀĞƌŶŽĂƌƚ͘ϯϵƋƵĞ͞΀Ž΁ƉĞĚŝĚŽƉĂƐƐŝǀŽ
ĚĞ ĐŽŽƉĞƌĂĕĆŽ ũƵƌşĚŝĐĂ ŝŶƚĞƌŶĂĐŝŽŶĂů ƐĞƌĄ ƌĞĐƵƐĂĚŽ ƐĞ ĐŽŶĮŐƵƌĂƌ ŵĂŶŝ-
ĨĞƐƚĂŽĨĞŶƐĂăŽƌĚĞŵƉƷďůŝĐĂ͘͟ŚŽŵŽůŽŐĂĕĆŽĚĞĚĞĐŝƐĆŽĞƐƚƌĂŶŐĞŝƌĂĞĂ
concessão de exequaturƐĆŽƚƌĂƚĂĚĂƐĂƉĂƌƚŝƌĚŽĂƌƚ͘ϵϲϬ͕ŝƐƚŽĠ͕ĨŽƌĂĚŽ
ĐĂƉşƚƵůŽ ĚĞ ĐŽŽƉĞƌĂĕĆŽ ŝŶƚĞƌŶĂĐŝŽŶĂů͕ ŝŶŽďƐƚĂŶƚĞ ĞƐƚĞũĂŵ ƉƌĞǀŝƐƚĂƐ Ğŵ
algumas previsões espaças.
WŽƌ Įŵ͕ ĐĂďĞ ĐŝƚĂƌ ŶĞƐƚĞ ƚſƉŝĐŽ Ž ſĚŝŐŽ ƵƐƚĂŵĂŶƚĞ͕ ƉŽƐƚŽ ƋƵĞ
ƐĞũĂ ŶŽƌŵĂ ĐŽŶǀĞŶĐŝŽŶĂů͕ ƚƌŽƵǆĞ ĂůŐƵŵĂƐ ĚŝƐƉŽƐŝĕƁĞƐ ƐŽďƌĞ ŝŶƐŽůǀġŶĐŝĂ
ƚƌĂŶƐŶĂĐŝŽŶĂůĞŵƐĞƵďŽũŽ͕ăƐƋƵĂŝƐ͕ĞŵƚĞƐĞ͕ƉŽĚĞƐĞƐŽĐŽƌƌĞƌŽũƵŝǌďƌĂ-
ƐŝůĞŝƌŽĞŵĞǀĞŶƚƵĂůĂƵƐġŶĐŝĂŶŽƌŵĂƟǀĂ͘ŵϭϴϴϵ͕ĚĞůĞŐĂĚŽƐĚŽƐƉĂşƐĞƐ
ĂŵĞƌŝĐĂŶŽƐƐĞƌĞƵŶŝƌĂŵĞŵtĂƐŚŝŶŐƚŽŶƉĂƌĂĚĂƌŝŶşĐŝŽăƐŽŶĨĞƌġŶĐŝĂƐ
Pan-Americanas, que resultaram na aprovação, em 1928, do Código de
ŝƌĞŝƚŽ /ŶƚĞƌŶĂĐŝŽŶĂů WƌŝǀĂĚŽ͕ ƉƌŽũĞƚĂĚŽ ƉĞůŽ ũƵƌŝƐƚĂ ĐƵďĂŶŽ ŶƚŽŶŝŽ
^ĄŶĐŚĞǌĚĞƵƐƚĂŵĂŶƚĞǇ^ŝƌǀĞŶ͘KĚŽĐƵŵĞŶƚŽĨŽŝƌĂƟĮĐĂĚŽƉŽƌǀĄƌŝŽƐ
ƉĂşƐĞƐ ůĂƟŶŽͲĂŵĞƌŝĐĂŶŽƐ͕ ĐŽŵŽ͕ v.g.͕ ŽůşǀŝĂ͕ ŽƐƚĂ ZŝĐĂ͕ EŝĐĂƌĄŐƵĂ͕ WĂ-
ŶĂŵĄ͕WĞƌƵ͕ĞŶƚƌĞŽƵƚƌŽƐ͘KƌĂƐŝůƚĂŵďĠŵŽƌĂƟĮĐŽƵ͕ŝŶƚĞƌŶĂůŝǌĂŶĚŽͲŽ
ĂƚƌĂǀĠƐĚŽĞĐƌĞƚŽŶǑϭϴ͘ϴϳϭ͕ĚĞϭϵϮϵ͘
KƉƌŝŶĐşƉŝŽĚĂƵŶŝĚĂĚĞĨŽŝĂĚŽƚĂĚŽŶŽĂƌƚ͘ϰϭϰĂŽĞƐƟƉƵůĂƌƋƵĞ͕ŶŽ
ĐĂƐŽ ĚĞ ĚĞǀĞĚŽƌ ƋƵĞ ƚĞŶŚĂ ĂƉĞŶĂƐ Ƶŵ ĚŽŵŝĐşůŝŽ Đŝǀŝů ŽƵ ĐŽŵĞƌĐŝĂů͕ ŶĆŽ
ƉŽĚĞŚĂǀĞƌŵĂŝƐƋƵĞƵŵũƵşǌŽĨĂůŝŵĞŶƚĂƌƉĂƌĂƚŽĚŽƐŽƐďĞŶƐĞŽďƌŝŐĂĕƁĞƐ
114 Para leitura da mensagem de veto integral, consulte фŚƩƉ͗ͬͬǁǁǁ͘ƉůĂŶĂůƚŽ͘ŐŽǀ͘ďƌͬĐĐŝǀŝůͺϬϯͬͺƚŽϮϬϭϱͲ

ϮϬϭϴͬϮϬϭϱͬDƐŐͬsWͲϱϲ͘Śƚŵх. Acesso em 21.03.16.
ϭϭϱd/hZ/K͕ĂƌŵĞŵ͖ZZK^K͕>ƵşƐZŽďĞƌƚŽ͘ŝƌĞŝƚŽĐŽŶƐƟƚƵĐŝŽŶĂů͘͘͘p. 522.

ŶŽąŵďŝƚŽĚŽƐƉĂşƐĞƐƐŝŐŶĂƚĄƌŝŽƐ͘WŽƌĠŵ͕ŶŽĂƌƚ͘ϰϭϱ͕ŽſĚŝŐŽƉƌĞƐĐƌĞ-
ǀĞƵƋƵĞƉŽĚĞŚĂǀĞƌƚĂŶƚŽƐũƵşǌŽƐƋƵĂŶƚŽŽŶƷŵĞƌŽĚĞĞƐƚĂďĞůĞĐŝŵĞŶ-
ƚŽƐŵĞƌĐĂŶƟƐĞĐŽŶŽŵŝĐĂŵĞŶƚĞƐĞƉĂƌĂĚŽƐ͘ĐŽŵƉĞƚġŶĐŝĂĚŽũƵşǌŽĨŽŝ
ĞƐƚĂďĞůĞĐŝĚĂŶŽĂƌƚ͘ϯϮϴ͗͞EŽƐĐŽŶĐƵƌƐŽƐĚĞĐƌĞĚŽƌĞƐĞŶŽĚĞĨĂůůĞŶĐŝĂ͕
ƋƵĂŶĚŽĨƀƌǀŽůƵŶƚĂƌŝĂĂĐŽŶĮƐƐĆŽĚĞƐƐĞĞƐƚĂĚŽƉĞůŽĚĞǀĞĚŽƌ͕ƐĞƌĄũƵŝǌ
ĐŽŵƉĞƚĞŶƚĞŽĚŽƐĞƵĚŽŵŝĐŝůŝŽ͘͟:ĄƐĞĂĂĕĆŽĨŽƌĂũƵŝǌĂĚĂƉĞůŽĐƌĞĚŽƌ͕ƐĞ-
ƌŝĂĐŽŵƉĞƚĞŶƚĞŽĚĞ͞ƋƵĂůƋƵĞƌĚŽƐůƵŐĂƌĞƐƋƵĞĐŽŶŚĞĕĂĚĂƌĞĐůĂŵĂĕĆŽ
ƋƵĞĂƐŵŽƟǀĂ͕ƉƌĞĨĞƌŝŶĚŽͲƐĞ͕ĐĂƐŽĞƐƚĞũĂĞŶƚƌĞĞůůĞƐ͕ŽĚŽĚŽŵŝĐşůŝŽ͕ŽƵ͕
ŶĂĨĂůƚĂĚĞƐƚĞ͕ĂƌĞƐŝĚġŶĐŝĂ͘͟
ŵƌĞůĂĕĆŽĂŽƉƌŝŶĐşƉŝŽĚĂƵŶŝǀĞƌƐĂůŝĚĂĚĞ͕ĞƐƟƉƵůŽƵŽĂƌƚ͘ϰϭϲƋƵĞ
ĂĚĞĐůĂƌĂĕĆŽĚŽĞƐƚĂĚŽĚĞŝŶƐŽůǀġŶĐŝĂĚŽĐƌĞĚŽƌƉŽƐƐƵŝƌĄĞĨĞŝƚŽƐĞǆƚƌĂƚĞƌ-
ƌŝƚŽƌŝĂŝƐŵĞĚŝĂŶƚĞŽĐƵŵƉƌŝŵĞŶƚŽƉƌĠǀŝŽĚĂƐĨŽƌŵĂůŝĚĂĚĞƐĚĞƌĞŐŝƐƚƌŽŽƵ
ƉƵďůŝĐĂĕĆŽ͕ƋƵĞƐĞũĂŵĞǆŝŐŝĚĂƐƉŽƌĐĂĚĂƐƚĂĚŽĐŽŶƚƌĂƚĂŶƚĞ͘ĞǀĞƌŝĂ͕ĂĚĞ-
ŵĂŝƐ͕ƌĞƐƉĞŝƚĂƌŽƉƌŽĐĞĚŝŵĞŶƚŽŚŽŵŽůŽŐĂƚſƌŝŽĚĞƐĞŶƚĞŶĕĂƐĞƐƚƌĂŶŐĞŝƌĂƐ͕
ĐŽŶĨŽƌŵĞůĞĐŝŽŶĂ,ĂƌŽůĚŽsĂůůĂĚĆŽ͗
Η ƐĞ Ž ſĚŝŐŽ ĐŽŶĐĞĚĞ ĞĨĞŝƚŽƐ ĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ ă ŝŶĐĂƉĂĐŝ-
dade do falido, mediante simples registro, art. 416, para o
ƌĞĐŽŶŚĞĐŝŵĞŶƚŽĚĂĨĂůġŶĐŝĂĞǆŝŐĞƋƵĞĂƐĞŶƚĞŶĕĂƐĞũĂŚŽŵŽ-
ůŽŐĂĚĂŶŽŽƵƚƌŽƐƚĂĚŽ͕ĂƌƚƐ͘ϰϭϳͬϰϯϱ͕ƐĂůǀŽĞĨĞŝƚŽƐĚĂĐŽŝƐĂ
ũƵůŐĂĚĂ͘ĚŵŝƚĞĂƌĞƐƐĂůǀĂ͕ƉĂƌĂŽũƵşǌŽĚĂƐŝƚƵĂĕĆŽ͕ĚĂƐĂĕƁĞƐ
ƌĞĂŝƐĞƉƌŝǀŝůĠŐŝŽƐƌĞĂŝƐ͕Ăƌƚ͘ϰϮϬ͘Η116
KĂƌƚ͘ϰϭϴ͕ĐŽŶƚƵĚŽ͕ƌĞƐƐĂůǀĂƋƵĞŽƐƐşŶĚŝĐŽƐŶŽŵĞĂĚŽƐĞŵƵŵƐ-
ƚĂĚŽĐŽŶƚƌĂƚĂŶƚĞƉŽĚĞŵĞǆĞƌĐĞƌƐƵĂƐĨƵŶĕƁĞƐƐĞŵƋƵĂůƋƵĞƌƉƌŽĐĞĚŝŵĞŶ-
ƚŽůŽĐĂůĚĞƌĞĐŽŶŚĞĐŝŵĞŶƚŽ͘ŵƌĞůĂĕĆŽăƐĐŽŶĐŽƌĚĂƚĂƐ͕ĚĞƐƚĂĐĂ,ĂƌŽůĚŽ
sĂůůĂĚĆŽƋƵĞƐĞƵƌĞŐŝŵĞŝŶƚĞƌŶĂĐŝŽŶĂůĨŽŝŽŵĞƐŵŽĚĂƐĨĂůġŶĐŝĂƐ͕ƉŽƐƐƵŝŶ-
ĚŽ͕ƉŽƌƚĂŶƚŽ͕ĞĨĞŝƚŽƐĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂŝƐ117͘dĂŵďĠŵƉŽƐƐƵŝƌŝĂŵƚĂŝƐĞĨĞŝƚŽƐĂ
ƌĞĂďŝůŝƚĂĕĆŽĚŽĨĂůŝĚŽ͕ŶŽƐƚĞƌŵŽƐĚĂĚĞĐŝƐĆŽũƵĚŝĐŝĂůƋƵĞĂƉƌŽĨĞƌŝƵ͕ĂƉſƐ
ƐĞƵƚƌąŶƐŝƚŽĞŵũƵůŐĂĚŽ;Ăƌƚ͘ϰϮϮͿ͘
ŵƌĂǌĆŽĚĞƐƐĂƐŶŽƌŵĂƐ͕WĂƵůŽĂŵƉĂŶĂ&ŝůŚŽĞŶƚĞŶĚĞƋƵĞŽĐſĚŝ-
ŐŽĂĚŽƚŽƵƵŵƐŝƐƚĞŵĂƵŶŝǀĞƌƐĂůŝƐƚĂĂƚĞŶƵĂĚŽ͗
Η΀΁ƐŶŽƌŵĂƐĚŽſĚŝŐŽƵƐƚĂŵĂŶƚĞƉĞŶĚĞŵƉĂƌĂŽƵŶŝǀĞƌƐĂ-
ůŝƐŵŽŵĂŝƐĚŽƋƵĞĂƐŶŽƌŵĂƐďƌĂƐŝůĞŝƌĂƐƋƵĞůŚĞƐĞƌĂŵĐŽŶƚĞŵ-
ƉŽƌąŶĞĂƐʹĞŵĂŝƐĚŽƋƵĞŽƵƚƌŽƐƚƌĂƚĂĚŽƐŝŶƚĞƌŶĂĐŝŽŶĂŝƐůĂƟŶŽ-

