The fuel giant has just finished

The fuel giant has just finished

The court declared bankruptcy for the company responsible for manufacturing the fuel

The courts simply declared bankruptcy of a large company known for producing fuel. The decision came after the company was unable to settle its accounts.

As we know, when a company goes through a financial crisis, it can ask for judicial recovery to recover, but if it fails, the court declares it bankrupt, if the company itself does not take the initiative.

And the company Central alcohol, located in the rural district of Inhomas, in the Goiania metropolitan area, was declared bankrupt by the courts in June of that year. According to the O Popular website, Judge Flavia Lanción Costa Pinheiro is responsible for issuing the ruling.

The judge explained in her opinion that the financial crisis that began in 2007 ended with its worsening with the global crisis in 2008. In 2013, the situation worsened further due to the costs of raw materials.

Alcohol factory – Image: Reproduction/Internet

In the decision, the judge stressed the importance of the temporary continuation of the bankrupt company’s operations under judicial administrative supervision: “Considering first of all the number of working employees whose contracts termination may lead to undeniable negative financial effects and the time required for this to terminate and organize the bankruptcy itself.

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Moreover, I also envisage the possibility of optimal use of the resources of bankrupt people, especially with regard to payments to creditors, who will be harmed by the immediate cessation of their activities, which will have adverse effects on the economy and will reduce the possibility of debt payments. Debts owed by the bankrupt estate.”

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The court declares Centroálcool bankrupt - Photo: Reproduction/internet
The court declares Centroálcool bankrupt – Photo: Reproduction/internet

What does Centroálcool do?

It should be noted that Centroálcool was founded in 1981, with a processing capacity of 1.2 million tons of sugarcane/crop and storage of 30 million liters of ethanol, distributed over 5 tanks. According to the same source, the factory provides more than 3,000 direct job opportunities and 10,000 indirect job opportunities.

What about the employees?

Concerned about all employees, This was the reason that prompted the judge to rule and grant reparation That the bankrupt properties remained in operation so as not to leave employees helpless. Under the new administrator, the idea is to impact workers as little as possible.

Centroálcool declares bankruptcy (Image: Reproduction)
Centroálcool declares bankruptcy (Image: Reproduction)

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About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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