July to Decide the Fate of SanCor and Vicentin
Sourse: dairynews.today
Critical decisions in July could shape the future of Argentina’s SanCor and Vicentin amid substantial debts and judicial proceedings.
July will be a pivotal month for two of Argentina's iconic companies, SanCor and Vicentin, as they face crucial judicial decisions that could determine their futures. SanCor, the historic dairy cooperative from Sunchales, is teetering on the edge of a critical judicial outcome after presenting a $400 million USD debt restructuring plan.
A judge is set to decide whether to approve or reject this proposal, a decision that will determine if SanCor can continue operations or face increased risk.
Simultaneously, Vicentin, a leader in agro-exportation, is navigating its own bankruptcy proceedings. In the coming days, a registry for bidders to present rescue proposals (cramdown) will open, aiming to prevent the company's liquidation following the rejection of a preliminary agreement.
Vicentin's situation intensifies due to liabilities exceeding $1.5 billion USD, with the upcoming registry marking a decisive step towards reorganizing its structure, potentially involving hearings, independent evaluations, and the deposit of guarantees.
Both companies anticipate crucial judicial decisions following prolonged creditor negotiations. SanCor's financial maneuvers, including recent dealings with other firms like Elcor (Tonadita butter), are under scrutiny, focusing on transaction transparency ahead of bankruptcy proceedings.
This month, deemed crucial by stakeholders, may redefine industry trajectory, employment security, and cooperative models in Argentina's agribusiness landscape.
A judge is set to decide whether to approve or reject this proposal, a decision that will determine if SanCor can continue operations or face increased risk.
Simultaneously, Vicentin, a leader in agro-exportation, is navigating its own bankruptcy proceedings. In the coming days, a registry for bidders to present rescue proposals (cramdown) will open, aiming to prevent the company's liquidation following the rejection of a preliminary agreement.
Vicentin's situation intensifies due to liabilities exceeding $1.5 billion USD, with the upcoming registry marking a decisive step towards reorganizing its structure, potentially involving hearings, independent evaluations, and the deposit of guarantees.
Both companies anticipate crucial judicial decisions following prolonged creditor negotiations. SanCor's financial maneuvers, including recent dealings with other firms like Elcor (Tonadita butter), are under scrutiny, focusing on transaction transparency ahead of bankruptcy proceedings.
This month, deemed crucial by stakeholders, may redefine industry trajectory, employment security, and cooperative models in Argentina's agribusiness landscape.
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