SanCor Faces Judicial Measures to Preserve Assets

Argentina's dairy cooperative, SanCor, finds itself under judicial scrutiny as measures have been put in place to safeguard its assets. With a critical deadline approaching for creditors to submit documentation for credit verification within the preventive insolvency process, the judiciary has begun actions against the cooperative.

Sources indicate (though not confirmed with the company) that specific measures include a general inhibition of SanCor's assets, a mandate to deposit 78 million pesos to cover current expenses by Monday, and travel restrictions on the board members, including the prohibition of leaving the country and inhibiting their assets. These actions are part of a class A insolvency case due to its scale and implications, with multiple overseers assigned for supervision.

The upcoming date, May 29, is pivotal, albeit not conclusive. The insolvency calendar also outlines July 1 as the deadline for filing objections to verified credits. As the process unfolds, it will merge legal interests, economic pressures, and political decisions.