After the Santa Fe Supreme Court dismissed the $1.5 billion bankrupt Vicentin case, Reconquista civil and commercial judge Fabián Lorenzini excused himself from continuing to lead the case, after feeling affected by the “violence morale,” after the lawyer Gustavo Feldman, who represents a group of creditors, filed a jury against the magistrate.
In an 11-page brief, Lorenzini argued his decision on the basis of the trial jury he requested for magistrate Gustavo Feldman, lawyer for a group of creditors. In this sense, the magistrate said he apologized “for having found myself involved in the cause of moral violence and compliant with the decorum required by the investiture of magistrate”.
With the same deed, he forwarded the file, his events and related actions to the legal substitute, who is the third-appointed civil and commercial judge, Dr. Ramiro Avile Crespo. The new judge must decide whether to keep the trial as it came, already with enough creditor guarantees to close the competition; or if he investigates further and comes back.
The company has presented to the court the complete list of creditors who have accepted the payment proposal, thus paving the way for the closure of the “preventive agreement”.
“There is evidence that eligible creditors won overwhelming creditor support for the proposed bankruptcy. Indeed, the already very demanding legal requirements have been largely exceeded,” said Guido Javier Ferullo, the company’s lawyer in a document that was presented before the Reconquista Court.
In Vicentin they believe that in a bankruptcy of this size the endorsement by the creditors “expresses a clear and explicit consent of the will of the vast majority of the verified creditors to accept the bankruptcy proposal and to be able to access the collection of their debts in the period shorter time”.
“Thus, 1017 creditors signed their agreement with the proposal; they constitute 62.86% of the people when the law requires a majority of more than 50%,” they assured.
Measured in terms of eligible credit capital, the sum of these 1017 compliances totals $66,920,857,373. It is 72.82% of the capital, when the law requires a majority greater than 66.6%.
Source: Clarin
