13/05/2013
Justice accepts bankruptcy filing made by Mabe Brazil Autor: g1.com
The 2nd Civil Court of Hortolandia (SP) has accepted the request for judicial Mabe Appliances Brazil, which holds 20% of the Brazilian market called the white line and owns brands Dako, GE and Continental. The request was made on May 3. According to industry, the request is due to liquidity problems and "specific conditions of the Brazilian market."
Upon acceptance, the company has 60 days to submit the plan to the Justice. Mabe shut the unit Itu (SP), but still employs 2700 staff units Hortolandia and Campinas (SP).
In order to judge Cinthia Elias de Almeida Administrator determines that the court inform the court about the company's situation in ten days.
The court also said "the suspension of all actions or executions against the debtor." In another item, the judge asks "demonstrative presentation of accounts monthly while the bankruptcy, under penalty of dismissal from their managers."
On Monday (13), representatives of the company and United Steelworkers of Campinas and Region meet to discuss the reorganization. Mabe said the approval of the Justice note, see below:
Mabe Brazil reports that the 2nd Civil Hortolândia accepted this Thursday, May 9, the bankruptcy filing submitted by the company. As of now, the company has 60 days to present the plan to the bankruptcy law. The mabe Brazil filed for bankruptcy due to liquidity problems and conditions of the Brazilian market.
