PDG Realty Empreendimentos e Participações and PDG Companhia Securitizadora informed that the Court of the 1st Bankruptcy and Judicial Reorganization Court of the Judicial District of São Paulo has closed the judicial reorganization process of the companies and their subsidiaries.
According to a statement to the market, in the sentence, the court recognized that the PDG Group fulfilled all the obligations provided for in the judicial reorganization plan and its amendment, approved respectively in 2017 and 2020.
PDG added that the means of recovery foreseen are being successfully implemented, in accordance with the terms, terms and conditions foreseen. And the bankruptcy credits not yet settled and the illiquid credits, generated before the request for judicial recovery, are still subject to the effects of the plan.
The judicial reorganization allowed the restructuring of a liability of more than R$5.3 billion with more than 22,000 creditors. “With the PDG Group’s economic-financial equation, companies are turning to the development and expansion of their activities”, says the document.
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