Justice accepts request and extends deadline for Cruzeiro’s judicial recovery

During this new period of 180 days, the club is free from new pledges, punishments or actions by its creditors.

The Justice of Minas Gerais, in the figure of Judge Claudia Helena Batista, of the 1st Corporate Court of the Comarca of Belo Horizonte, extended, for another 180 days, the deadline for the judicial recovery of Cruzeiro. With that, all actions and executions of its creditors towards the celestial club were suspended.

With that, the celestial club has until March 27 to present a new list of creditors – (Photo: Staff Images/Cruzeiro)

Photo: Lance!

With the court decision, at least until that period, Raposa is free from new attachments, actions or executions. This is because, according to the aforementioned judge, Cruzeiro did not fail to comply with the legal determinations of the process, and now has until March 27 to present a new list of creditors.

– I understand that maintaining the deadlines for suspension of enforcement actions should be extended as required, in order to safeguard the principle of preservation of the company and not jeopardize the progress of the process – said the magistrate.

Justice also denied the request of some creditors, who wanted to transform the judicial recovery process into bankruptcy. In this case, Cruzeiro would have its assets auctioned and the money would remain with those who have credit with the Association.

Altogether, Cruzeiro tries to renegotiate something around R$ 537 million with an extensive list of creditors. In December last year, the club had an Assembly of Creditors scheduled, which was also suspended due to legal action, since many of those who Raposa owes complained about the renegotiation molds.

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