Justice approves request for judicial recovery of 123 Milhas By Reuters

by time news

2023-08-31 22:30:53

© Reuters. REUTERS/Pilar Olivares

SAO PAULO (Reuters) – The Justice of Minas Gerais on Thursday granted the request for judicial recovery filed by travel platform 123 Milhas, subsidiary HotMilhas and partner Novum Investimentos.

The decision by Judge Claudia Helena Batista, from the 1st Business Court of the District of Belo Horizonte, suspends all actions and executions against the debtors for a period of 180 days and requires the presentation of a recovery plan within 60 days.

It also determines that “the recovery plan to be presented to the court must contain measures to repair the universe of consumerist creditors for the damage caused throughout the national territory”.

The judge also prohibited, “for now”, the removal of any assets necessary for the debtors’ business activities.

123 Milhas reported on Tuesday that it had submitted a request for judicial recovery in order to “ensure the fulfillment of the commitments assumed with customers, former employees and suppliers”.

The company has been in focus since it announced, on August 18, the cancellation of tickets and packages for the Promo line, which offered cheaper flights with flexible dates, with departure forecast from September to December 2023, citing the ” persistence of adverse economic and market factors”.

(Reporting by Patricia Vilas Boas)

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