In an interview with InfoMoney journalist Iuri Santos, Leonardo Ribeiro Dias, head of our litigation, arbitration and insolvency practice, commented on the next steps for Gol, which is undergoing judicial reorganization in the US.
Gol has filed for judicial reorganization in the US and now depends on the approval of the US$950 million financing through the debtor-in-possession (DIP) mechanism. In addition, it is very likely that the company will apply for recognition of the foreign proceedings in Brazil to protect against foreclosure by national creditors.
“It’s as if there were two insolvency processes: a main one in the United States in which it will negotiate its debts, and a secondary one in Brazil to protect the assets that are here. It’s possible and reasonable for this to happen according to need,” says Leonardo.
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