In bankruptcy since October, weaving Teka either issue shares to pay off part of their debts. In judicial recovery plan, released recently, the company says that three quarters of the amount owed to creditors with collateral will be paid through the issuance of the company's papers.
Among these lenders are the welfare fund for employees of Banco do Brazil (Previ), the Financier of Studies and Projects (FINEP), the federal government and Promotion Agency of the State of Santa Catarina (BADESC). Debts with collateral of Teka add a total of R $ 115.4 million. A quarter of the amount owed to these creditors will be paid with cash disbursement in 120 consecutive monthly installments. The first payment would occur after the discharge of tax debts, which are the priority in accordance with Brazilian law. The proposal is that the remainder is paid in shares, in proportion to the amount due. If you do not accept this proposal, creditors holding collateral can opt to receive real estate company as payment. The status of Teka provides that the company may undertake a capital increase of up to $ 150 million. If the creditors agree to receive shares, the drivers would forgo its right to preferential capitalization. At the end of November, the total liabilities of Teka totaled R $ 1.4 billion, of which R $ 998.5 million relate to tax debts and $ 458.8 million debts are subject to judicial recovery plan.