Court approves Vasco R$ 40 million DIP loan from Marcos Lamacchia’s Almirante S/A | OneFootball

A Rio de Janeiro court has authorised Vasco to receive R$ 40 million from Almirante S/A, the company of Marcos Lamacchia, via a DIP loan.

According to Globo.com, the club filed the request on Saturday and it was approved on Monday after sign-off by the judicial administrator, the watchdog and the Public Prosecutor’s Office.

The ruling said the loan serves the interests of the judicial recovery process, does not compromise creditors’ rights and helps preserve the club’s activities.

The money will be paid immediately in a single lump sum, to support payments linked to the recovery and to help cash flow.

There will be no interest. The amount will be deducted from Lamacchia’s total injection if he assumes control of the club’s SAF, and the overall investment will exceed R$ 3 billion.

In October last year, Vasco took a R$ 80 million DIP loan from Crefisa, the company of José Roberto Lamacchia.

If Marcos Lamacchia becomes the new football investor, those sums will be converted into capital in the new SAF, otherwise the club will have to repay the company.

Source: Globo.com