The court stops 123 Milas’ request for judicial recovery

Rafa Niedermayer/Brazil Agency123 Miles requested injunctive relief from the court

Hey Court of Justice of Minas Gerais (TJMG) has temporarily suspended the judicial recovery request for 123 miles This Wednesday, the 20th. The company had requested the suspension of procedures for creditors and consumers who went to court after the interruption of services for 180 days. The decision was taken by Judge Alexandre Victor de Carvalho, of Specialized Chamber No. 21 of the Court of Justice of the State of Minas Gerais. Under the decision, the suspension will be maintained until the completion of a procedure called pre-verification. The judge kept the detention period for 180 days, and called Survival periodAt this point, all ongoing legal proceedings against the travel agency are suspended. “The enormous extent of the case – the initial petition indicates an average of 5 million clients per year and financial transactions exceeding R$ 5 billion in 2022, and on the other hand, more than 700 thousand creditors have deposited their dreams in “aggravated corporate travel – in addition to the fact that the defendants The defendants are technology companies, which requires differentiated, attentive and diligent monitoring by IT experts,” an excerpt of the decision reads.

Previously, the judge had already appointed KPMG Corporate Finance Ltda, from São Paulo, and Juliana Ferreira Moraes, from Minas Gerais, as experts to conduct this survey. “The experts need to express themselves, confirm their acceptance of the appointment made by the court, and then submit a fee proposal, approved by the court or not. Payment of the fee falls to the three companies,” says TJMG. In the decision, Alexandre Victor De Carvalho stated that “the analysis carried out by technical professionals regarding the real operating conditions of companies and the regularity and completeness of the documents submitted is essential, for the subsequent approval of the judicial recovery process or not.” The request, according to TJMG, was filed in an interlocutory appeal filed by Banco do Brasil, which is among Creditors. The financial institution stated in its claims that the companies did not submit all the documents required by law to be able to process the judicial recovery, nor did they provide a list of creditors. “The applicable legal requirements, which guarantee creditors, were not taken into account. the ownersThe Public Prosecutor’s Office and other interested parties have the necessary and sufficient knowledge of the company’s administrative, economic and financial information, necessary for the adequate exercise of the rights they have in defending their rights and interests in the case,” the bank says.

Under the decision, the need for a shielding period was also proven. “As long as the initial verification continues, companies will be exposed to a real rush by thousands of creditors to honor their credits individually, which will clearly affect the potential judicial recovery,” the judge said. According to TJMG, once the survey is completed, the case will be judged by the judges of TJMG’s Specialist Chamber No. 21, “who will assess whether judicial recovery is viable and should be appealed, or whether the case is over.” Bankruptcy.” Normally, the legal deadline for completing the preliminary results is five days. However, due to the complexity of the case, the judge believes that a longer period may be needed, and it is not possible to estimate the duration of the extension. He also stressed that the suspension of the matter does not constitute an obstacle to the company’s work. In Contacting Jovem Ban, 123Milhas clarifies that the judicial restitution request is still valid. According to the agency, the decision “only halts the processing of the judicial restitution process, in the first instance, until the examination of the expert appointed by the judge is completed.”