Multi Member Court of First Instance – Case Number 1078/2014

Legal person with bankruptcy. Present or threatened failure to meet overdue financial obligations in a general manner. Restructuring procedure. A new consolidation procedure for the same debtor is not permissible if a decade has not passed since the ratification of a previous agreement. The required consent of the majority of creditors to conclude a resolution agreement may arise on the basis of a decision of the creditor’s meeting. The competent court is the bankruptcy court. The request to the bankruptcy court must describe the debtor’s business, the financial situation of the business, the reasons for its financial inability and any negotiations with the creditors. Publication of the decision to ratify the agreement in the General Commercial Registry and in the Newsletter of Judicial Publications. Preventive measures until the decision approving the consolidation agreement is adopted. During the discussion of the ratification of the agreement, the mediator, the debtor and the creditors are invited, while any third party having a legimitate interest is entitled to intervene without a preliminary ruling. Direct legal interest of creditors and employees of the applicant for additional intervention during the ratification of the agreement. Exercise of main intervention for existing overdue receivables. Previous conciliation agreement, the terms of which have not been met. There is no probability of sustainability of the applicant’s business. The envisaged measures do not ensure the continuity of the first applicant’s professional activity and its viability. Dismisses the application as unfounded. Rejects additional interventions. Accepts main interventions.