117 Idem, p. 47.

-americanos a respeito do assunto. Entretanto, como apontou
DŝƌĂŶĚĂ sĂůǀĞƌĚĞ͕ Ž ĐſĚŝŐŽ ĂŝŶĚĂ ƚĞŵ ƌĂşǌĞƐ ƚĞƌƌŝƚŽƌŝĂůŝƐƚĂƐ
muito fortes em virtude da norma que permite a abertura de
ƵŵĂƉůƵƌĂůŝĚĂĚĞĚĞƉƌŽĐĞƐƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂŶĂŚŝƉſƚĞƐĞĚĞŽ
devedor manter estabelecimentos economicamente separados
ĞŵŵĂŝƐĚĞƵŵƉĂşƐƐŝŐŶĂƚĄƌŝŽ͘WŽƌĞƐƐĂƌĂǌĆŽ͕ĚŝǌͲƐĞƋƵĞŽſĚŝ-
ŐŽƵƐƚĂŵĂŶƚĞĂĚŽƚŽƵƵŵĂĨŽƌŵĂĂƚĞŶƵĂĚĂĚĞƵŶŝǀĞƌƐĂůŝƐŵŽ͘
ƉŽƐƐŝďŝůŝĚĂĚĞĚĞĞǆŝƐƚġŶĐŝĂĚĞĚŝǀĞƌƐŽƐƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂ-
ƌĞƐĂƵƚƀŶŽŵŽƐƉĂƌĂĐĂĚĂĞƐƚĂďĞůĞĐŝŵĞŶƚŽĚŽĚĞǀĞĚŽƌĠ͕ĂůŝĄƐ͕
ĂƉƌŝŶĐŝƉĂůĚŝĨĞƌĞŶĕĂĚŽſĚŝŐŽƵƐƚĂŵĂŶƚĞƉĂƌĂŽƐƚĞǆƚŽƐĚĞ
ĐŽŶǀĞŶĕĆŽƋƵĞ͕ŶĂĠƉŽĐĂ͕ƐĞĚŝƐĐƵƟĂŵŶĂƵƌŽƉĂ͘Η118
WŽƌŵĂŝƐƋƵĞŽſĚŝŐŽƚĞŶŚĂƐŝĚŽƌĂƟĮĐĂĚŽƉŽƌŵƵŝƚŽƐƉĂşƐĞƐůĂƟ-
ŶŽͲĂŵĞƌŝĐĂŶŽƐ͕ĂůŐƵŵĂƐĞĐŽŶŽŵŝĂƐĚĞƉĞƐŽŶĂĠƉŽĐĂ͕ĐŽŵŽĂƌŐĞŶƟŶĂ͕
ŶĆŽŽĮǌĞƌĂŵ͘ůĠŵĚŝƐƐŽ͕ŽƐƉƌſƉƌŝŽƐƐƚĂĚŽƐhŶŝĚŽƐĚĂŵĠƌŝĐĂ͕ĞĐŽ-
ŶŽŵŝĂĚĞƉŽŶƚĂ͕ŶĆŽƌĞƟĮĐĂƌĂŵŽŝŶƐƚƌƵŵĞŶƚŽ͘ƐƐŝŵ͕ĐŽŶƐŝĚĞƌĂŶĚŽƋƵĞ
ŽƐƉƌŝŶĐŝƉĂŝƐŇƵǆŽƐĚĞŝŶǀĞƐƟŵĞŶƚŽŽĐŽƌƌŝĂŵĞŶƚƌĞƉĂşƐĞƐƋƵĞŶĆŽĞƌĂŵ
ĂďƌĂŶŐŝĚŽƐ ƉĞůĂƐ ĚŝƐƉŽƐŝĕƁĞƐ ĚŽ ſĚŝŐŽ ƵƐƚĂŵĂŶƚĞ͕ Ž ĚŝƉůŽŵĂ ƌĞƐƚŽƵ
ƉƌĂƟĐĂŵĞŶƚĞŝŶƵƟůŝǌĂĚŽ͗
ΗůƚŚŽƵŐŚƌĂǌŝůŚĂƐƌĂƟĮĞĚƚŚĞƵƐƚĂŵĂŶƚĞŽĚĞ͕ǁŚŽƐĞ
ƉƵƌƉŽƐĞ ŝƐ ƚŽ ŐŽǀĞƌŶ ĂƵƚŽŵĂƟĐ ƌĞĐŽŐŶŝƟŽŶ ĂŶĚ ĞŶĨŽƌĐĞ-
ŵĞŶƚŽĨďĂŶŬƌƵƉƚĐǇƉƌŽĐĞĚƵƌĞƐ͕ƚŚĞĐŽŶǀĞŶƟŽŶŝƐƌĞƐƚƌŝĐƚ-
ĞĚƚŽƐŝŐŶĂƚŽƌǇƐƚĂƚĞƐ;>ĂƟŶŵĞƌŝĐĂĐŽƵŶƚƌŝĞƐͿ͕ĞǆĐůƵĚŝŶŐ
ƚŚĞŵŽƐƚŝŵƉŽƌƚĂŶƚƌĂǌŝůŝĂŶŝŶǀĞƐƚŽƌƉĂƌƚŶĞƌƐƐƵĐŚĂƐƚŚĞ
hŶŝƚĞĚ^ƚĂƚĞƐĂŶĚƵƌŽƉĞĂŶhŶŝŽŶ;hͿĐŽƵŶƚƌŝĞƐ͘&ƵƌƚŚĞƌ-
ŵŽƌĞ͕ ƚŚĞ ĐŽĚĞ ŚĂƐ ŶŽƚ ĂĚĚƌĞƐƐĞĚ ĐŽŽƉĞƌĂƟŽŶ ĂŶĚ ĂƐƐŝƐ-
tance procedures in cases of parallel proceedings in vari-
ŽƵƐũƵƌŝƐĚŝĐƟŽŶƐ͘,ĞŶĐĞ͕ƚŚĞĂƉƉůŝĐĂƟŽŶŽĨƚŚĞƵƐƚĂŵĂŶƚĞ
ŽĚĞŚĂƐďĞĞŶĂůŵŽƐƚŶŽŶĞǆŝƐƚĞŶƚďĞĐĂƵƐĞƚŚĞŵĂŝŶƐŇŽǁ
ŽĨŝŶǀĞƐƚŵĞŶƚŝƐĨƌŽŵŽƌŝƐůĞŐĂůůǇĐŽŶŶĞĐƚĞĚǁŝƚŚŽƚŚĞƌũƵ-
ƌŝƐĚŝĐƟŽŶ͕ƌĂƚŚĞƌƚŚĂŶŝŶǀĞƐƚŽƌƐďĞŝŶŐůŽĐĂƚĞĚŝŶƚŚĞƐŝŐŶĂ-
tory stateƐŽĨƚŚĞĐŽĚĞΗ͘ 119
Inobstante a situação apresentada, Jacob Dolinger acentua o papel
ĚŽſĚŝŐŽĐŽŵŽŝŵƉŽƌƚĂŶƚĞĨŽŶƚĞĚŽƵƚƌŝŶĄƌŝĂ͗
ϭϭϴDWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϭϲϭ͘
ϭϭϵ>Kd>>/͕&ĞƌŶĂŶĚŽ͘Η/ŶƚĞƌŶĂƟŽŶĂůdƌĂĚĞĂŶĚ/ŶƐŽůǀĞŶĐǇ>Ăǁ͗/ƐƚŚĞhE/dZ>DŽĚĞů>ĂǁŽŶƌŽƐƐͲŽƌĚĞƌ
/ŶƐŽůǀĞŶĐǇ ĂŶ ŶƐǁĞƌ ĨŽƌ ƌĂǌŝů͍ ;Ŷ ĐŽŶŽŵŝĐ ŶĂůǇƐŝƐ ŽĨ /ƚƐ ĞŶĞĮƚƐ ŽŶ /ŶƚĞƌŶĂƟŽŶĂů dƌĂĚĞͿΗ. Law and Busi-
ness Review of the Americas͕ǀ͘ϭϰ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬǁŽƌŬƐ͘ďĞƉƌĞƐƐ͘ĐŽŵͬĨĞƌŶĂŶĚŽůŽĐĂƚĞůůŝͬϭͬх. Acesso em
21.03.2016, p. 339.

