Rio court approves Vasco payment plan in judicial recovery | OneFootball

The Rio de Janeiro court has approved Vasco’s payment plan as part of its judicial recovery, a ruling delivered on Sunday afternoon shortly before the Copa do Brasil final. It is viewed as a key step in the club’s financial restructuring.

According to Globo.com, the decision was issued on duty and signed by judge Caroline Rossy Brandão.

In her reasoning, the judge said she had examined objections and preliminary matters, checked the legality of the plan’s clauses, and noted that creditors approved it by a strong majority at a meeting in October. She then granted judicial recovery and ratified the plan.

The ruling also confirmed the validity of that creditors’ meeting. It had been challenged over an alleged lack of quorum and supposed abusive conduct during the vote.

The court rejected those arguments, found no concrete harm to creditors, and recorded that the challenger voted in favour of the plan.

Source: Globo.com