The term "recovery" could also be used according to the refereces below.

Based on:

"This Thursday, Judge Gilberto Matos, from Rio de Janeiro, accepted the judicial reorganization petition from the oil company OGX, from Eike Batista."
Source: https://www1.folha.uol.com.br/internacional/en/business/2013...

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Note added at 13 mins (2023-01-17 15:47:37 GMT)
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Also based on the definition by Marcílio Moreira dictionary, page 347:

https://static1.squarespace.com/static/56f1ef9045bf21ad0eb86...

Petition, rather than a request, for family (Scots law: action for divorce) and insolvency matters, plus adjudication, rather than adjudging (see the answer of first ProZ web ref.,) of insolvency - though a borderline case of terminology, as used in London insolvency law chambers.

Please note 1. court-supervised vs. a compulsory receivership etc. or involuntary in AmE,
and 2. AmE corporate bankruptcy vs. personal bankruptcy + insolvency in E&W and - let's not forget Scotland again - sequestration.

The first example sentence to bear out Josiane L's answer, though the terms of turnaround and earnout in actual commercial practic/se had been nagging me - and maybe other (ex-)practitioners, too.