ΗKďƐĞƌǀĞͲƐĞ͕ ĐŽŶƚƵĚŽ͕ ƋƵĞ͕ ŵĞƐŵŽ ĂĚŵŝƟŶĚŽ Ă ƚĞŽƌŝĂ ĚĞ
ƋƵĞŽſĚŝŐŽƵƐƚĂŵĂŶƚĞŶĆŽƐĞĂƉůŝĐĂĂƋƵĞƐƚƁĞƐƋƵĞĞŶ-
ǀŽůǀĂŵŶĂĐŝŽŶĂŝƐŽƵĚŽŵŝĐŝůŝĂĚŽƐĞŵƉĂşƐĞƐƋƵĞŶĆŽŽƌĂƟ-
ĮĐĂƌĂŵ͕ŝƐƐŽƐŝŐŶŝĮĐĂƋƵĞŶĆŽŚĄĂƉůŝĐĂĕĆŽĐŽŐĞŶƚĞ͕ŵĂƐŽ
ſĚŝŐŽƉŽĚĞƌĄƐĞŵƉƌĞƐĞƌŝŶǀŽĐĂĚŽĐŽŵŽĨŽŶƚĞĚŽƵƚƌŝŶĄƌŝĂ͕
ĐŽŵŽ ǀŝŵŽƐ ĂĐŝŵĂ͕ ĂŽ ƚƌĂƚĂƌŵŽƐ ĚĂƐ ĐŽŶǀĞŶĕƁĞƐ ŶĆŽ ƌĂƟ-
ĮĐĂĚĂƐ ƋƵĞ ƐĆŽ ĂĐĞŝƚĂƐ ĐŽŵŽ ĨŽŶƚĞ ĚŽ ŝƌĞŝƚŽ /ŶƚĞƌŶĂĐŝŽ-
ŶĂůWƌŝǀĂĚŽ͘ŽŶǀĞŶĕĆŽŶĆŽƌĂƟĮĐĂĚĂĠƐĞŐƵƌĂŵĞŶƚĞƚĆŽ
ŝŵƉŽƌƚĂŶƚĞƋƵĂŶƚŽŽƚƌĂďĂůŚŽĚĞƵŵũƵƌŝƐƚĂŝƐŽůĂĚŽĞŵƐĞƵ
ŐĂďŝŶĞƚĞ͘ƐƐĞĨŽŝŽĞŶƚĞŶĚŝŵĞŶƚŽĚĞĚƵĂƌĚŽƐƉşŶĚŽůĂŶŽ
ƐĞŶƟĚŽĚĞƋƵĞĞŵƌĞůĂĕĆŽĂŽƐŽƵƚƌŽƐƐƚĂĚŽƐŽſĚŝŐŽĚĞǀĞ-
ƌŝĂƐĞƌĂƉůŝĐĂĚŽĐŽŵŽĨŽŶƚĞĚŽƵƚƌŝŶĄƌŝĂ͘Η120
Percebe-se que, ĞŵďŽƌĂŽůĞŐŝƐůĂĚŽƌďƌĂƐŝůĞŝƌŽƚĞŶŚĂƐŝĚŽƉƌĞĐƵƌƐŽƌ

ĂŽƚƌĂƚĂƌĚĂĨĂůġŶĐŝĂŶŽŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ƉŽƌŝŶƚĞƌŵĠĚŝŽĚŽ
ĞĐƌĞƚŽŶǑϲ͘ϵϴϮͬϭϴϳϴ͕ŽƉĂşƐƋƵĞĚŽƵͲƐĞŝŶĞƌƚĞĞŵĂƚƵĂůŝǌĂƌĂŵĂƚĠƌŝĂĞ
ƉĂƐƐŽƵĂĚĞƚĞƌƵŵƋƵĂĚƌŽĚĞƉƌŽĨƵŶĚĂĞƐĐĂƐƐĞǌŶŽƌŵĂƟǀĂ͕ĞƐƉĞĐŝĂůŵĞŶ-
ƚĞƉĂƌĂƚƌĂƚĂƌĚŽƐĐĂƐŽƐƋƵĞĞŶǀŽůǀĂŵŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐŵƵůƟŶĂĐŝŽŶĂŝƐ͘
ŵƌĞůĂĕĆŽĂŽſĚŝŐŽƵƐƚĂŵĂŶƚĞ͕ŝŶŽďƐƚĂŶƚĞĂŝŶĚĂĞƐƚĞũĂĞŵǀŝŐŽƌ͕ƐƵĂ
ĂƉůŝĐĂďŝůŝĚĂĚĞǀĞŵƐĞŶĚŽĚƵƌĂŵĞŶƚĞƋƵĞƐƟŽŶĂĚĂ͘ůĠŵĚŝƐƐŽ͕ŽĚŝƉůŽŵĂ
ĚĂƚĂĚŽŝŶşĐŝŽĚŽƐĠĐƵůŽyyĞ͕ŵĞƐŵŽĂƉůŝĐĂĚŽ͕ŶĆŽƉŽƐƐƵŝƌŝĂĚŝƐƉŽƐŝĕƁĞƐ
ĂĚĞƋƵĂĚĂƐ ƉĂƌĂ ƌĞŐƵůĂƌ ĐŽŵ ĞĮĐŝġŶĐŝĂ ŽƐ ĐŽŵƉůĞǆŽƐ ĂƐƐƵŶƚŽƐ Ğŵ ƵŵĂ
ŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘
7. O PEDIDO DE RECUPERAÇÃO JUDICIAL DA OGX
ŽŵŽ ƐĞ ǀŝƵ͕ Ă ĂƵƐġŶĐŝĂ ĚĞ ƌĞŐƌĂƐ ĞƐƉĞĐşĮĐĂƐ ƐŽďƌĞ ŝŶƐŽůǀġŶĐŝĂ

ƚƌĂŶƐŶĂĐŝŽŶĂůŶŽŽƌĚĞŶĂŵĞŶƚŽďƌĂƐŝůĞŝƌŽŐĞƌĂĨŽƌƚĞŝŶƐĞŐƵƌĂŶĕĂũƵƌşĚŝĐĂ
ăƐƉĂƌƚĞƐĞŶǀŽůǀŝĚĂƐ͘/ůƵƐƚƌĂͲƐĞƚĂůƐŝƚƵĂĕĆŽĐŽŵĂŶĄůŝƐĞĚŽĐĂƐŽK'y͕ƋƵĞ
ƚƌĂƚŽƵĚĂƋƵĞƐƚĆŽƌĞĐƵƉĞƌĂĐŝŽŶĂůŶŽƐŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐ͕ƚĞŶĚŽƋƵĞůŝĚĂƌ
ĐŽŵĂĐŽŵƉůĞǆĂƋƵĞƐƚĆŽĚĞƐƵďƐŝĚŝĄƌŝĂƐĂƵƚƀŶŽŵĂƐƐŝƚƵĂĚĂƐŶŽĞǆƚĞƌŝŽƌ͘
Em razão de situaĕĆŽĨŝŶĂŶĐĞŝƌĂĚĞƐĨĂǀŽƌĄǀĞů͕ĂK'yWĞƚƌſůĞŽĞ'ĄƐ
WĂƌƟĐŝƉĂĕƁĞƐ^͕ͬĐŽŵƐĞĚĞŶŽZŝŽĚĞ:ĂŶĞŝƌŽ͕ĞƐƵĂƐĐŽŶƚƌŽůĂĚĂƐƌĞƋƵĞ-
ƌĞƌĂŵƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͘KĨĞŝƚŽĨŽŝĚŝƐƚƌŝďƵşĚŽĞŵϯϬ͘ϭϬ͘ϮϬϭϯƉĂƌĂĂϰǐ
sĂƌĂŵƉƌĞƐĂƌŝĂů͘ĞŶƚƌĞĂƐĐŽŶƚƌŽůĂĚĂƐ͕ŚĂǀŝĂĚƵĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝ-
ƌĂƐ͗K'y/ŶƚĞƌŶĂĐŝŽŶĂů'D,ĞK'yƵƐƚƌŝĂ'D,͘ŵϮϭ͘ϭϭ͘ϮϬϭϯ͕ĂĚ-
ϭϮϬK>/E'Z͕:ĂĐŽď͘Direito Internacional privado..., p. 231.

ǀĞŝŽĚĞĐŝƐĆŽĚĞƉƌŽĐĞƐƐĂŵĞŶƚŽ͕ĂĚŵŝƟŶĚŽĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĂƉĞŶĂƐ
das sociedades brasileiras.
EĂĨƵŶĚĂŵĞŶƚĂĕĆŽ͕ŽŵĂŐŝƐƚƌĂĚŽƌĞĐŽŶŚĞĐĞƵƋƵĞĞƌĂĨĂƚŽĞĐŽŶƀ-
ŵŝĐŽŝŶƋƵĞƐƟŽŶĄǀĞůŽǀşŶĐƵůŽĞŶƚƌĞĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐĞĂƐŶĂ-
ĐŝŽŶĂŝƐ͕ƉŽƌĠŵŝƐƐŽŶĆŽĐŽŶƐƟƚƵşĂƉŽƌƐŝƐſĞůĞŵĞŶƚŽũƵƌşĚŝĐŽŶĞĐĞƐƐĄƌŝŽ
ƉĂƌĂĂĚŵŝƐƐĆŽĚĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĂƐƉƌŝŵĞŝƌĂƐ͘/ƐƐŽƉŽƌƋƵĞĂƐƐŽ-
ĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞƌŝĂƐƉŽĚĞƌŝĂŵƐĞďĞŶĞĮĐŝĂƌĚĂďůŝŶĚĂŐĞŵůĞŐĂůŝŶĞƌĞŶƚĞ
ĂŽƉƌŽĐĞƐƐĂŵĞŶƚŽĚĂƌĞĐƵƉĞƌĂĕĆŽ͕ƐĞŵ͕ĐŽŶƚƵĚŽ͕ƐĞƌƉŽƐƐşǀĞůĂĚĞĐƌĞƚĂ-
ĕĆŽĚĂĨĂůġŶĐŝĂ͕ĐĂƐŽĚĞƐĐƵŵƉƌŝƐƐĞŵŽƉůĂŶŽĚĞƌĞĐƵƉĞƌĂĕĆŽ͘ĚĞŵĂŝƐ͕
ŽƐĐƌĞĚŽƌĞƐƉŽĚĞƌŝĂŵĮĐĂƌƐƵũĞŝƚŽƐĂĐŽŶĚŝĕƁĞƐĚĞƉĂŐĂŵĞŶƚŽĚĞŽƵƚƌŽ
ƉĂşƐ͕ĐŽŵůĞŐŝƐůĂĕĆŽĚŝǀĞƌƐĂĚĂƋƵĞůĞĞŵĐƵũŽƚĞƌƌŝƚſƌŝŽĂƐŽďƌŝŐĂĕƁĞƐĨŽ-
ƌĂŵĐŽŶƚƌĂşĚĂƐ͘
O magistrado destacou que o direito nacional não pode ser apli-
cado nem estender sua proteção a sociedades de outras nacionalidades,
sob pena de afronta à soberania dos outros Estados. Asseverou ainda que
ĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐĞƌĂŵĚŽƚĂĚĂƐĚĞƉĞƌƐŽŶĂůŝĚĂĚĞũƵƌşĚŝĐĂƉƌſ-
ƉƌŝĂ͕ Ž ƋƵĞ ŝŵƉĞĚŝĂ ƋƵĞ ĨŽƐƐĞŵ ƚƌĂƚĂĚĂƐ ĐŽŵŽ ŵĞƌŽƐ ĂƟǀŽƐ ĚĂƐ ƐŽĐŝĞ-
ĚĂĚĞƐďƌĂƐŝůĞŝƌĂƐ͘EĞƐƐĞƉŽŶƚŽ͕ĂĐĞŶƚƵŽƵƋƵĞŶĆŽƐĞĚĞǀĞĐŽŶĨƵŶĚŝƌŚĂƌ-
ŵŽŶŝǌĂĕĆŽĚĞƉƌŽĐĞƐƐŽƐĨĂůŝŵĞŶƚĂƌĞƐĚĞƐŽĐŝĞĚĂĚĞƐƋƵĞƉŽƐƐƵĞŵĂƟǀŽƐ
ůŽĐĂůŝǌĂĚŽƐ Ğŵ ĚŝĨĞƌĞŶƚĞƐ ũƵƌŝƐĚŝĕƁĞƐ͕ ŶŽƐ ŵŽůĚĞƐ ĚŽ Chapter 15 norte-
ͲĂŵĞƌŝĐĂŶŽ͕ĐŽŵũƵůŐĂŵĞŶƚŽĚĞƵŵĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĞƐŽĐŝĞĚĂĚĞƐ
ĞƐƚƌĂŶŐĞŝƌĂƐƐĞŵƋƵĞŚĂũĂƉƌĞǀŝƐĆŽůĞŐĂůŶĞƐƐĞƐĞŶƟĚŽ͘
KũƵŝǌĂĐĞŶƚƵŽƵƐĞƌĐĂďşǀĞůŽĂũƵŝǌĂŵĞŶƚŽĚŽƉĞĚŝĚŽĚĞChapter 15
na Corte Distrital de Nova Iorque após o deferimento de processamento
ĚĂƌĞĐƵƉĞƌĂĕĆŽĚĂƐƐŽĐŝĞĚĂĚĞƐďƌĂƐŝůĞŝƌĂƐ͕ƵŵĂǀĞǌƋƵĞĐŽŶƐƟƚƵşĂĨŽƌŽĚĞ
ĞůĞŝĕĆŽĚŽƐŶĞŐſĐŝŽƐũƵƌşĚŝĐŽƐƉĂĐƚƵĂĚŽƐĐŽŵŽƐĐƌĞĚŽƌĞƐĚĂƐƐŽĐŝĞĚĂĚĞƐ
ĞƐƚƌĂŶŐĞŝƌĂƐ͘ƚŽĐŽŶơŶƵŽ͕ĂŶĂůŝƐŽƵŽƐĞĨĞŝƚŽƐĚĞƐƐĞƉĞĚŝĚŽĞĂŝŵƉŽƌƚąŶ-
cia de cooperação entre as Cortes, in verbis͗
ΗƐƐĞ ƉĞĚŝĚŽ ĚĞ ŚĂƉƚĞƌ ϭϱ ĚŽ ĂŶŬƌƵƉƚǇ ŽĚĞ ƚĞƌĄ ƉŽƌ
ŽďũĞƟǀŽĐŽŶĨĞƌŝƌĞĨĞŝƚŽƐĂŽƉůĂŶŽĚĞƌĞĐƵƉĞƌĂĕĆŽĞŵƚĞƌƌŝ-
ƚſƌŝŽ ŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽ͕ Ž ƋƵĞ ƉƌŽǀĂǀĞůŵĞŶƚĞ ĞŶƐĞũĂƌĄ ƐƵĂ
ĂĚŵŝƐƐĆŽ Ğ ƌĞĐŽŶŚĞĐŝŵĞŶƚŽ ĚĂ ĂĕĆŽ ƉƌŽƉŽƐƚĂ ŶĞƐƚĞ :ƵşǌŽ
ĐŽŵŽƉƌŝŶĐŝƉĂůƉƌŽĐĞƐƐŽĚĞŝŶƐŽůǀġŶĐŝĂƉĂƌĂĮŶƐĚĂůĞŝŶŽƌƚĞ-
ͲĂŵĞƌŝĐĂŶĂĞĐŽŶĐĞƐƐĆŽĚĞĂƐƐŝƐƚġŶĐŝĂĞĐŽŽƉĞƌĂĕĆŽĚĂĐŽƌƚĞ
ŶŽƌƚĞͲĂŵĞƌŝĐĂŶĂĂŽ:ƵşǌŽĚĂZĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂů͘ƐƐĂĠĂ
ŝŶƚĞŐƌĂĕĆŽĚĞůĞŐŝƐůĂĕĆŽ͕ŚĂƌŵŽŶŝǌĂĕĆŽĚĞĐŽŽƉĞƌĂĕĆŽĞƌĞƐ-

