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Court adjourns Ricardo Eletro's bankruptcy
06/13/2022
The 2nd Reserved Chamber of Business Law of São Paulo issued an order for the suspension of the declaration of bankruptcy of Ricardo Eletro and its parent company Máquina de Vendas Brasil so that the company can resume its judicial recovery process.
Judge Maurício Pessoa states that even if the grounds of the appeal presented by the company are not so relevant, "one cannot lose sight of the existence of an unequivocal and unavoidable 'periculum in mora', to the extent that the maintenance of the breach could cause irreversible damages, compromising the appellate instrumentality and the very right of the appellants". The company filed an interlocutory appeal with a request for suspensive effect last week after the declaration of bankruptcy by Judge Leonardo dos Santos, judge of the 1st Court of Bankruptcy and Judicial Reorganizations of the Central Court of São Paulo.
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