Post by account_disabled on Mar 7, 2024 2:27:19 GMT -5
Judge Maurício Cavallazzi Povoas, from Joinville (SC), this week accepted the request for judicial recovery from the company Busscar S/A, a manufacturer of buses and fiberglass parts for the automotive industry. The company's debt is just over R$ billion. There are , creditors — including banks, suppliers and employees — who are entitled to R$ million. Tax debts reach R$ million.
According to the company's lawyer, specialist in judicial recovery, Euclides Ribeiro, all creditors will be contacted in the coming weeks to negotiate the debts with the body manufacturer. Employees will be represented by the category union (Joinville Mechanics Union) and the main banks will make the agreements they deem most coherent. “The focus is to structure the plan so that the company can return to full strength,” he said.
He explained that initially the company did not disclose which payment options and investment planning it intended to present to the market. “There is the idea of demobilization and possibly the hiring of a restructuring consultancy to monitor the project”, he informed.
According to the lawyer, if the judicial recovery plan is BTC Number Data approved, the law determines that the back salaries of Busscar employees must be paid within a maximum period of one year. The resumption of production may occur at any time established by the board. The president of the Mechanics Union, João Bruggmann, understands that Busscar's decision to resort to judicial recovery is positive, but avoids euphoria.
For the trade unionist, judicial recovery is much better than the auction or the declaration of bankruptcy. “Whatever is appropriate and allows for the payment of salaries on time, we support. After all, Busscar belongs to society.”
The union's lawyer, Luiza de Bastiani, says that the evaluation of the Busscar Group's assets, scheduled to be completed in the next few days, will continue. She explains that the th Civil Court must summon the Labor Court. “I don’t believe that anyone will appeal the decision of the th Civil Court, as the situation has become more comfortable for creditors,” she added.
According to the company's lawyer, specialist in judicial recovery, Euclides Ribeiro, all creditors will be contacted in the coming weeks to negotiate the debts with the body manufacturer. Employees will be represented by the category union (Joinville Mechanics Union) and the main banks will make the agreements they deem most coherent. “The focus is to structure the plan so that the company can return to full strength,” he said.
He explained that initially the company did not disclose which payment options and investment planning it intended to present to the market. “There is the idea of demobilization and possibly the hiring of a restructuring consultancy to monitor the project”, he informed.
According to the lawyer, if the judicial recovery plan is BTC Number Data approved, the law determines that the back salaries of Busscar employees must be paid within a maximum period of one year. The resumption of production may occur at any time established by the board. The president of the Mechanics Union, João Bruggmann, understands that Busscar's decision to resort to judicial recovery is positive, but avoids euphoria.
For the trade unionist, judicial recovery is much better than the auction or the declaration of bankruptcy. “Whatever is appropriate and allows for the payment of salaries on time, we support. After all, Busscar belongs to society.”
The union's lawyer, Luiza de Bastiani, says that the evaluation of the Busscar Group's assets, scheduled to be completed in the next few days, will continue. She explains that the th Civil Court must summon the Labor Court. “I don’t believe that anyone will appeal the decision of the th Civil Court, as the situation has become more comfortable for creditors,” she added.