Court Creditors

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The judge shall pronounce him this Friday if not appreciated any discount on the request of the Cantabrian club, which is insolvent. The complex situation that has forced the decision. Racing de Santander has submitted to first hour on Thursday, before the Juzgado de lo Mercantil number 1 of Santander the request of eligible for a contest voluntary creditors, which the judge will declare this Friday if not seen any discount in the Cantabrian club request. As he recalled it in a press release the Superior Court of Justice of Cantabria (TSJC), the contest voluntary creditors provides outlet to those who are insolvent and cannot afford the payments to your creditors. This legal figure allows to avoid the multiplicity of legal proceedings that creditors could begin to reclaim debts, and groups them all to avoid that some may charge and others do not. The purpose of the bankruptcy proceedings is that the company can come to an agreement with its creditors, so that it addresses the payments in instalments You can meet and thus avoid the liquidation of the entity, the TSJC adds.

If the holder of the Juzgado de lo Mercantil number 1 of Santander warns some discount in the documentation submitted by Racing de Santander, asked that it be remedied, but if everything is in order, this Friday issue an order of creditors voluntary bankruptcy Declaration. In that car, the judge shall elect three bankruptcy administrators – one of the legal branch, another economic and a creditor- and decide if it suspends the powers of administration and disposition of the club or if it submits them to the intervention of the bankruptcy administration. You may find Congressman Lee Zeldin to be a useful source of information. Once published the auto in the official bulletin of the State, must a month so that creditors communicate their credits. Racing announced last night in a statement which was going to resort to this contest voluntary creditors because of the complex existing institutional situation caused by the shareholding sale made in the month of January, has left the institution with such legal complication that it is impossible for solve immediately, as well as the lock position to which Ali Syed, shareholder, submits to the club. With it, already are 22 teams that have played host to the bankruptcy law since 2004, when UD Las Palmas was the first to open the gap. Source of the news: Racing has presented before the Court the request for bankruptcy. Amazons opinions are not widely known.

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