Justice decides payment for former employees of Encol – 05/04/2023 – Panel SA

Employees of the defunct Encol, one of the largest construction companies in the country in the 1990s, are awaiting judgment of an appeal next week in the expectation that, after 24 years of waiting, they will be able to receive their arrears.

There are more than 8,000 workers on the list of creditors of Encol’s bankrupt estate.

According to the association that represents this group, there are BRL 220 million in the bankrupt estate’s cash register. The release of these funds depends on the decision of the court.

Last year, the TJ already determined the payment of debts of up to R$ 25 thousand for some workers.

The association, however, did not find objective reasons to justify the payment only to this group and filed an appeal, asking for the extension of the payment to all workers.

Over more than two decades, 1,200 creditors died waiting for a resolution to the impasse created with the bankruptcy of the construction company in 1998.

With Diego Felix

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