EXM Partners, administrator of the judicial reorganization process of Grupo Itapemirim, asked the Court for the bankruptcy of Viação Itapemirim and other companies. The 1st Court of Bankruptcy and Judicial Reorganizations of São Paulo, which received the petition, has not yet given its opinion.
The request was made last Friday (15) on the grounds that Itapemirim’s judicial recovery process is not being carried out, and creditors are still not receiving.
According to EXM Partners’ petition, reports from the group’s new management corroborate the bankruptcy filing, as they demonstrate the business’s unfeasibility. Among other reasons, the documents mention a scrapped fleet and pending regularization with the ANTT (National Land Transport Agency).
The administrator again pointed out to Justice that the Itapemirim Group “has not presented any accounting statement since November 2021” and has not answered questions about documents since January 2020.
“As reported by the judicial manager, Mr. Eduardo Abrahão, on June 27, 2022, the financial situation of the Itapemirim Group is still not fully known due to the reckless practices carried out by the previous management and its team. initials dated June 6, 2022, there are tax pending issues in the order of BRL 2,856,311,228.22”, states the petition filed by EXM Partner.
labor funds
Itapemirim’s headcount was reduced from nearly 3,800 employees in 2017 to 197 last year, according to EXM Partners. In the petition, the administrator reports non-payment of labor obligations from December last year to June this year and severance pay.
EXM Partners attributes the company’s current weakened “financial and operational health” to the management of Sidnei Piva, responsible for the millionaire acquisition of an airline with the Itapemirim Group in judicial recovery.
With the plan to serve 35 destinations on its network by June 2022, ITA stopped operating in December last year, affecting thousands of passengers on Christmas Eve, and has been banned from selling airline tickets since January.
In the request for bankruptcy of the Itapemirim Group, the judicial administrator claims to have received a proposal – which she considered advantageous to creditors – from Transportadora Turística Suzano for a 12-month lease, “renewable for an equal period, of all lines, counters, brands and part of the properties operations of the recovered”.
Sought, Transportadora Turística Suzano did not return the contacts of the report.
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