Economy: Indecopi denies reducing University Club debt in favor of Gremco

On December 18, 2019, the University Sports Club submitted a request to Indecopi to reduce the debt that the club has against Gremco Corp SAC, the majority creditor of the club’s debt and the current president of the creditors’ meeting, looking to get rid of your debt completely.

Now, Indecopi denied the request of the “U”. In this sense, Gremco remains the majority creditor of the club and, therefore, will retain his position as president of the team’s creditors’ meeting.

Reason for reduction

The “U” argued that Gremco had generated several income thanks to advertisements made at the Monumental Stadium while said company ran the premises.

In that sense, they considered that Gremco’s credit should be reduced by an amount equivalent to the income generated by these advertisements, equivalent to US $ 32,858,321.37, according to the “U”.

The “U” argued that, since the debt they have with Gremco amounts to US $ 16,159,151.19, the income generated by the advertisements would have paid back what was owed by the soccer team.

However, Indecopi indicated that the documents presented by the University Club did not constitute reliable proof nor did they prove that Gremco received the income that the club estimated, nor the amount of said income., for which he declared his request unfounded.

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