Court reverses Ricardo Eletro’s bankruptcy once again

Court reverses Ricardo Eletro’s bankruptcy once again

Last Tuesday, 5th, the company had received the court decision informing about the second declaration of bankruptcy in just 26 days

THE Justice reversed this Monday, 11, the decree of bankruptcy of the Vending Machine, owner of Ricardo Eletro. Last Tuesday, 5th, the company had received the court decision informing about the second declaration of bankruptcy in just 26 days. The revocation was published by Beretta da Silveira, president of Private Law at TJ-SP.

The company has a debt of R$4 billion, of which R$2 billion belongs to Santander and Bradesco. The company’s argument is that the majority of creditors approved the judicial reorganization plan. For Pedro Bianchi, current CEO of Máquina de Vendas, it was the individual interests of three banks that led to the bankruptcies.

Ricardo Eletro seeks to restructure itself by selling products in electronic commerce, and around 40 people make up the current staff.

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