Justice of Minas Gerais accepts request for judicial recovery of 123milhas

The Justice of Minas Gerais accepted this Thursday (31) the request for judicial recovery of 123milhas. In the decision, Judge Cláudia Helena Batista, from the 1st Business Court of Belo Horizonte, suspends all actions and executions against the company for 180 days. on Tuesday (29), the travel agency informed in the request for judicial recovery that it had a debt of around R$ 2.3 billion.

In addition to 123milhas, the decision covers 123 Viagens e Tourism LTDA, Art Viagens e Tourism LTDA and Novum Intestimentos Participações SA. Companies must submit a recovery plan within 60 days, under penalty of bankruptcy, informed the portal UOL. It is estimated that 123milhas has more than 700,000 creditors, most of which are clients affected by the suspension of travel and accommodation packages, according to the decision.

The judge appointed two court administrators in the process: Paoli Balbino & Barros Sociedade de Advogados and Brizolar e Japur. They have 48 hours to indicate whether or not they will accept the role. The two administrators will receive fees of 4% of the declared liabilities, that is, R$ 92 million.

In addition, the magistrate requested that the company send documentation that was not presented. For the judge, “judicial recovery is intended to make it possible to overcome the debtor’s situation of economic and financial crisis, in order to allow the maintenance of the production source, the employment of workers and the interests of creditors”.