Brief: Pharol's Claim In Insolvency Of Rio Forte Investments To Be Submitted To Luxembourg Court

Pharol SGPS SA

17/11/2023 06:47

Nov 17 (Reuters) - Pharol SGPS SA  PHRA.LS :
    * SAID ON THURSDAY CURATORS OF RIO FORTE HAD DECIDED THE
CLAIM IN
INSOLVENCY OF RIO FORTE INVESTMENTS PRESENTED BY PHAROL WILL BE
SUBMITTED TO LUXEMBOURG COURT FOR DECISION REGARDING ITS
ADMISSION TO INSOLVENCY LIABILITIES 
    * ON MAY 28, 2015, PHAROL CLAIMED CREDIT AGAINST INSOLVENCY
OF RIO
FORTE, FOR AMOUNT OF 918.1 MILLION EUROS
    * PHAROL AND INSOLVENCY CURATORS OF RIO FORTE, BY MUTUAL
AGREEMENT
HAVE ASKED AN EXPERT TO DOCUMENT FLOWS RELATED TO CLAIM
    * EXPERT'S OPINION DOCUMENTS RELEVANT FINANCIAL FLOWS IN
DETAIL
AND IT HAS NOT REVEALED ANY NEGATIVE FACT ATTRIBUTABLE TO PHAROL
    * HEARING FOR PLEADINGS BY BOTH PARTIES SHOULD BE SCHEDULED
SHORTLY BEFORE LUXEMBOURG COURT, PROBABLY IN SECOND QUARTER OF
2024
    * FOLLOWING DEBATES DURING HEARING, COURT WILL DECIDE ON
JUSTIFICATION AND MERITS OF PHAROL'S CLAIM

        
 Source text: https://tinyurl.com/48ekkn9t
 Further company coverage:  PHRA.LS  

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