In an interview with Correio Braziliense, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency practice, commented on the online travel and points trading agency 123 Milhas and the possibility of it going into receivership.
123 Milhas suspended packages and the issuing of tickets for its promotional line and took consumers by surprise, rekindling the alert about the offer of super-cheap trips, with distant and flexible dates.
According to Leonardo Dias, the case could result in a judicial recovery regime – the process a company goes through to avoid total bankruptcy when it enters a financial crisis, if the company cannot withstand the probable financial outflows and does not receive contributions from partners or investors.
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