Atlas · Governance
Minimum percentage required for alienation in a second auction call is 50% of the appraisal value
AnswerThe minimum percentage required for alienation in a second auction call is 50% of the appraisal value of the asset.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Minimum percentage | Source | Data of record |
|---|---|---|---|
| Judicial administrator (bankruptcy) | 50% of the appraisal value of the asset | Law No. 11.101/2005, art. 142, § 3º-A, II | 09/02/2005 (redação dada pela Lei n.º 14.112/2020) |
Data consulted on 02/10/2026.
Basis
- Law No. 11.101/2005 (Planalto, in Portuguese): Article 142, § 3º-A, II, establishes that the alienation in a second auction call must occur for at least 50% of the appraisal value of the asset, within 15 days after the first call.
How it applies
The rule applies exclusively to the alienation of assets in an auction (electronic, in-person, or hybrid) during a bankruptcy process, as per Law 11.101/2005. The second call occurs after the first call (minimum of 100% of the appraisal value) and requires the bid to be at least 50% of the appraisal value. If no offer is made at this level, the asset may be alienated in a third call for any value.
Limits
- The rule does not apply to alienations outside the bankruptcy process (e.g., judicial recovery, tax or civil executions).
- The 50% percentage is fixed and does not allow for reduction or adjustment based on asset type or context.
- Law 11.101/2005 was amended by Law 14.112/2020, which introduced § 3º-A to Article 142; earlier versions do not apply this percentage.
- To check for subsequent changes, consult Law 11.101/2005 on Planalto.