peito da soberania que se pode pretender para salvaguar-
ĚĂƌĂƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĂƐĞŵƉƌĞƐĂƐK'yWĞƚƌſůĞŽĞ'ĄƐ
WĂƌƟĐŝƉĂĕƁĞƐ^͘͘ĞK'yWĞƚƌſůĞŽĞ'ĄƐ^͘͘ĞŽŝŶƚĞƌĞƐƐĞŶĂ
ƐŽůƵĕĆŽĚŽĂĚŝŵƉůĞŵĞŶƚŽĚŽƐĐƌĞĚŽƌĞƐƋƵĞŝŶǀĞƐƟƌĂŵƐĞƵ
ĐĂƉŝƚĂůŶĂƐĞŵƉƌĞƐĂƐK'y/ŶƚĞƌŶĂĐŝŽŶĂů'D,ĞK'yƵƐƚƌŝĂ
'D,͕ĐŽŵĂĐŽŶĐĞƐƐĆŽĞǀĞŶƚƵĂůĚĞƐƵƐƉĞŶƐĆŽĚĞĂĕƁĞƐĞ
ĞǆĞĐƵĕƁĞƐƉĂƌĂĂƉƌŽƚĞĕĆŽ ƚĞŵƉŽƌĄƌŝĂ ĚŽƐ ĂƟǀŽƐ ŶŽƐ ƐƚĂ-
ĚŽƐhŶŝĚŽƐ͕ƚƵĚŽĐŽŵŽĮŵƉƌĞĐşƉƵŽĚĞĐƌŝĂƌƵŵĂŵďŝĞŶƚĞ
ƉƌŽƉşĐŝŽĂŽƐŝŶǀĞƐƟŵĞŶƚŽƐƉĂƌĂŝŵƉůĞŵĞŶƚĂƌĂƉƌŽĚƵĕĆŽĚĞ
ƉĞƚƌſůĞŽĞŐĄƐĚĂƐĞŵƉƌĞƐĂƐĞŵĞƉşŐƌĂĨĞ͘ŽŵĞĨĞŝƚŽ͕ŽƐƐŝƐ-
ƚĞŵĂƐƌĞĐƵƉĞƌĂĐŝŽŶĂŝƐŵƵŶĚŝĂŝƐƵƟůŝǌĂŵŵŽĚĞůŽƐƋƵĞĞƐƚĞŶ-
ĚĞŵăĂƵƚŽƌŝĚĂĚĞĚĞƵŵĂĚĞĐŝƐĆŽŚĂǀŝĚĂŶƵŵƉĂşƐ͕ĂƚĂŶƚŽƐ
ŽƵƚƌŽƐ͕ŽďũĞƟǀĂŶĚŽŐĂƌĂŶƟƌĞĮĐĄĐŝĂĂŽƐƉƌŽũĞƚŽƐĚĞƌĞŽƌŐĂ-
nização empresarial que, repita-se, encontram empresas es-
ƉĂůŚĂĚĂƐƉŽƌƚŽĚŽŽŵƵŶĚŽ͘EĂŚŝƉſƚĞƐĞ͕ĂƐĞŵƉƌĞƐĂƐK'y
WĞƚƌſůĞŽĞ'ĄƐWĂƌƟĐŝƉĂĕƁĞƐ^͘͘ĞK'yWĞƚƌſůĞŽĞ'ĄƐ^͘͘
ĂďƌĂŶŐĞŵƵŵŶŝĐŚŽĚĞŵĞƌĐĂĚŽĐŽŵƉĞƐĂĚŽƐŝŶǀĞƐƟŵĞŶƚŽƐ
de credores internacionais, centenas de empregos, fornece-
dores de produtos e prestadores de serviços que desempe-
ŶŚĂŵ ŝŵƉŽƌƚĂŶƚĞ ĨƵŶĕĆŽ ŶĂ ĞĐŽŶŽŵŝĂ ƋƵĞ ƐĆŽ ĚĞ ĞŶŽƌŵĞ
ƌĞůĞǀąŶĐŝĂƉĂƌĂĂƐŽĐŝĞĚĂĚĞ͘Η 121
Irresignadas com a decisão, as sociedades em questão interpuse-

ƌĂŵŐƌĂǀŽĚĞ/ŶƐƚƌƵŵĞŶƚŽ͘ŵĚĞĐŝƐĆŽŵŽŶŽĐƌĄƟĐĂ͕ŽĚĞƐĞŵďĂƌŐĂĚŽƌ
ZĞŝŶĂůĚŽWŝŶƚŽůďĞƌƚŽ&ŝůŚŽĚĞƐƚĂĐŽƵƋƵĞĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐŶĆŽ
ƉŽƐƐƵşĂŵƋƵĂůƋƵĞƌĂƟǀŽİƐŝĐŽŽƵĮůŝĂů͕ĂŐġŶĐŝĂŽƵƐƵĐƵƌƐĂůĞŵƐŽůŽďƌĂ-
sileiro, bem como designaram para local de cumprimento das obrigações
ƉĂĐƚƵĂĚĂƐĞĂƐƐƵŵŝĚĂƐĂĐŝĚĂĚĞĚĞEŽǀĂ/ŽƌƋƵĞ͘ZĞĐŽŶŚĞĐĞƵ͕ĂĚĞŵĂŝƐ͕
a personalidade própria e autonomia patrimonial dessas sociedades. Em
razão disso, negou provimento ao recurso.
No entanto, uma terceira sociedade interessada, Acciona Infraes-
ƚƌƵƚƵƌĂ^͕ͬŝŶƚĞƌƉƀƐĚŝƐƟŶƚŽĂŐƌĂǀŽĚĞŝŶƐƚƌƵŵĞŶƚŽŶŽƐĂƵƚŽƐĚĞŽƵƚƌŽ
ƉĞĚŝĚŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂů͕ĨŽƌŵƵůĂĚŽƉŽƌŽƵƚƌĂƐƐŽĐŝĞĚĂĚĞƐĚŽŐƌƵ-
ƉŽ ĞĐŽŶƀŵŝĐŽ Ğŵ ƋƵĞƐƚĆŽ Ğ ĚŝƐƚƌŝďƵşĚŽ ƉŽƌ ĚĞƉĞŶĚġŶĐŝĂ͘ K ĂŐƌĂǀŽ ĚĞ
ŝŶƐƚƌƵŵĞŶƚŽ͕ ŶŽ ĞŶƚĂŶƚŽ͕ ĨŽŝ ůŝǀƌĞŵĞŶƚĞ ĚŝƐƚƌŝďƵşĚŽ ƉĂƌĂ ŽƵƚƌĂ ĐąŵĂƌĂ
ĐşǀĞů͕ ƋƵĞ ƉƌĞĨĞƌŝƵ ĚĞƐƉĂĐŚŽ ŝŶĂƵŐƵƌĂů ĂŶƚĞƌŝŽƌŵĞŶƚĞ ă ĚĞĐŝƐĆŽ ŵŽŶŽ-
ϭϮϭZ/K:E/ZK͘WƌŽĐĞƐƐŽŶǑ͘ϬϯϳϳϲϮϬͲϱϲ͘ϮϬϭϯ͘ϴ͘ϭϵ͘ϬϬϬϭ͕dƌŝďƵŶĂůĚĞ:ƵƐƟĕĂĚŽƐƚĂĚŽĚŽZŝŽĚĞ:ĂŶĞŝƌŽ͕ϰǐ
sĂƌĂŵƉƌĞƐĂƌŝĂů͕ĚĞĐŝƐĆŽƉƌŽĨĞƌŝĚĂƉĞůŽũƵŝǌ'ŝůďĞƌƚŽůŽǀŝƐ&ĂƌŝĂƐDĂƚŽƐĞŵϮϭ͘ϭϭ͘ϮϬϭϯ͘

