The Superintendency of Companies announced this Wednesday that the Deportivo Cali requested to be admitted into a restructuring process, invoking Laws 550 of 1999 and 1445 of 2011. The club is seeking a solution to pay its debts.
According to the criteria of
Billy Escobar Perez, Superintendent of Companies, explained that the Cali Sports He made the request last Tuesday, July 2, and after an evaluation, he made a series of requirements, “the suitability of his admission to the restructuring process will be determined.”
“After evaluating the application, a series of requirements were made, which the Association must meet within a maximum period of 1 month. Once the requirements demanded by law are met, the suitability of its admission to the restructuring process will be determined, which aims to reach an agreement with its creditors, so that the Association can recover economically and administratively within the agreed terms and conditions,” said Escobar Pérez.
The request of Deportivo Cali
The team Sugar Bowl The club is immersed in a serious economic crisis that has dragged on for years, and it is said that its debt is more than 100 billion pesos. The idea of the club with this restructuring is to recover financially under agreed conditions, one of which is to agree on a plan with the creditors.
The Superintendency of Companies is evaluating the club’s request. Deportivo Cali, which has not yet commented, is attentive to the request made at the beginning of July, as the response should arrive within a month.
“The restructuring agreement in accordance with Laws 550 of 1999 and 1445 of 2011 aims to promote recovery and employment by signing restructuring agreements in favor of Clubs with Professional Athletes who are having difficulty meeting their financial obligations and who, nevertheless, are considered economically viable,” said Billy Escobar Pérez.
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