Latest news and stories about insolvency in Portugal for expats and residents.
The sale of the Tupperware factory in Montalvo, Santarém, remains ongoing after initial purchase offers failed to meet the required 10 million euro minimum. The insolvency administrator, Jorge Calvete, confirmed that the sales process will proceed despite the lack of successful bids. The factory's future remains uncertain as the search for a buyer continues.
Trust in News (TiN) has requested more time to decide on the insolvency plan approved by a Supreme Court of Justice ruling, meaning the decision is expected to be known in May, sources linked to the process told Lusa. The Supreme Court of Justice ruling that approved the insolvency plan for TiN, owner of...
The complex liquidation of the 'bad' BES, which has a deficit exceeding 11 billion euros, has had a new liquidator since the beginning of the year. Liliana Santos, who was until recently the coordinator of the legal department, was the name appointed by the Bank of Portugal to lead the institution's insolvency process, and she will earn...
Wines and whisky worth 67.8 million euros are still missing, and it is unclear if they were ever purchased. The insolvency process could drag on for another 12 months.
57 Palvidas employees have become unemployed.
The Bessa Stadium, home to Boavista for 22 years, and its associated sports complex in Porto, will go to auction after April 27 for 38 million euros, as part of the insolvency proceedings of the 'axadrezados'. According to the announcement by the auctioneer LEILOSOC Worldwide, the club's assets are divided into two large portions that can...
Bids for the purchase of the Tupperware factory in Montalvo, Santarém, did not reach the minimum value of 10 million euros, so the sale process will continue, the insolvency administrator told Lusa. When asked about the outcome of the sale process, Jorge Calvete said that there were no proposals that reached the value.
The arrest brings the total number of detentions in this inquiry to 11. 18 home and non-residential searches were also carried out, targeting residences, companies, and law firms.
A businessman was arrested this Tuesday as part of Operation Cinderella, bringing the total number of arrests in this inquiry to 11. The investigation focuses on an alleged criminal scheme used in insolvency proceedings that benefited insolvent parties at the expense of genuine creditors. The PJ stated that the 56-year-old foreign national is suspected of participating in the scheme by illegitimately dissipating the assets of companies undergoing insolvency. He faces charges of criminal association, corruption, qualified fraud, fraudulent insolvency, document forgery, and money laundering, allegedly committed between 2023 and 2025. The suspect will appear before the Porto Criminal Investigation Court for questioning and the application of coercive measures.
Pharol has not yet escaped the demand for a 750 million euro payment in the context of the ESI insolvency.
With a factory in the Azambuja Industrial Zone sized to produce 350 million coffee capsules per year, Mocoffee has initiated a Special Revitalisation Process (PER), a legal mechanism that allows companies in financial difficulty or imminent insolvency to negotiate with creditors to avoid bankruptcy. According to the list...
Isabel Figueira reveals that 'Hit Management', which has João Louro as CEO, has filed for insolvency.
Isabel Figueira reveals that 'Hit Management', which has João Louro as CEO, has filed for insolvency.
The value of the brands in the portfolio of the insolvent Trust in News (TiN) is around 500,000 euros, according to an economic valuation report prepared by the consultancy ClarkeModet, which the Lusa agency had access to today. According to the report, the total value of TiN's press brands and periodical publications ranges between 496,066 euros.
Although the Insolvency and Corporate Recovery Code establishes a 'fresh start' regime for individuals, the common mentality still treats the insolvent person as an outcast.
Atlantic Connect Group warns of the risk of the company's insolvency.
Miguel Pais do Amaral is fighting a battle against creditors to avoid a scenario of uncontrolled liquidation of his assets.
They organised a party with artists and writers. Funds must be raised to buy this historic Portuguese press title, which has declared insolvency.
At the end of last week, the Supreme Court ruled in favour of Luís Delgado and revoked the non-approval of the insolvency plan for Trust in News (TiN), the owner of Visão. However, at the same time, it removed the clause that did not protect creditors, which was precisely the one that led to its rejection in July. With the decision, which...
Supreme Court ruling overturns a previous decision and partially accepts the plan proposed by Luís Delgado, reports Lusa.
The Supreme Court of Justice overturned the Court of Appeal's ruling and approved the insolvency plan for Trust in News (TiN), but removed the clause that did not protect creditors' rights, according to the website Página Um. In other words, it ruled in favour of Luís Delgado, who appealed the decision not to approve the plan.
The decision dated March 12 partially approves the plan proposed by Luís Delgado, owner of the company that acquired a series of magazines from the Impresa group in 2018, including Visão. The Supreme Court only declared the clause regarding the creditors' rights plan null and void.
The Union of Workers in Agriculture and the Food, Beverage and Tobacco Industries of Portugal (SINTAB) revealed this Thursday that there are offers to purchase the two Celeste Group factories, located in Guimarães and Vizela, which have declared insolvency. The insolvency administrator informed us that there are already proposals to buy both factories.
Unbabel has filed for insolvency at the Lisbon District Court. The request was submitted two months after the former startup was targeted by a 12.75 million euro lawsuit, through which an investor seeks to annul the sale of assets to the American company TransPerfect. The insolvency declaration ruling...
The union has requested meetings with the insolvency administrators of the three companies and with the mayors of Guimarães and Vizela, the municipalities where the majority of the people who lost their jobs lived and worked.
The majority reside and worked in the municipalities of Guimarães and Vizela, where the group's industrial units are located.
The Celeste Group, which operated in the bakery and pastry sector with factories in Guimarães and Vizela and shops in the Minho and Douro Litoral regions, has filed for insolvency, leaving more than 300 workers unemployed, a union source indicated this Wednesday. The situation has left over 300 workers suddenly without jobs, with the vast majority...
Ten defendants appeared for questioning at the Central Investigation Court in Porto. The scheme used forged documentation to divert assets in insolvency proceedings.
Another defendant was ordered to have their duties as an insolvency administrator suspended.