ĐƌĄƟĐĂĂĐŝŵĂĂŶĂůŝƐĂĚĂ͘ĞƐƐĞŵŽĚŽ͕ĂƋƵĞůĂĐąŵĂƌĂĮĐŽƵƉƌĞǀĞŶƚĂ͕ŶŽƐ
ƚĞƌŵŽƐĚŽĂƌƚ͘ϭϬϲĚŽWͬϳϯ͕ŽƋƵĞůĞǀŽƵĂŽĐĂŶĐĞůĂŵĞŶƚŽĚĂĚĞĐŝƐĆŽ
ĂĐŝŵĂĂŶĂůŝƐĂĚĂĞƐƵďŵĞƚĞƵŽƐĂƵƚŽƐĂŶŽǀŽũƵůŐĂŵĞŶƚŽ͘
ƚŽĐŽŶơŶƵŽ͕ĂĠĐŝŵĂYƵĂƌƚĂąŵĂƌĂşǀĞůĚĞĨĞƌŝƵŽĞĨĞŝƚŽƐƵƐ-
ƉĞŶƐŝǀŽ ĂƟǀŽ ĂŽ ƌĞĐƵƌƐŽ͘ EŽ ũƵůŐĂŵĞŶƚŽ ĚĞ ŵĠƌŝƚŽ͕ Ž ƌĞůĂƚŽƌ ĚĞƐƚĂĐŽƵ
ƋƵĞŽĐĂƐŽĚĞǀĞƐĞƌĂŶĂůŝƐĂĚŽĂƉĂƌƟƌĚĂƉƌĞŵŝƐƐĂĚĞƉƌĞƐĞƌǀĂĕĆŽĚĂƐƐŽ-
ĐŝĞĚĂĚĞƐ͕ƋƵĞĐŽŶƐƟƚƵşĂŵŽŵĂŝƐĞǆƚĞŶƐŽŐƌƵƉŽĞĐŽŶƀŵŝĐŽďƌĂƐŝůĞŝƌŽǀŽů-
ƚĂĚŽăĞǆƉůŽƌĂĕĆŽĚĞƉĞƚƌſůĞŽĞŐĄƐ͕ĐŽŵŝŵƉĂĐƚŽƐŶŽĚĞƐĞŶǀŽůǀŝŵĞŶƚŽ
ĞĐŽŶƀŵŝĐŽĞƐŽĐŝĂůĚŽƌĂƐŝů͕ŐĞƌĂŶĚŽŝŶƷŵĞƌŽƐĞŵƉƌĞŐŽƐ͘ZĞĐŽŶŚĞĐĞƵ͕
ĂĚĞŵĂŝƐ͕ƋƵĞĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐĞǆĐůƵşĚĂƐŶĂĚĞĐŝƐĆŽĚĞƉƌŝŵĞŝƌĂ
instância operam apenas em função da controladora brasileira, servindo
ƚĆŽƐŽŵĞŶƚĞĚĞǀĞşĐƵůŽƉĂƌĂĞŵŝƐƐĆŽĚĞơƚƵůŽƐĚĞĚşǀŝĚĂƐĞƌĞĐĞďŝŵĞŶ-
ƚŽƐĚĞƌĞĐĞŝƚĂƐŶŽĞǆƚĞƌŝŽƌ͕ĐŽůŝŵĂŶĚŽŽĮŶĂŶĐŝĂŵĞŶƚŽĚĂƐĂƟǀŝĚĂĚĞƐĚĞ
ĞǆƉůŽƌĂĕĆŽĞƉƌŽĚƵĕĆŽĚĞƉĞƚƌſůĞŽĞŐĄƐŶŽƌĂƐŝů͘ĞƐƐĞŵŽĚŽ͕ĂƐƐŽĐŝĞ-
ĚĂĚĞƐĂƚƵĂŵĞŵƉƌŽůĚĞƵŵĂƷŶŝĐĂĞŵƉƌĞƐĂ͘
WŽƌƚĂŶƚŽ͕ Ž ƌĞůĂƚŽƌ ĞŶƚĞŶĚĞƵ ƐĞƌ ĐĂďşǀĞů ĂůďĞƌŐĂƌ ŽƐ ĐƌĞĚŽƌĞƐ ŶĂ-
ĐŝŽŶĂŝƐ Ğ ĞƐƚƌĂŶŐĞŝƌŽƐ Ğŵ Ƶŵ ƉůĂŶŽ ĐŽŵƵŵ ĚĞ ƌĞĐƵƉĞƌĂĕĆŽ ŶŽ ƌĂƐŝů͕
ĞǀŝƚĂŶĚŽͲƐĞĞǀĞŶƚƵĂůĐŽŶƐƚƌŝĕĆŽĚĞĂƟǀŽƐŶŽĞǆƚĞƌŝŽƌĞĂŝŵƉŽƐƐŝďŝůŝĚĂĚĞ
de realização de operações no âmbito internacional, o que frustraria o so-
erguimento das sociedades. Destacou, ainda, o uso da equidade quando
ĂůĞŝĨŽƌŽŵŝƐƐĂ͕ĂĮŵĚĞĂĚĞƋƵĂƌŽĚŝƌĞŝƚŽăƐŶĞĐĞƐƐŝĚĂĚĞƐĚĂƌĞĂůŝĚĂĚĞ
ĐŽŶĐƌĞƚĂ͕ŵĞĚŝĂŶƚĞƵŵĂƐŽůƵĕĆŽĚŝŶąŵŝĐĂĞĂƚƵĂůăĐŽŶƚƌŽǀĠƌƐŝĂ͘EŽĞŶ-
ƚĂŶƚŽ͕ƐƵŐĞƌŝƵƋƵĞĂůĞŐŝƐůĂĕĆŽĚĞŝŶƐŽůǀġŶĐŝĂďƌĂƐŝůĞŝƌĂĨŽƐƐĞƌĞĨŽƌŵĂĚĂ
ƉĂƌĂƚƌĂƚĂƌĚĂŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘
ŵƌĂǌĆŽĚŽĞǆƉŽƐƚŽ͕ĂĠĐŝŵĂYƵĂƌƚĂąŵĂƌĂşǀĞů͕ƉŽƌƵŶĂŶŝŵŝ-
dade, deu provimento ao agravo de instrumento e revogou a decisão in-
ƚĞƌůŽĐƵƚſƌŝĂĚĞƉƌŝŵĞŝƌĂŝŶƐƚąŶĐŝĂ͘KDŝŶŝƐƚĠƌŝŽWƷďůŝĐŽ122ŝŶƚĞƌƉƀƐƌĞĐƵƌƐŽ
Ğŵ ĐŽŶũƵŶƚŽ ĐŽŵ ƚĞƌĐĞŝƌĂ ƉĂƌƚĞ ŝƌƌĞƐŝŐŶĂĚĂ ;'ͲŽŵĞǆ ƌŵĂǌĠŶƐ 'ĞƌĂŝƐ
>ƚĚĂͿ͘KĨĞŝƚŽĨŽŝĞŶĐĂŵŝŶŚĂĚŽƉĂƌĂŽ^d:ĞĞŶĐŽŶƚƌĂͲƐĞĐŽŶĐůƵƐŽĂŽDŝ-
ŶŝƐƚƌŽZĂƵůƌĂƷũŽ͘ZĞƐƚĂƚĆŽƐŽŵĞŶƚĞĂŐƵĂƌĚĂƌĞǀĞŶƚƵĂůƉŽƐŝĐŝŽŶĂŵĞŶƚŽ
ŵĞƌŝƚſƌŝŽĚĂŽƌƚĞƌĞƐƉŽŶƐĄǀĞůƉŽƌƌĞƐŐƵĂƌĚĂƌĂƐŶŽƌŵĂƐŝŶĨƌĂĐŽŶƐƟƚƵ-
ĐŝŽŶĂŝƐ͕ƐĞĂƌĂĞŵƋƵĞĞƐƚĄƌĞŐŝĚŽŽƚĞŵĂŽƌĂĂŶĂůŝƐĂĚŽ͘
122 Saliente-se que esse órgão veio se posicionando a favor do territorialismo desde a primeira instância. Na visão
ĚĂWƌŽĐƵƌĂĚŽƌŝĂĚĞ:ƵƐƟĕĂ͕͞ŽĨĂƚŽĚĞĂůĞŝďƌĂƐŝůĞŝƌĂĞƐƚĂƌĚĞĨĂƐĂĚĂĞŶĆŽĂĐŽŵƉĂŶŚĂƌŽƐĂǀĂŶĕŽƐĚĂŐůŽďĂůŝǌĂĕĆŽ
ŶĆŽƉŽĚĞƌŝĂƐĞƌǀŝƌĐŽŵŽũƵƐƟĮĐĂƟǀĂƉĂƌĂĂƐƵĂŶĆŽĂƉůŝĐĂĕĆŽ͘ƐƐŝŵ͕ĐŽŶĨŽƌŵĞĂŝŶƚĞƌƉƌĞƚĂĕĆŽĐŽŶĨĞƌŝĚĂƉĞůĂWƌŽ-
ĐƵƌĂĚŽƌŝĂĂŽĂƌƚ͘ϯǑĚĂ>Ğŝϭϭ͘ϭϬϭĚĞϮϬϬϱ͕ŽũƵŝǌďƌĂƐŝůĞŝƌŽƚĞƌŝĂũƵƌŝƐĚŝĕĆŽƐŽďƌĞĂƐƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐƐŽŵĞŶƚĞ
ƐĞĞůĂƐƟǀĞƐƐĞŵĮůŝĂůŽƵĞƐƚĂďĞůĞĐŝŵĞŶƚŽŶŽƌĂƐŝůʹŽƋƵĞŶĆŽĞƌĂ͕ĐŽŶƚƵĚŽ͕ŽĐĂƐŽĚĂƐK'yĂƵƐƚƌşĂĐĂƐ͘͟;DWE
&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗKĐĂƐŽK'yĞĂƋƵĞƐƚĆŽĚŽĂũƵŝǌĂŵĞŶƚŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĞƐŽĐŝĞĚĂĚĞƐĞƐƚƌĂŶŐĞŝƌĂƐ
ŶŽƌĂƐŝůΗ͘Revista Comercialista͕Ɖ͘ϮϴͲϯϭ͘^ĆŽWĂƵůŽ͗ϭϳĚĞŵĂŝŽĚĞϮϬϭϱ͕Ɖ͘ϯϬͿ

