The Hopi Hari park is legally prevented from making payments to its creditors because of a decision by the São Paulo Court of Justice (TJSP), which suspended the approval of the company’s recovery plan in mid-March.
The ban includes holders of labor credits that were being paid even before the approval of the plan.
Park administrators informed that the suspension of payments occurred with the granting of an injunction submitted by creditors Alpha Consultoria and Banco Bradesco, which would have non-preferred credit of R$ 528 thousand.
Hopi Hari’s creditors who approved the plan at a meeting in February have about R$400 million to be received.
According to the park, “appropriate legal measures” are being taken to reverse the decision.
The management of Hopi Hari also reported that it tried to pay labor creditors, based on a first instance court permission, and managed to get some claims made.
However, the decision of the judge and of second instance prevented the continuity of payments, added the administrators.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
