MP-SP asks for bankruptcy of Itapemirim’s vehicle and airline

This Tuesday (4), the Public Ministry of São Paulo asked the Court to block the assets of businessman Sidnei Piva and decree the bankruptcy of Viação Itapemirim and ITA Transportes Aéreos.

The opinion, signed by the 5th Bankruptcy Justice Prosecutor, Nilton Belli Filho, was sent in the process of judicial recovery of the road. The airline of the Itapemirim group, which established itself with the interstate bus service, was launched in May last year, when the highway arm was already under threat of bankruptcy.

The prosecutor points to attempts to decapitalize the bus company to use its resources on the airline, which suspended activities in December and left more than 40,000 passengers with tickets purchased without flights. During the imbroglio, Piva was even removed from the direction of the Itapemirim group, precisely on suspicion of diverting funds from creditors to cover expenses of other companies.

Another point raised in the demonstration is the interruption of ITA Transportes Aéreos operations, which in the promoter’s assessment has the potential to impact the entire Itapemirim group and justifies the inclusion of the airline in the same recovery plan, as the two companies share the same principal.

The car’s judicial recovery process began in 2016 and, although it has been approved by the Court, it has been systematically not complied with by the company. During the imbroglio, control of the company passed from the Cola family, founders of the conglomerate, to Sidnei Piva. The MP asks for his immediate removal from the presidency of the group.

“The partner Sidnei Piva would have promoted, even tacitly as provided for in the recovery plan, the air transport activity, including making loans with the appearance of fraud, with the constitution of legal entities abroad through the contribution of substantial resources that, in theory , it can lead to foreign currency evasion and other illegalities”, says an excerpt of the opinion.