8. CONCLUSÃO
KƌĂƐŝůĂƚƵĂůŵĞŶƚĞĞŶĨƌĞŶƚĂƉƌŽĨƵŶĚŽƋƵĂĚƌŽĚĞĞƐĐĂƐƐĞǌŶŽƌŵĂ-
ƟǀĂƉĂƌĂůŝĚĂƌĐŽŵƐŝƚƵĂĕƁĞƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ĞƐƉĞĐŝĂůŵĞŶƚĞ
ĞŵƌĞůĂĕĆŽĂŽƐŐƌƵƉŽƐƐŽĐŝĞƚĄƌŝŽƐŵƵůƟŶĂĐŝŽŶĂŝƐ͘EĞƐƚĞƚƌĂďĂůŚŽĨŽƌĂŵ
ĂƉƌĞƐĞŶƚĂĚŽƐĞĞǆĂŵŝŶĂĚŽƐŽƐƐŝƐƚĞŵĂƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂůŵĂŝƐ
ŝŶŇƵĞŶƚĞƐŶŽƐĚĞďĂƚĞƐĂĐĂĚġŵŝĐŽƐƐŽďƌĞĂŵĂƚĠƌŝĂ͘WĞƌĐĞďĞƵͲƐĞŽŝŶƚƵŝƚŽ
de cada teórico em selecionar os louros do sistema que defende, descartan-
ĚŽͲƐĞŽƐĚĞĨĞŝƚŽƐĞĂƚĞŶƚĂŶĚŽͲƐĞăƐƌĞĂŝƐĚĞŵĂŶĚĂƐĞƌĞƐŝƐƚġŶĐŝĂƐĚŽƐƐ-
ƚĂĚŽƐƐŽďĞƌĂŶŽƐ͘ĞĮĐŝġŶĐŝĂĚĞĐĂĚĂƐŝƐƚĞŵĂĂĚŽƚĂĚŽƉĞůŽŽƌĚĞŶĂŵĞŶƚŽ
ĚĞĐĂĚĂƐƚĂĚŽĞƐƚĄĂƐƐŽĐŝĂĚĂăĮǆĂĕĆŽĚĞƉƌŝŽƌŝĚĂĚĞƐƐŽďƌĞŽƐŝŶƚĞƌĞƐƐĞƐ
ĂƐĞƌĞŵƉĞƌƐĞŐƵŝĚŽƐŶŽƐƉƌŽĐĞƐƐŽƐĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͕ƚĂŝƐĐŽŵŽ
Ă ƐĂƟƐĨĂĕĆŽ ĚŽƐ ĐƌĞĚŽƌĞƐ͕ ƉƌŽƚĞĕĆŽ ĚŽ ĚĞǀĞĚŽƌ ŽƵ ƉƌĞƐĞƌǀĂĕĆŽ ĚŽƐ Ğŵ-
pregos.^ĞĂĞƐĐŽůŚĂƉŽƌƵŵĚĞƚĞƌŵŝŶĂĚŽƐŝƐƚĞŵĂĚĞŝŶƐŽůǀġŶĐŝĂƐĞŵŽƐƚƌĂ
ĚŝĮĐƵůƚŽƐĂ͕ĞŵƌĂǌĆŽĚĂĐŽŵƉůĞǆŝĚĂĚĞĚĂƐƋƵĞƐƚƁĞƐĞŶǀŽůǀŝĚĂƐ͕ĐĞƌƚŽĠƋƵĞ
o direito brasileiro não pode mais permanecer ĂůŚĞŝŽĞŝŶĞƌƚĞĂŽƚĞŵĂ͘
WƌŽǀĂĚŽĂĮƌŵĂĚŽƐƵƉƌĂĠŽƉƌŽĐĞƐƐŽĚĞƌĞĐƵƉĞƌĂĕĆŽũƵĚŝĐŝĂůĚĂ
K'y͘EĞůĞ͕ĂϭϰǐąŵĂƌĂşǀĞůĚŽdƌŝďƵŶĂůĚĞ:ƵƐƟĕĂĚŽƐƚĂĚŽĚŽZŝŽĚĞ
:ĂŶĞŝƌŽĨĞǌƉƌĞǀĂůĞĐĞƌƵŵĞŶƚĞŶĚŝŵĞŶƚŽĞŵƉƌŽůĚĂĂŶĄůŝƐĞĞĐŽŶƀŵŝĐĂĚŽ
ĚŝƌĞŝƚŽ͕ĐŽŵĨƵůĐƌŽŶŽĐůĄƐƐŝĐŽƉƌŝŶĐşƉŝŽĚĂƉƌĞƐĞƌǀĂĕĆŽͬƐŽĞƌŐƵŝŵĞŶƚŽĚĂ
ĂƟǀŝĚĂĚĞĞŵƉƌĞƐĄƌŝĂ;Ăƌƚ͘ϰϳĚĂ>ĞŝŶǑϭϭ͘ϭϬϭͬϬϱͿ͕ĞŵĚĞƚƌŝŵĞŶƚŽĚĞƵŵĂ
ĂŶĄůŝƐĞŵĂŝƐƚĠĐŶŝĐĂĚŽƐŝŶƐƵĮĐŝĞŶƚĞƐĚŝƐƉŽƐŝƟǀŽƐƋƵĞǀĞƌƐĂŵƐŽďƌĞĂŵĂ-
ƚĠƌŝĂ͕ƚĞŶĚŽĚĞƐĐŽŶƐŝĚĞƌĂĚŽĂĂƵƚŽŶŽŵŝĂĚĂƐƐƵďƐŝĚŝĄƌŝĂƐĞƐƚƌĂŶŐĞŝƌĂƐĞŵ
relação à sociedade-mãe brasileira.
ĚĞĐŝƐĆŽ ŶĆŽ ŵĞƌĞĐĞ ĐƌşƟĐĂƐ ŶĞŵ ĞůŽŐŝŽƐ͘ EĆŽ ƐĞ ƉŽĚĞ ĐƌŝƟĐĄ-
ͲůĂ͕ĂĮŶĂůďƵƐĐŽƵĂůŝŶŚĂƌŽƉĂşƐĂƵŵĞŶƚĞŶĚŝŵĞŶƚŽŵĂŝƐĂƚƵĂůŝǌĂĚŽƐŽ-
ďƌĞĂŵĂƚĠƌŝĂ͕ƉŽƌĠŵ͕ƉŽƌŽƵƚƌŽůĂĚŽ͕ƌĞĂůŝǌŽƵƚĂůŝŶƚĞŶƚŽƐĞŵƵŵĂďĂƐĞ
ŶŽƌŵĂƟǀĂƉŽƐŝƟǀĂĚĂƉĂƌĂƚĂŶƚŽ͕ŐĞƌĂŶĚŽĂĨƌŽŶƚĂĂŽƐƌĞƋƵŝƐŝƚŽƐƚĠĐŶŝĐŽƐ
ĚŽĚŝƌĞŝƚŽ͕ďĞŵĐŽŵŽŝŶƐĞŐƵƌĂŶĕĂũƵƌşĚŝĐĂƉĂƌĂƉĂƌƚĞƐƋƵĞǀĞŶŚĂŵĂƐĞ
ĚĞƉĂƌĂƌĐŽŵƐŝƚƵĂĕƁĞƐƐĞŵĞůŚĂŶƚĞƐŶŽĨƵƚƵƌŽ͘ĚŽƵƚƌŝŶĂĞƐƉĞĐŝĂůŝǌĂĚĂ
ĂƉŽŶƚĂƋƵĞĂƐŽůƵĕĆŽĐŽƌƌĞƚĂƐĞƌŝĂŽĂĚĞƋƵĂĚŽƚƌąŵŝƚĞůĞŐŝƐůĂƟǀŽŶŽŽŶ-
gresso Nacional de diploma legal que adotasse o sistema do universalismo
ŵŽĚŝĮĐĂĚŽ123.
ϭϮϯ͞ŶŽƐƐĂĐŽŶĐůƵƐĆŽĨŽŝĚĞƋƵĞŽƌĂƐŝůĚĞǀĞƌŝĂĂĚŽƚĂƌƵŵƐŝƐƚĞŵĂũƵƌşĚŝĐŽďĂƐĞĂĚŽŶŽŵŽĚĞůŽĚŽƵŶŝǀĞƌƐĂůŝƐŵŽ
ŵŽĚŝĮĐĂĚŽ͕ĐŽŵĂĂĚĂƉƚĂĕĆŽĚĂƐĚŝƐƉŽƐŝĕƁĞƐĚĂůĞŝŵŽĚĞůŽĚĂhE/dZ>͕ƋƵĂŶĚŽƉĂƐƐşǀĞŝƐĚĞĂƉůŝĐĂĕĆŽ͕ƉĂƌĂƚƌĂƚĂƌ
ĚĂƌĞĐƵƉĞƌĂĕĆŽĚŽƐŐƌƵƉŽƐŵƵůƟŶĂĐŝŽŶĂŝƐ͘ƐĚŝƐƉŽƐŝĕƁĞƐƐĞƌŝĂŵŇĞǆşǀĞŝƐŽƐƵĮĐŝĞŶƚĞƉĂƌĂĂĚŵŝƟƌƋƵĞĂƌĞƐƚƌƵƚƵƌĂ-
ĕĆŽĚŽƐŐƌƵƉŽƐƉƵĚĞƐƐĞƐĞƌĐŽŶƐĞŐƵŝĚĂƚĂŶƚŽƉŽƌŵĞŝŽĚĞƵŵƷŶŝĐŽƉƌŽĐĞƐƐŽ͕ĚĞĂďƌĂŶŐġŶĐŝĂĞǆƚƌĂƚĞƌƌŝƚŽƌŝĂů͕ĐŽŵŽ
por uma diversidade de processos concorrentes e coordenados entre si. Dessa forma, defendemos que o sistema
ďƌĂƐŝůĞŝƌŽĚĞǀĞƌŝĂƉĞƌŵŝƟƌĂĂďĞƌƚƵƌĂĚĞƉƌŽĐĞƐƐŽƐĚĞƌĞĐƵƉĞƌĂĕĆŽĚĞƚŽĚŽŽŐƌƵƉŽ͕ĚĞƐĚĞƋƵĞŽƐĞƵƌĞƐƉĞĐƟǀŽ

K ŽďũĞƟǀŽ ĚŽ ƉƌĞƐĞŶƚĞ ĞƐƚƵĚŽ Ġ Ž ĚĞ ƐĞƌǀŝƌ ĐŽŵŽ ĐĞŶƚĞůŚĂ ƉĂƌĂ
ĨƵƚƵƌŽƐĚĞďĂƚĞƐĂĐĂĚġŵŝĐŽƐĂƉƌŽĨƵŶĚĂĚŽƐƐŽďƌĞĂƚĞŵĄƟĐĂ͕ŝŶĐĞŶƟǀĂŶ-
do e promovendo a atualização do direito falimentar brasileiro. Só assim
ŽƉĂşƐĐŽŶƐĞŐƵŝƌĄƉŽƌĮŵăƐŝŶƐĞŐƵƌĂŶĕĂƐũƵƌşĚŝĐĂƐƋƵĞƉĂŝƌĂŵƐŽďƌĞĞůĞ͕
ƉŽƐŝĐŝŽŶĂŶĚŽͲƐĞŶŽǀĂŵĞŶƚĞăĂůƚƵƌĂĚĂƐĞǆŝŐġŶĐŝĂƐĚŽŚŽĚŝĞƌŶŽŵĞƌĐĂĚŽ
ŐůŽďĂůŝǌĂĚŽ͘EĆŽĐƵƐƚĂƌĞĐŽƌĚĂƌƋƵĞŽƉĂşƐ͕ŽƵƚƌŽƌĂ͕ũĄĨŽƌĂĚĞƐƚĂƋƵĞĞŵ
ŵĂƚĠƌŝĂĚĞŝŶƐŽůǀġŶĐŝĂƚƌĂŶƐŶĂĐŝŽŶĂů͘Y
9. REFERÊNCIAS
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Professor LoPucki. WĞŶŶ^ƚĂƚĞ>ĂǁĞ>ŝďƌĂƌǇ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬĞůŝďƌĂ-
ƌǇ͘ůĂǁ͘ƉƐƵ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϭϭϲϮΘĐŽŶƚĞǆƚсĨĂĐͺǁŽƌŬƐх͘
Acesso em 04.05.2016.
hZDE͕ ,ĂƌŽůĚ ^͘ ,ĂƌŵŽŶŝǌĂƟŽŶ ŽĨ /ŶƚĞƌŶĂƟŽŶĂů ĂŶŬƌƵƉƚĐǇ
>Ăǁ͗hŶŝƚĞĚ^ƚĂƚĞƐWĞƌƐƉĞĐƟǀĞ. &ŽƌĚŚĂŵ>ĂǁZĞǀŝĞǁ, v. 64, Issue 6, Ar-
ƟĐůĞϰ͕ϭϵϵϲ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬŝƌ͘ůĂǁŶĞƚ͘ĨŽƌĚŚĂŵ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶ-
ƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϯϮϳϴΘĐŽŶƚĞǆƚсŇƌх. Acesso em 03.05.2016.
h^dDEdz^/ZsE͕ŶƚŽŶŝŽ^ĂŶĐŚĞǌĚĞ͘Derecho Internacio-
nal Privado. ϮĞĚ͘ŶǑϭϴϴϳ͕ϭϵϯϰ͘
ͺͺͺͺͺ͘Manual de Derecho Internacional Privado. No. 263, 1939.
ͺͺͺͺͺ͘ Tratado de Derecho Internacional Privado͘ dŽŵŽ /͗ EŽ-
ĐŝŽŶĞƐ WƌĞůŝŵŝŶĂƌĞƐ͘ ,ŝƐƚŽƌŝĂ ĚĞů ĞƌĞĐŚŽ WŽƐŝƟǀŽ͘ ,ŝƐƚŽƌŝĂ ĚĞů Ğ-
ƌĞĐŚŽ ŝĞŶơĮĐŽ͘ ,ĂďĂŶĂ͗ /ŵƉƌĞŶƚĂ Ǉ WĂƉĞůĞƌŝĂ ͞>Ă hŶŝǀĞƌƐĂů͟ ĚĞ
ZƵŝǌ Ǉ DĞƌŵĂŶŽ͕ ϭϴϵϲ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉƐ͗ͬͬĂƌĐŚŝǀĞ͘ŽƌŐͬƐƚƌĞ-
ĂŵͬƚƌĂƚĂĚŽĚĞĚĞƌĞĐŚϬϬƐŝƌǀŐŽŽŐηƉĂŐĞͬŶϵͬŵŽĚĞͬϮƵƉх͘ Acesso em
03.05.2016.
DWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵ-
ƉŽƐ^ŽĐŝĞƚĄƌŝŽƐDƵůƟŶĂĐŝŽŶĂŝƐ͗ŽŶƚƌŝďƵŝĕƁĞƐƉĂƌĂŽĞƐĞŶǀŽůǀŝŵĞŶƚŽĚĞ
Ƶŵ^ŝƐƚĞŵĂ:ƵƌşĚŝĐŽƌĂƐŝůĞŝƌŽĂWĂƌƟƌĚŽŝƌĞŝƚŽŽŵƉĂƌĂĚŽΗʹdĞƐĞĚĞ
ŽƵƚŽƌĂĚŽĞŵŝƌĞŝƚŽ͘^ĆŽWĂƵůŽ͗hŶŝǀĞƌƐŝĚĂĚĞĚĞ^ĆŽWĂƵůŽ͕ϮϬϭϯ͘
ͺͺͺͺͺ͘O caso OGX e a questão do ajuizamento de recuperação
judicial de sociedades estrangeiras no Brasil. Revista Comercialista, p. 28-
ϯϭ͘^ĆŽWĂƵůŽ͗ϭϳĚĞŵĂŝŽĚĞϮϬϭϱ͘
centro de interesses principais se encontrasse em território nacional. As sociedades agrupadas deveriam ser tra-
ƚĂĚĂƐĐŽŵŽĞŶƟĚĂĚĞƐĚŽƚĂĚĂƐĚĞƉĂƚƌŝŵƀŶŝŽƐĂƵƚƀŶŽŵŽƐ͕ĞǆĐĞƚŽŶŽƐĐĂƐŽƐĞŵƋƵĞŚŽƵǀĞƐƐĞĂĚĞƐĐŽŶƐŝĚĞƌĂĕĆŽ
ĚĞƐƵĂƐƉĞƌƐŽŶĂůŝĚĂĚĞƐũƵƌşĚŝĐĂƐ͘͟DWE&/>,K͕WĂƵůŽ&ĞƌŶĂŶĚŽ͘ΗƌĞĐƵƉĞƌĂĕĆŽ:ƵĚŝĐŝĂůĚĞ'ƌƵƉŽƐ^ŽĐŝĞƚĄƌŝŽƐ
DƵůƟŶĂĐŝŽŶĂŝƐ͘͘͘Η͕Ɖ͘ϮϭϬ͘

