Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 62

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 62
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 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 be released from a portion of its debts (not to exceed 80% of the aggregate amount thereof) and to continue its business operations.
A restructuring plan has to be approved by a “qualified majority” of the debtor’s unsecured creditors. A “qualified
majority” refers to a majority of the debtor’s unsecured creditors present at the respective court hearing, provided that
such majority represents more than 50% of the aggregate amount of all claims of the unsecured creditors being present at such hearing.
Once the debtor has complied with the terms of a restructuring plan that was duly approved by the creditors and confirmed by the court,
it will be released from its remaining outstanding unsecured debts. Unsecured creditors whose claims under the restructuring plan have
not been satisfied in accordance with the plan’s terms may enforce their individual claims against the debtor, in which case the
restructuring proceedings will be continued as insolvency proceedings.

If the restructuring proceedings have been initiated
and the debtor has submitted a restructuring plan that offers a recovery rate of at least 30% to the unsecured creditors over a maximum
two-year period after the approval of such restructuring plan, the debtor qualifies for self-administration (Sanierungsverfahren mit Eigenverwaltung).

Unless the debtor qualifies for self-administration,
it is not allowed as of the date of the opening of the insolvency or the restructuring proceedings, as the case may be, to dispose of
the assets belonging to the insolvency estate (Insolvenzmasse). The opening of insolvency proceedings takes effect on