US EditionWithout Offers or Investors, Garbarino Was One Step Away From Bankruptcy
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Garbarino was a step away from the bankruptcy.At the hearing held on February 24 before Commercial Court No. 7, the contest itself acknowledged that it failed to obtain investors, while the only company registered in the register of article 48 of the Law on Competitions and Bankruptcy confirmed that it did not submit any proposal.With this declaration, the phase of crimdown was virtually closed, the saving mechanism that allows interested third …
At the last court hearing Garbarino admitted that he did not get interested and the only note did not submit an offer to buy it. He only has 3 open premises with virtually zero activity and 18 employees who support them. He came to have a staff plant of 5,000 people. Garbarino seems no longer to have a point of return. At the February 24 information hearing, the company acknowledged before the court that it failed to attract investors to sustain…
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chacodiapordia.comAt the last hearing the firm admitted that it did not get interested and the only note did not submit offer. The numbers already show a virtually non-existent operation.
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