DW/E,K͕^ĠƌŐŝŽ͘Falência e Recuperação de Empresa: O Novo
Regime de Insolvência Empresarial͘ϰǐĞĚ͘ƌĞǀ͘ĞĂƚƵĂůŝǌ͘ZĞŶŽǀĂƌ͗ZŝŽĚĞ
Janeiro, 2009.
K>/E'Z͕ :ĂĐŽď͘ Direito Internacional privado: parte geral. 11.
ĞĚ͘ƌĞǀ͕͘ĂƚƵĂůŝǌ͘ĞĂŵƉůŝĂĚĂ͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗&ŽƌĞŶƐĞ͕ϮϬϭϰ͘
&>d,Z͕ /ĂŶ &͘ ƌŽƐƐͲŽƌĚĞƌ /ŶƐŽůǀĞŶĐǇ͗ ŽŵƉĂƌĂƟǀĞ ŝŵĞŶ-
sions. dŚĞďĞƌǇƐƚǁǇƚŚWĂƉĞƌƐ͕ǀŽů͘ ϭϮŽĨhŶŝƚĞĚ<ŝŶŐĚŽŵŽŵƉĂƌĂƟǀĞ
>Ăǁ^ĞƌŝĞƐ͘h<EĂƟŽŶĂůŽŵŵŝƩĞĞŽĨŽŵƉĂƌĂƟǀĞ>Ăǁ͗ϭϵϬϬ͘
ͺͺͺͺͺ͘/ŶƐŽůǀĞŶĐǇŝŶWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ͗EĂƟŽŶĂůĂŶĚ/ŶƚĞƌ-
ŶĂƟŽŶĂůƉƉƌŽĂĐŚĞƐ. KǆĨŽƌĚWƌŝǀĂƚĞ/ŶƚĞƌŶĂƟŽŶĂů>ĂǁSeries. 2 ed. 2005.
'>E͕ ZŽďĞƌƚ sĂŶ͘ ΗdŚĞ ƵƌŽƉĞĂŶ /ŶƐŽůǀĞŶĐǇ ZĞŐƵůĂƟŽŶ ĂŶĚ
'ƌŽƵƉƐŽĨŽŵƉĂŶŝĞƐ͘Η DĂŶƵƐĐƌŝƚŽŶĆŽƉƵďůŝĐĂĚŽ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬ
ǁǁǁ͘ŝŝŝŐůŽďĂů͘ŽƌŐͬĐŽƵŶƚƌǇͬĞƵƌŽƉĞĂŶͺƵŶŝŽŶ͘Śƚŵůх͘
'ZZ/K͕ :ŽƐĠ D͘ EŽ dǁŽ ^ŶŽǁŇĂŬĞƐ ƚŚĞ ^ĂŵĞ͗ dŚĞ ŝƐƚƌŝďƵ-
ƟŽŶĂů YƵĞƐƟŽŶ ŝŶ /ŶƚĞƌŶĂƟŽŶĂů ĂŶŬƌƵƉƚĐŝĞƐ. dĞǆĂƐ /ŶƚĞƌŶĂƟŽŶĂů >Ăǁ
Journal, V. 46, 459, 2011.
'hDE͕ ŶĚƌĞǁ d͘ /ŶƚĞƌŶĂƟŽŶĂů ĂŶŬƌƵƉƚĐǇ͗ /Ŷ ĞĨĞŶ-
se of Universalism. ĞƌŬĞůĞǇ >Ăǁ ^ĐŚŽůĂƌƐŚŝƉ ZĞƉŽƐŝƚŽƌǇ͘ ŝƐƉŽŶş-
ǀĞů Ğŵ͗ фŚƩƉ͗ͬͬƐĐŚŽůĂƌƐŚŝƉ͘ůĂǁ͘ďĞƌŬĞůĞǇ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍Ăƌ-
ƟĐůĞсϮϳϱϴΘĐŽŶƚĞǆƚсĨĂĐƉƵďх. Acesso em 16.05.2016.
:<^KE͕dŚŽŵĂƐ,͘The Logic and Limits of Bankruptcy Law: Im-
ƉůŝĐĂƟŽŶƐŽĨŽůůĞĐƟǀĞĐƟŽŶĂŶĚŝƐĐŚĂƌŐĞWŽůŝĐŝĞƐ. Discussion Paper
ŶǑ͘ ϭϲ͕ ϭϮͬϴϱ͕ ,ĂƌǀĂƌĚ >Ăǁ ^ĐŚŽŽů͕ ϭϵϴϲ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬǁǁǁ͘
ůĂǁ͘ŚĂƌǀĂƌĚ͘ĞĚƵͬƉƌŽŐƌĂŵƐͬŽůŝŶͺĐĞŶƚĞƌͬƉĂƉĞƌƐͬƉĚĨͬ:ĂĐŬƐŽŶͺϭϲ͘ƉĚĨх.
Acesso em 03.05.2016.
:/dd͕͘:ŽƐĞƉŚƵƐ͘>ĂŽĚŝĮĐĂƟŽŶĚƵƌŽŝƚ/ŶƚĞƌŶĂƟŽŶĂůĚĞůĂ&Ăŝů-
lite. Le Haye͗ĞůĞĨĂŶƚĞ&ƌğƌĞƐ͕ϭϴϵϱ͘
</WE/^͕ ůĞǆĂŶĚĞƌ D͘ ĞǇŽŶĚ hE/dZ>͗ ůƚĞƌŶĂƟǀĞƐ ƚŽ hŶŝ-
ǀĞƌƐĂůŝƚǇ ŝŶ dƌĂŶƐŶĂƟŽŶĂů /ŶƐŽůǀĞŶĐǇ. ĞŶǀĞƌ :ŽƵƌŶĂů ŽĨ /ŶƚĞƌŶĂƟŽŶĂů
>Ăǁ ĂŶĚ WŽůŝĐǇ͕ ǀ͘ ϯϲ͕ ϭϱϲ ;ϮϬϬϲͿ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂď-
ƐƚƌĂĐƚсϵϭϯϴϰϰх. Acesso em 13.03.2016.
LACERDA, JozĠ Candido Sampaio de. Manual de Direito Falimentar.
ϭϰ͘ĞĚ͘ƌĞǀ͘ĞĂƚƵĂů͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗&ƌĞŝƚĂƐĂƐƚŽƐ͕ϭϵϵϵ͘

>KK͕:ŽƌŐĞ͘ŽŵĞŶƚĄƌŝŽĂŽĂƌƟŐŽϰϳ. In͗dK>K͕WĂƵůŽ&ĞƌŶĂŶĚŽ
&͘͘^ĂůůĞƐĚĞ͖ZK͕ĂƌůŽƐ,ĞŶƌŝƋƵĞ;ŽŽƌĚͿ͘Comentários à lei de re-
cuperação de Empresas e Falência. 5. ed. ^ĂƌĂŝǀĂ͗^ĆŽWĂƵůŽ͕ϮϬϭϮ͘
>Kd>>/͕&ĞƌŶĂŶĚŽ͘ /ŶƚĞƌŶĂƟŽŶĂůdƌĂĚĞĂŶĚ/ŶƐŽůǀĞŶĐǇ>Ăǁ͗/Ɛ
the UNCITRAL Model Law on Cross-Border Insolvency an Answer for Bra-
ǌŝů͍;ŶĐŽŶŽŵŝĐŶĂůǇƐŝƐŽĨ/ƚƐĞŶĞĮƚƐŽŶ/ŶƚĞƌŶĂƟŽŶĂůdƌĂĚĞͿ. >Ăǁ
ĂŶĚƵƐŝŶĞƐƐZĞǀŝĞǁŽĨƚŚĞŵĞƌŝĐĂƐ, ǀ͘ϭϰ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬǁŽƌŬƐ͘
ďĞƉƌĞƐƐ͘ĐŽŵͬĨĞƌŶĂŶĚŽůŽĐĂƚĞůůŝͬϭͬх. Acesso em 21.03.2016.
>KWh</͕>ǇŶŶD͕͘ŽŽƉĞƌĂƟŽŶŝŶ/ŶƚĞƌŶĂƟŽŶĂůĂŶŬƌƵƉƚĐǇ͗WŽƐƚͲ
Universalist Approach. ŽƌŶĞůů>ĂǁZĞǀŝĞǁ͕ǀ͘ϴϰ͕ϲϵϲ͕ϳϬϭ;ϭϵϵϵͿ͘ŝƐƉŽŶş-
ǀĞůĞŵ͗фŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐƚƌĂĐƚсϭϯϮϰϬϴх. Acesso em 14.03.2016.
ͺͺͺͺͺ͘'ůŽďĂůĂŶĚKƵƚŽĨŽŶƚƌŽů͍. ŵĞƌŝĐĂŶĂŶŬƌƵƉƚĐǇ>Ăǁ:ŽƵƌ-
nal͘s͘ϳϵ;:ƵŶŚŽ͕ϮϬϬϱͿ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂ-
ƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐͺŝĚсϲϵϯϲϬϭх. Acesso em 16.05.2016.
ͺͺͺͺͺ͘Universalism Unravels. ŵĞƌŝĐĂŶĂŶŬƌƵƉƚĐǇ>Ăǁ:ŽƵƌŶĂů,
ũƵŶŚŽ ĚĞ ϮϬϬϱ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉ͗ͬͬƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘
ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϳϯϮϭϮϯх. Acesso em 17.05.2016.
D^>/E͕ :ĞĂŶͲWŚŝůŝƉƉĞ͘ dŚĞ īĞĐƟǀĞŶĞƐƐ ŽĨ ƵƌŽƉĞĂŶ ƌŽƐƐͲŽƌ-
ĚĞƌ/ŶƐŽůǀĞŶĐǇZĞŐƵůĂƟŽŶĂƐĂdŽŽůŐĂŝŶƐƚ&ŽƌƵŵͲ^ŚŽƉƉŝŶŐ͘;ϮϬϬϵͿ͘ŝƐ-
ƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬĂďƐƚƌĂĐƚсϭϱϯϵϯϵϭх. Acesso em 17.05.2016.
E>DEE͕<Ƶƌƚ͘,͘&ŽƌĞŝŐŶĂŶĚŽŵĞƐƟĐƌĞĚŝƚŽƌƐŝŶĂŶŬƌƵƉƚĐǇ
WƌŽĐĞĞĚŝŶŐƐ͘ZĞŵŶĂŶƚƐŽĨŝƐĐƌŝŵŝŶĂƟŽŶ͍Ɖƌŝů͕ϭϵϰϯ͘ŝƐƉŽŶşǀĞůĞŵфŚƩƉ͗ͬͬ
ƐĐŚŽůĂƌƐŚŝƉ͘ůĂǁ͘ƵƉĞŶŶ͘ĞĚƵͬĐŐŝͬǀŝĞǁĐŽŶƚĞŶƚ͘ĐŐŝ͍ĂƌƟĐůĞсϵϯϭϰΘĐŽŶƚĞǆƚсƉĞŶŶͺ
ůĂǁͺƌĞǀŝĞǁх͘ Acesso em 02.05.2016.
Z,^d/EZ͕ĞĂƚtĂůƚĞƌ͘Direito internacional privado: teoria e
ƉƌĄƟĐĂ͘ϭϱ͘ĞĚ͕͘ƌĞǀ͘ĞĂƚƵĂůŝǌ͘^ĆŽWĂƵůŽ͗^ĂƌĂŝǀĂ͕ϮϬϭϮ͘
^s/'Ez͕ &ƌŝĞĚĞƌŝĐŚ Ăƌů ǀŽŶ͘ Sistema de Direito Romano Atual.
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^dZE'Z͕/ƌŝŶĞƵ͘Direito Internacional Privado͘ϲ͘Ě͘^ĆŽWĂƵůŽ͗
LTr, 2005.
d/URCIO, Carmen. Efeitos extraterritoriais da falência. Revista de
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d/hZ/K͕ĂƌŵĞŵ͖ZZK^K͕>ƵşƐZŽďĞƌƚŽ͘ŝƌĞŝƚŽĐŽŶƐƟƚƵĐŝŽŶĂů
internacional͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗ZĞŶŽǀĂƌ͕ϮϬϭϯ͘

