Vicentin: the contest judge also asks for the balance 2019

In this way, the magistrate formally requested in writing the 2019 balance that the company would have closed last October, that is, two months before it was declared in default with debts for more than US $ 1,350 million.

The last balance of Vicentin Known so far, it realizes that in the 12-month period closed in October 2018, it billed just over $ 100 billion and made an after-tax profit of $ 1.88 billion. Its assets reached $ 64.2 billion and its liabilities were $ 43.9 billion. The 2019 balance would be key to understanding how a company that was financially solid ended in a few months with a millionaire default and in bankruptcy.

There would also be a turning point, July 2019. The committee of international banks to which Vicentin owes more than $ 500 million, warned in their presentation before the United States justice that until that date, the company showed numbers that did not They even made the financial debacle that occurred just a few months later suspicious.

“The Consortium needs to know how hundreds of millions of dollars – and possibly more than $ 1 billion – of assets disappeared. Were the financial statements presented to the banks on July 29, 2019 for the purposes of complying with the agreement inaccurate and were the inventories highly exaggerated or the accounts payable highly underestimated? ”Asks the Committee of banks in its brief.

Finally, by way of summary, the international creditors of Vicentin highlight a question that today is also in the magnifying glass of justice: “The members of the Management Consortium are eager to understand how, exactly, the Company spent, in a matter of months, informing the financial creditors who had cash, inventories and accounts receivable, to declare that they had neither inventories nor accounts receivable, that, on the contrary, they were very behind in the payments of inventories and could not continue their operations ”.

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