Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 140

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 140
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Insolvency proceedings (Insolvenzverfahren)
are opened by a court in the event that the debtor is insolvent (zahlungsunfähig) (i.e., unable to pay its debts as and when
they fall due) or over-indebted within the meaning of the AIA (überschuldet) (i.e., its liabilities exceed the value of its
assets (evaluated on the basis of its estimated liquidation value) in combination with a negative prognosis on its ability to continue
as a going concern (negative Fortbestehensprognose)). Under Austrian law, insolvency proceedings may be initiated either by the
(insolvent) company or a creditor by filing an application to that effect with a court of competent jurisdiction. If the requirements
for the opening of insolvency proceedings are met (insolvency or over-indebtedness), the (insolvent) company must apply for the opening
of insolvency proceedings without undue delay, but no later than sixty days after the occurrence of insolvency. If insolvency proceedings
are initiated upon a creditor’s request, such creditor will have to show that the debtor is insolvent or over indebted. In the event
that the debtor is at imminent risk of being unable to pay its debts as and when they fall due (drohende Zahlungsunfähigkeit),
insolvency proceedings may be initiated only upon the debtor’s request.

If the debtor has submitted, together with its
application requesting the opening of insolvency proceedings, an application for the commencement of restructuring proceedings (Sanierungsverfahren),
the court may order the opening of either (i) insolvency proceedings or (ii) restructuring proceedings. The legal provisions
regulating restructuring proceedings do not apply to insolvency proceedings.

If it is the debtor that has applied for the initiation
of insolvency proceedings and has submitted to the court a restructuring plan (Sanierungsplan) that offers a recovery rate of at
least 20% payable to the unsecured creditors over a maximum period of two years, from the date of adoption of the restructuring plan any
proceedings so initiated by the court will be in the form of restructuring proceedings. A debtor may also submit a restructuring plan
in the course of insolvency proceedings that are already in progress whereupon such proceedings will continue as restructuring proceedings.
For the debtor’s restructuring plan to be approved by the court it must meet certain criteria specified by law.

The purpose of a restructuring plan is to enable
a debtor to