dhE'͕ &ƌĞĚĞƌŝĐŬ͘ ^ŬĞƉƟĐŝƐŵ ďŽƵƚ hŶŝǀĞƌƐĂůŝƐŵ͗ /ŶƚĞƌŶĂƟŽŶĂů
ĂŶŬƌƵƉƚĐǇĂŶĚ/ŶƚĞƌŶĂƟŽŶĂůZĞůĂƟŽŶƐ. hĞƌŬĞůĞǇ>ĂǁĂŶĚĐŽŶŽŵŝĐƐ
Working Paper ŶǑϮϬϬϭͲϳ͕ĂďƌŝůĚĞϮϬϬϭ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƩƉ͗ͬͬƐƐƌŶ͘ĐŽŵͬ
ĂďƐƚƌĂĐƚсϮϲϳϰϯϳх͘ĐĞƐƐŽĞŵϭϰ͘Ϭϯ͘ϮϬϭϲ͘
Z^Dh^Ê͕ ZŽďĞƌƚ <͘ EĞǁ ƉƉƌŽĂĐŚ ƚŽ dƌĂŶƐŶĂƟŽŶĂů /ŶƐŽů-
vencies. 19 DŝĐŚŝŐĂŶ :ŽƵƌŶĂů ŽĨ /ŶƚĞƌŶĂƟŽŶĂů >Ăǁ͕ ǀ͘ ϭϵ͗ϭ͕ ϭϵϵϳͲϭϵϵϴ͘
ŝƐƉŽŶşǀĞů Ğŵ͗ ф ŚƩƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘
ũŽƵƌŶĂůƐͬŵũŝůϭϵΘĚŝǀсϴΘŝĚсΘƉĂŐĞсх. Acesso em 16.05.2016.
ͺͺͺͺͺ͘ Debtor’s Choice: A Menu Approach to Corporate Bank-
ruptcy. 71 dĞǆĂƐ >Ăǁ ZĞǀŝĞǁ͕ ϳϭ͗ϱϭ͕ ϭϵϵϮͲϭϵϵϯ͘ ŝƐƉŽŶşǀĞů Ğŵ͗
фŚƚƚƉ͗ͬͬŚĞŝŶŽŶůŝŶĞ͘ŽƌŐͬ,K>ͬ>ĂŶĚŝŶŐWĂŐĞ͍ŚĂŶĚůĞсŚĞŝŶ͘ũŽƵƌŶĂůƐͬ
ƚůƌϳϭΘĚŝǀсϵΘŝĚсΘƉĂŐĞсх. Acesso em 16.05.2016.
ͺͺͺͺͺ͘ Resolving Transnational Insolvencies Through Private
Ordering. DŝĐŚŝŐĂŶ>ĂǁZĞǀŝĞǁ͕ǀ͘ϵϴ;ϮϬϬϬͿ͘ŝƐƉŽŶşǀĞůĞŵ͗фŚƚƚƉ͗ͬͬ
ƉĂƉĞƌƐ͘ƐƐƌŶ͘ĐŽŵͬƐŽůϯͬƉĂƉĞƌƐ͘ĐĨŵ͍ĂďƐƚƌĂĐƚͺŝĚсϮϱϲϰϳϯх. Acesso em
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ƚſƌŝĐĂ Ğ ĐŽŵƉĂƌĂƟǀĂ͕ ƉŽƐŝƟǀĂ Ğ ĚŽƵƚƌŝŶĄƌŝĂ͕ ĞƐƉĞĐŝĂůŵĞŶƚĞ ĚŽƐ ƐƚĂ-
dos americanos. V. III, Parte especial ;ĮŵͿ͖ ŽŶŇŝƚŽƐ ĚĞ ůĞŝƐ ĐŽŵĞƌĐŝĂŝƐ͕
ĐĂŵďŝĂŝƐ͕ĨĂůŝŵĞŶƚĂƌĞƐ͕ŵĂƌşƟŵĂƐ͕ĂĞƌŽĞƐƉĂĐŝĂŝƐ͕ŝŶĚƵƐƚƌŝĂŝƐ͕ƚƌĂďĂůŚŝƐƚĂƐ͕
ƉƌŽĐĞƐƐƵĂŝƐ͕ƉĞŶĂŝƐ͕ĂĚŵŝŶŝƐƚƌĂƟǀĂƐ͕ĮƐĐĂŝƐĞĞĐůĞƐŝĄƐƟĐĂƐ͘ZŝŽĚĞ:ĂŶĞŝƌŽ͗
&ƌĞŝƚĂƐĂƐƚŽƐ͕ϭϵϳϴ͘
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pean Business. CESifo DICE Report͕ ǀ͘ ϰ͘ ŝƐƉŽŶşǀĞů Ğŵ͗ фŚƩƉƐ͗ͬͬǁǁǁ͘
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ϳх͘ Acesso em 19.05.2016.
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Of Law And Choice Of Forum. 65 Am. Bankr. L.J. ϰϱϳ͕ϭϵϵϭ͘ ŝƐƉŽŶşǀĞů
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ĂŵďĂŶŬϲϱΘĚŝǀсϮϳΘŝĚсΘƉĂŐĞсх. Acesso em 03.05.2016.
ͺͺͺͺͺ. hŶŝǀĞƌƐĂůWƌŝŽƌŝƟĞƐ. dĞǆĂƐ/ŶƚĞƌŶĂƟŽŶĂů>Ăǁ:ŽƵƌŶĂů, v. 33, 1998.

Insolvência Trasnacional e Direito Falimentar Brasileiro

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Insolvência Trasnacional e Direito Falimentar Brasileiro

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Insolvência Trasnacional e

Direito Falimentar Brasileiro

Alexandre Ferreira de Assumpção Alves

Raphael Vieira da Fonseca Rocha

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 9

Keywords͗Cross-border Insolvency; Systems; Bankruptcy and Reorganiza-

ŵ ŽƵƚƵďƌŽ ĚĞ ϮϬϭϯ͕ Ă ƐŽĐŝĞĚĂĚĞ ĞŵƉƌĞƐĄƌŝĂ K'y WĞƚƌſůĞŽ Ğ 'ĄƐ

10 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 11

12 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

2. A TEORIA DAS QUALIFICAÇÕES E SUA IMPORTÂNCIA PARA A

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 13

ϳZ,^d/EZ͕ĞĂƚtĂůƚĞƌ͘Direito internacional privado͗ƚĞŽƌŝĂĞƉƌĄƟĐĂ͘ϭϱ͘ĞĚ͕͘ƌĞǀ͘ĞĂƚƵĂůŝǌ͘^ĆŽWĂƵůŽ͗^ĂƌĂŝǀĂ͕

14 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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16 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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Η΀΁ŵ ŶŽƐƐĂ ǀŝƐĆŽ͕ Ž ŝŶƐƟƚƵƚŽ ĚĂ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů ĚĞǀĞ

18 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 19

20 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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22 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 23

A situação não se altera quando analisada no âmbito transnacional. A

Tal importância pode ser facilmente vislumbrada em uma situação

24 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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26 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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ŵ ĐŽŶƚƌĂƉŽŶƚŽ Ă ĞƐƐĂ ǀŝƐĆŽ͕ Ž ƉƌŽĨĞƐƐŽƌ >ǇŶŶ D͘ >ŽWƵĐŬŝ͕ ĨŽƌƚĞ

28 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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30 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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ŽŶĨŽƌŵĞ ƐĞ ǀġ͕ Ž ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ ĂůĠŵ ĚĞ ŝŐƵĂůŵĞŶƚĞ ƉŽƐƐŝ-

32 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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34 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 35

WŽƌ ŽƵƚƌŽ ůĂĚŽ͕ Ž ƉƌŽĨĞƐƐŽƌ ŶŽƌƚĞͲĂŵĞƌŝĐĂŶŽ :ĂǇ >ĂǁƌĞŶĐĞ tĞƐƚ-

36 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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38 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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K ĂƵƚŽƌ ĐŽŶĐůƵŝ ƋƵĞ Ž ƵŶŝǀĞƌƐĂůŝƐŵŽ ĨĂůŚŽƵ ŶĞƐƐĞ ĐĂƐŽ͘ ^Ğ ĨŽƐƐĞ

40 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 41

42 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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WŽƌ Įŵ͕ ĐƵŵƉƌĞ ĚĞƐƚĂĐĂƌ Ă ƉŽƐŝĕĆŽ ĚŽ ƉƌŽĨĞƐƐŽƌ ŚŽůĂŶĚġƐ Žď

44 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 45

Os aspectos transnacionais do direito falimentar brasileiro foram

46 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 47

102 VALLADÃO, Haroldo.ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 41.

48 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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50 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

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52 \R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \

114 Para leitura da mensagem de veto integral, consulte фŚƩƉ͗ͬͬǁǁǁ͘ƉůĂŶĂůƚŽ͘ŐŽǀ͘ďƌͬĐĐŝǀŝůͺϬϯͬͺƚŽϮϬϭϱͲ

\R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016 \ 53

ŵ ŽƵƚƵďƌŽ ĚĞ ϮϬϭϯ͕ Ă ƐŽĐŝĞĚĂĚĞ ĞŵƉƌĞƐĄƌŝĂ K'y WĞƚƌſůĞŽ Ğ 'ĄƐ

ϳZ,^d/EZ͕ĞĂƚtĂůƚĞƌ͘Direito internacional privado͗ƚĞŽƌŝĂĞƉƌĄƟĐĂ͘ϭϱ͘ĞĚ͕͘ƌĞǀ͘ĞĂƚƵĂůŝǌ͘^ĆŽWĂƵůŽ͗^ĂƌĂŝǀĂ͕

Η΀΁ŵ ŶŽƐƐĂ ǀŝƐĆŽ͕ Ž ŝŶƐƟƚƵƚŽ ĚĂ ƌĞĐƵƉĞƌĂĕĆŽ ũƵĚŝĐŝĂů ĚĞǀĞ

ŵ ĐŽŶƚƌĂƉŽŶƚŽ Ă ĞƐƐĂ ǀŝƐĆŽ͕ Ž ƉƌŽĨĞƐƐŽƌ >ǇŶŶ D͘ >ŽWƵĐŬŝ͕ ĨŽƌƚĞ

ŽŶĨŽƌŵĞ ƐĞ ǀġ͕ Ž ƚĞƌƌŝƚŽƌŝĂůŝƐŵŽ͕ ĂůĠŵ ĚĞ ŝŐƵĂůŵĞŶƚĞ ƉŽƐƐŝ-

WŽƌ Įŵ͕ ĐƵŵƉƌĞ ĚĞƐƚĂĐĂƌ Ă ƉŽƐŝĕĆŽ ĚŽ ƉƌŽĨĞƐƐŽƌ ŚŽůĂŶĚġƐ Žď

102 VALLADÃO, Haroldo.ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 41.

116 VALLADÃO, Haroldo. ŝƌĞŝƚŽ/ŶƚĞƌŶĂĐŝŽŶĂůWƌŝǀĂĚŽ͕ĞŵďĂƐĞŚŝƐƚſƌŝĐĂĞĐŽŵƉĂƌĂƟǀĂ͘͘͘, p. 40.

ŽŵŽ ƐĞ ǀŝƵ͕ Ă ĂƵƐġŶĐŝĂ ĚĞ ƌĞŐƌĂƐ ĞƐƉĞĐşĮĐĂƐ ƐŽďƌĞ ŝŶƐŽůǀġŶĐŝĂ

ϭϮϬK>/E'Z͕:ĂĐŽď͘Direito Internacional privado..., p. 231.

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