Internacional battles debts that have ended up in court | OneFootball

Internacional has started negotiating directly with creditors in an attempt to reduce liabilities that have already turned into a major legal battle. The legal department is working on three fronts involving Delcir Sonda, Jair Peixoto, and the parties related to the cases involving former center-back Dalton.

RTI Esporte Agency has learned that the talks still do not amount to an out-of-court restructuring. Alessandro Barcellos’ board is seeking specific solutions for ongoing cases, without presenting creditors with a single restructuring plan.

The strategy allows amounts, deadlines, and terms to be discussed separately. The largest financial volume is concentrated in the lawsuits filed by companies linked to Delcir Sonda, which are claiming around R$ 60 million in four cases.

Internacional, however, disputes the amount and believes the debt is approximately R$ 33 million. Part of the claims involves loans and transactions related to former Argentine attacking midfielder Andrés D’Alessandro.

Three cases concentrate the financial pressure

The second front involves Jair Peixoto. The agent is claiming around R$ 28.6 million in a dispute related to Bruno Fuchs’ transfer to CSKA Moscow in 2020. The discussion involves an exclusivity clause and the payment of a commission for the deal.

The case is part of the obligations the club is trying to settle through an agreement. The third front involves Dalton. The courts overturned the former center-back’s dismissal for cause, resulting in lawsuits that could cost Internacional around R$ 30 million.

Negotiation does not mean out-of-court restructuring

The legal distinction is relevant. Individual negotiation with creditors does not constitute out-of-court restructuring, as provided for in Law 11.101/2005. The mechanism requires a plan, compliance with legal requirements, creditor approval, and subsequent court ratification.

So far, the Colorado board has not presented a general plan or filed a request for ratification. The move remains limited to specific talks with creditors who have already taken the club to court.

The board is also relying on Alvarez & Marsal, hired to assess the liabilities and study alternatives to improve the financial structure. Among the possibilities are advancing revenue and new forms of fundraising.

Internacional avoids judicial reorganization

The legal department is also resisting, for now, the adoption of judicial reorganization. The priority is to find mechanisms capable of reorganizing obligations without resorting to that instrument.

The lawsuits linked to Delcir Sonda have already led to funds in Colorado’s accounts being frozen, later partially reversed on appeal. Because of this, negotiation has gained importance within the club’s financial strategy.

The outcome of the talks could determine the level of pressure on cash flow in the coming months. For now, Internacional is trying to settle individually debts that have already left the administrative sphere and are now being discussed in court.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.