Cesar Peres Dulac Müller logo


Date: October 8, 2019
Posted by: CPDMA Team

Frigor Frigol fulfills plan and judge ends judicial recovery

As he understood that the process had reached its objective, Judge Mario Ramos dos Santos, of the 2nd Vara de Lençóis Paulista, declared the plan fulfilled and decreed the end of the judicial recovery of Frigol — the 4th largest producer of beef in the country — under the terms of the articles 61 and 63 of Law 11,101/2005. The company had been in recovery since 2010.

"It appears that the company under reorganization regularly complied with the obligations assumed in the regularly approved plan, which is why, in this case, the judicial reorganization must be considered successful, with the objectives provided for in the applicable legislation remaining fulfilled, since it was found to be the protection of the interests of creditors, or the administrative and economic reorganization of the company under recovery”, said the judge.

Of the 2,006 creditors eligible for recovery, 99.1% have already received their credits in full. The remainder, 0.84%, is composed of 17 creditors: 15 are already receiving the installments due, while the other two are in parallel negotiations.

The magistrate highlighted in the sentence the hiring of 974 Frigol employees during the recovery period. Now, the company is “responsible for 2,562 direct jobs”.

This was the second time that the Justice decreed the end of Frigol's recovery plan. In the first, in January 2016, a creditor questioned the decision and appealed to the TJ-SP. The appeal was granted and the case was returned to the original court.

New documents were presented to show that the meatpacker honored all the obligations assumed in the plan. There was a new request to close the recovery. As this time there were no questions from the creditors, the judge accepted the request.

Source: Tábata Viapiana via Conjur.


Recent posts

Discover the asset class - INDUSTRIAL DESIGN

In our series of posts explaining the differences between classes of intellectual assets, today we're going to look at INDUSTRIAL DESIGN. Industrial Design is the ornamental plastic form of an object - for example, the design of a product or the set of lines applied to a product, such as a print - that gives it [...]

Read more
Learn about the asset class - PATENTS

A PATENT is a title of ownership granted by the State over an unpublished invention (invention patent) or one derived from an existing one (utility model patent). The application for registration is made to the INPI, granting the holder the right to prevent third parties from manufacturing, using or offering for sale [...].

Read more
Corporate name: get to know this asset class

Continuing with our series of posts explaining the differences between the classes of intellectual assets, today we'll look at the BUSINESS NAME. Although trademarks - the nature of which has already been described in the previous post - can sometimes be confused with business names, they are distinct legal institutes. The business name identifies the company by [...]

Read more
PERSE: legislative changes in the emergency program to revive the events sector

Law No. 14,859/2024: amendment of the Perse rules for the period 2024 to 2026. The Emergency Program for the Resumption of the Events Sector - Perse was created in 2021 with a view to helping companies linked to the events sector - the activity most affected by the COVID-19 pandemic, by reducing [...]

Read more
The extent of insurance cover in floods

The rains that have hit Rio Grande do Sul in recent weeks have destroyed farms, properties and vehicles. Even if they have insurance, car or property owners should check the coverage of their policies to see if they can get compensation. Basic insurance for cars and properties does not usually cover floods. Insurance against electrical breakdown, [...]

Read more
The agreement to sell the most famous slimming drug of the moment

It was recently reported that the Brazilian company BIOMM has signed an agreement with the pharmaceutical industry BIOCON to distribute in Brazil a drug similar to Ozempic, indicated for the treatment of diabetes, but used mainly to treat obesity. However, this will only be possible because the patent holder of the drug has certainly authorized, through a [...]

Read more
linkedin Facebook pinterest youtube lol twitter Instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter Instagram