A EFICÁCIA E O ALCANCE DA NOVAÇÃO OBRIGACIONAL PERANTE OS COOBRIGADOS NOS PROCESSOS DE RECUPERAÇÃO JUDICIAL

Article 49, paragraph 1, of Law 11,101/05 provides that creditors retain their rights and privileges against co-obligors, guarantors, and recourse obligors. Over the years, case law has faced several debates on the matter, mainly regarding the possibility of novation—operated through the approval of the judicial reorganization plan—having an effect on co-obligors. The purpose of this article is to analyze the historical evolution of contractual novation, its impacts and effects on the judicial reorganization process, discuss the controversies faced by case law regarding the effect of novation on co-obligors, and explore the most recent judgments, which have promoted definitiveness in the case law of the Superior Court of Justice.