advice a light (lift3) pull the request to judicial recovery It was filed with the Rio de Janeiro State Third Business Court, according to columnist Dr.the worldLaura Jardim.
Now the company will negotiate its R$11 billion debt directly with creditors.
When Light Holding Company filed for recovery in May this year, it sought to protect its companies until a debt settlement and capital structure readjustment could be implemented. The judge approved the request within 48 hours.
Even earlier, in April, Light had already filed a precautionary measure requesting the suspension of some financial commitments.
After reporting a loss of R$5.67 billion last year — specifically driven by high debt, inadequate cash generation and a high rate of energy thefts — the company posted a profit of R$107.1 million and R$109.4 million in the first two quarters of this year.
Wanted by money timesThe company did not comment until the publication of this article. Space remains open for your positioning.
