Brief: Pharol Gets Notice To Appear Before Commercial Court Of Luxembourg

Pharol SGPS SA

22/02/2024 06:20

Feb 22 (Reuters) - Pharol  PHRA.LS :
    * SAID ON WEDNESDAY IT HAD RECEIVED IN FEBRUARY NOTICE, FROM
LUXEMBOURG ENFORCEMENT AGENT REPRESENTING LIQUIDATORS OF RIO
FORTE INVESTMENTS (RFI)
    * NOTICE TO APPEAR BEFORE COMMERCIAL COURT OF GRAND DUCHY OF
LUXEMBOURG ON APRIL 19, AT 9:00 
    * SESSION DETERMINES START OF COURT PROCEEDINGS, AND PHAROL
DOES
NOT HAVE TO TAKE ANY POSITION ON CASE UNTIL THEN
    * THIS IS ABOUT A REQUEST TO HAVE PAYMENT OF 199.6 MILLION
EUROS
MADE BY RFI ON APRIL 15, 2014 DIRECTLY TO PHAROL DECLARED NULL
AND VOID
    * LIQUIDATORS RECALL IN NEW NOTICE INSOLVENCY ADMINISTRATORS
OBJECTED TO PHAROL'S CREDIT CLAIM DECLARATION AS UNSECURED
CREDIT CLAIM FOR 918.1 MILLION EUROS, MERELY ON GROUNDS OF
ALLEGED "PRUDENCE"
    * FROM NOTICE RECEIVED, NO NEW ARGUMENTS RESULT THAT, IN THE
OPINION OF PHAROL,SUPPORTED BY LEGAL OPINION OF ITS LAWYERS,
COULD CHALLENGE REGULARITY OF COMPANY'S CREDIT CLAIM ON RFI'S
INSOLVENCY IN AMOUNT OF 918.1 MILLION EUROS 

        
 Source text: http://tinyurl.com/3xurexau
 Further company coverage:  PHRA.LS  

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