The Judicial Court of the District of Porto declared businessman Manuel Serrão insolvent in proceedings brought by No Less, one of the companies investigated in Operation Maestro. “At the Judicial Court of the District of Porto, Commercial Court of Vila Nova de Gaia – Judge 4 of Vila Nova de Gaia, on 05-01-2026, at 10:26 ...”
Porto court declared Manuel Serrão insolvent
Friday, 9 January 2026RSS
RSS source
Context & Explainers
Insolvency is a legal finding that a company cannot pay its debts when due, which opens a court‑supervised insolvency proceeding (processo de insolvência) to restructure the business or liquidate assets. The court appoints an administrator, creditors file claims and certain claims (like unpaid wages) often get priority; for employees this can mean job loss but also possible access to outstanding wage protection schemes, while creditors may recover only part of what they are owed.
