Vasco unveil new recovery plan with key changes for creditors | OneFootball

Under pressure from criticism from the Public Prosecutor’s Office and the upcoming General Meeting of Creditors, Vasco da Gama filed a new version of its Judicial Recovery Plan (RJ) in court. The document, presented in the early hours of this Thursday (09), brings important changes and creates “subclasses” of creditors, in an attempt to adapt the proposal and increase the chances of approval.

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Vasco seeks to correct “illegalities” pointed out by the Public Prosecutor’s Office

The reformulation of the plan is a direct response to the opinion of the Public Prosecutor’s Office, which had pointed out “serious illegalities” in the first version, mainly regarding labor debts and value adjustments. The board, therefore, rushed to adjust the text and present a proposal more palatable to creditors and the court.

The main strategic change, according to journalist Danilo Danteskoo from Expresso 1923, is the creation of “subclasses” for different types of creditors. The measure aims to offer different and more attractive payment conditions for specific groups, such as benefactors who lent money to the club, football agents, clubs, and holders of image rights.

For labor creditors who did not adhere to previous agreements, the new plan also provides for the possibility of receiving up to 150 minimum wages.

Plan will be voted on today at the assembly

The new document, with more than 80 pages, will be presented and voted on at the General Meeting of Creditors, which takes place this Thursday. Approval of the plan is the most important step for Vasco to finally begin restructuring its billion-real debt and ensure the club’s financial health for the future.

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