In an interview with Exame journalist Daniel Giussani, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency department, commented on Bullguer’s restructuring plan to get out of the crisis.
The company, which went into judicial reorganization just over a year ago, had its reorganization plan approved by its creditors in order to recover from a debt of approximately 113 million reais.
“From a financial point of view, the plan follows the line of aggressive discounts for all creditors, except labor, in addition to stipulating a grace period of 14 to 18 months, payment terms that exceed a decade and with an irregular flow, starting with extremely low installments,” says Leonardo Dias.
Although the plan is considered to be in line with market practices for these cases, its real ability to recover the company is questioned.
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