Atlântico Sul Shipyard Launches Labor Credit Mediation Campaign

Written by Paulo Nogueira

Published on 22/09/2020 at 14:52

Updated on 22/09/2020 at 14:54

Estaleiro Atlântico Sul /divulgação

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Reconciliation Campaign Will Enable Partial Debt Payments Before Assembly, In A Judicial Recovery Process Of R$ 2.4 Billion

Last week, the notice for the debt reconciliation campaign with 700 labor creditors was published, in the judicial recovery process of Estaleiro Atlântico Sul (EAS), in Pernambuco. The measure, authorized by the 1st Civil Court of Ipojuca, will allow partial payment of amounts before the general creditors’ assembly, which involves a total liability of R$ 2.4 billion.

With this, creditors will be called to negotiate the credits, which are the lowest value in the entire process. The oversight of the procedure will be by the Medeiros & Medeiros Judicial Administration office, which was appointed judicial administrator of the Shipyard in February.

“Extrajudicial mediation is a new and very positive tool for the recovery process. It allows smaller creditors to receive a good portion of their credits, mitigating the impacts for workers and companies. Furthermore, it resolves conflicts and prevents other actions from being filed”, explains João Medeiros Fernandes Jr., a partner at the firm.

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Atlântico Sul Shipyard Launches Labor Credit Mediation Campaign

Reconciliation Campaign Will Enable Partial Debt Payments Before Assembly, In A Judicial Recovery Process Of R$ 2.4 Billion

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Reconciliation Campaign Will Enable Partial Debt Payments Before Assembly, In A Judicial Recovery Process Of R$ 2.4 Billion

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