In an interview with Bloomberg Línea Brasil, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency department, commented on the request for judicial reorganization by Maxmilhas, which was acquired in January by 123milhas.
With a debt of R$226 million, Maxmilhas wants to stop paying creditors and suppliers for a while, but intends to maintain its activities in order to pay off all the amounts owed and be able to re-establish itself financially.
According to Leonardo Dias, with 123milhas’ request for judicial reorganization, Maxmilhas would have suffered the so-called ‘ripple effect’, which affected other companies in the group that were not experiencing financial difficulties at the time, causing a crisis of confidence in consumers and the market.
Click here to read the full article.
