US EditionThe Grobos Call for a Crisis Prevention Procedure While Leveraged in Their Alliance with Amaggi
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“I am writing to you in my capacity as Head of Relations with the Market of Los Grobo Agropecuaria SA, in order to inform you that by means of a Board meeting held today, the Society has decided to initiate the preventive crisis procedure provided for in Title III, Chapter 6 of the National Employment Act No. 24.013, in accordance with Decrees No. 328/88, No. 2072/94 and No. 265/2002.”
Los Grobo Agropecuaria S.A., one of the most important companies in the Argentine agro-industrial sector that is in competition with creditors, informed the National Securities Commission (CNV) that it will ask for a Crisis Preventive Procedure (PPC).The decision was made during a meeting of the Board of Directors, according to officially communicated the company through its Head of Relations with the Market, with the aim not to make layoffs, bu…
In competition since February and with a liability of US$220 million, the company seeks fiscal relief to sustain its operation and bet on business with the Brazilian giant in grains and fertilizers.
The agricultural company Los Grobo requested its Crisis Preventive Procedure (PPC).This is what it decided after a board meeting held on Wednesday, according to the company in a note sent to the National Securities Commission (CNV).From this moment on, the company will not pay some social charges, although it must continue to pay Social Work and ART.It is a tool that operates under the scope of the Ministry of Labour and allows, within this lega…
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