BNA assured that “it will ensure that the objectives are met so that the company continues to be a great reference in the local market.”
He Banco Nación (BNA) announced that it will advance in the defense of the rights of the State in it Vicentin casein relation to the ruling of justice that rejected the shareholders’ proposal and ordered the reopening of the attendance period (article 48 LQD), also known as “Cramdown” or rescue.
In his condition of privileged creditorhe BNA “will ensure in the beginning stage that the objectives are met so that the company continues to be a great reference in the local marketfor defend sources of work and production“, highlighted the entity in a statement released on Friday night.
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The civil and commercial judge of the second nomination of the Santa Fe city of Reconquest, Fabian Lorenzinisigned on Friday the resolution that rejects approval of the agreement presented by Vicentin for leave the contestwhile opening the rescue period.
The entity’s statement indicates that in line with what was alleged by the BNA in separate presentations, including challenge to the proposal, the judge in his ruling recognized “the unequal distribution of effort between the creditors and the bankrupt company that the proposal in question implied”concluding in its ruling the need to adopt “greater control and protective presence of the State in those companies or sectors that are considered strategic”.
Banco Nación bna
Ignacio Petunchi
Now, with the opening of this new procedural stage, the possibility of State to achieve his objective in defense of the Argentines, that is, sustain the productive unit by avoiding scrapping and fundamentally its protection, concludes the statement from the BNA.
Source: Ambito
