The key request with which Vicentin rushes the court of Santa Fe to get out of his competition

Vincentian called on the Santa Fe Superior Court to return the file to the original contest judge, Fabian Lorenzini. It happens that the bankruptcy process has been paralyzed since June 2022, preventing the company from moving forward with the resolution.

Returning the case to Lorenzini marks a key step for the agri-export company to reach an agreement with its 1,700 creditors. and thus get out of the crisis it fell into since 2019 when it fell into default with a debt of more than 1.35 billion dollars.

WHY VICENTIN ASKED THE COURT TO RETURN THE DOCUMENT TO LORENZINIA

It so happens that in November the grain company won a judgment in its favor. At that point, unanimously determined by the highest court of the land the case is returned to the judge of the first instance in civil and commercial matters 2. nominations of the city of Reconquista, after the court process has been suspended since the middle of the year.

But the opinion was not reflected in practice. Vincent ensures that the file has not yet reached Lorenzini and that it is still in court. For this reason, the company’s lawyers they asked the court that “the main tender procedure be sent as soon as possible in order to continue its processing”.

“The bankruptcy file has been paralyzed since June 2022. the consequence of a completely inappropriate request, And it was carried out by someone who was extremely incompetent, and he hid this condition from this court and from other acting courts,” says the document he presented attorney Maximiliano Toricelli.

The lawyer refers to the appeal filed last year by Grassi, the main promoter of the request that the Provincial Court participate in the competition. With his grain brokerage Commodities SA, he is Vicentino’s second largest trade creditor.

Convincing the judge that the file had to go back to the trial court for the cereal company meant playing another wrestling match. To make a decision, court them asked both Vicentino and Commodities to present their arguments. He added the prosecutor’s account to them. After hearing everyone’s views, the court rejected Grassi’s proposal, so it did not accept the case and determined that it should be forwarded to Lorenzini.

Once that chapter has been resolved and a legal majority has been reached, you need to approve the agreement, Vicentin is looking to shut down his competition. The committee is optimistic that they will eventually be able to approve the payment offerboth in the number of creditors and in the percentage of capital.

The committee is optimistic that they will eventually be able to approve the payment offer.

It is that despite the break at the judicial level, the company He used this time to advance the negotiations and obtain the consent of those who had not yet given their proposal to his proposal. But he needs Lorenzini to return the file.

VICENTIN HAS REACTIVATED ONE OF HIS PLANTS

While we await Justice’s response, Vicentin is making progress in reactivating his operation. It launched in December one of its most important plants, which has remained inactive for the past three years.

This is a complex that produces balanced feed for cattle located in the Avellaneda Industrial Park, in the homonymous city of Santa Fe. In the first phase, production will be focused on the domestic market.

It will provide up to 700 tons of food in bags per month and 3,000 tons per month in bulk. The goal is to gradually increase production until, in the second case, export.

Continuation of the establishment materialized through the contract of fashion agreement concluded with Unión Agrícola de Avellaneda (UAA), a cooperative in the region, with 1,100 associated producers and a storage capacity of 2.7 million tons of grain.

On various occasions, the entity has expressed its interest in managing the Vicentin assets. But until then he failed to close any deal, given that most of the contracts signed by the grain company have large operators located, to a large extent, near Rosario as protagonists.

According to the company’s board of directors, the event “represents a further significant step towards the normalization of activity, especially the northern node, where about 200 workers work directly“, who continued to receive salaries all that time, despite not securing assignments.