Itapemirim appealed and the court stopped the company’s bankruptcy. In doing so, she has returned to the stage of judicial recovery, according to the São Paulo Court of Justice (TJSP).
After operating for about six months, several mishaps led to the Brazilian airline closing its operations in 2021 and having its operating license revoked by the National Civil Aviation Agency (ANAC) in 2022.
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Practically speaking, at present, the change from bankruptcy to a judicial recovery system will not have significant effects on passengers, such as reimbursement of more than 130,000 affected customers.
A bankruptcy decree was issued for the company in July this year. However, the company was able to appeal the decision by confirming that it was not mentioned in the lawsuit and that the creditor who was declared bankrupt retracted the lawsuit before the verdict was issued.
The document indicates that the decision is preliminary and was made public on Tuesday. Judge Azuma Nishi accepted the appeal of Sidney Beva, founder of the Itapemirim Group.
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