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The milk brand has been declared bankrupt and may disappear from the shelves

The milk brand has been declared bankrupt and may disappear from the shelves

As if all this were not enough, the company has also been hit with fraud accusations during the judicial recovery process, resulting in Court of Justice of São Paulo (TJ-SP) to declare bankruptcy healingas mentioned above.

Apart from that, it is worth noting that in 2015 AD, according to what he announced Judge Campanellathe company was already going through a period of financial difficulty.

It was then that a businessman started pouring capital into the company and acquired ownership of the brand as collateral.

In 2016, Al Shifa became officially sold to a third party, but with two companies owned by the businessman who injected capital as “guarantors” of the obligations assumed by the buyer.

One of them was also a creditor in the recovery. Shortly after the sale, according to the judge, there was the first indication of fraud.

still according to Sh 1the owner to date Provided guarantees on behalf of the guarantor/creditor company, in order to cover past debts worth R$35 million, which is illegal.

Another sign indicated was when the owner admitted a debt of R$14,556,389.80, to be paid in 60 installments of R$795,999.39. installment with interest Raising debt to a stratospheric amount of 47,759,963.4 Brazilian reals.

considerations of justice

Otherwise, the owner was never, in fact, the controlling shareholder of the reorganized company, and was in fact acting as the real owner “orange”in order to ensure the interests of third parties, Unlike those of their own company, the future debtor.

The creditor company did not, in practice, carry out the prevailing promotional activity in favor of the company under reorganization, but rather an activity aimed at making profits through disguised loans and control of the company under reorganization, the debtor;

Debt acknowledgments and surety institutions were not intended to protect the interests of the company under reorganization, but exclusively to the creditors related to the surety.