Fluminense to auction R$10 million at labour court to settle debts early | OneFootball

Fluminense will hold an auction at the Regional Labor Court to advance the payment of a portion of its labor debt included in the Centralized Enforcement Regime (RCE). This decision is part of the club's financial planning due to the high amount expected to be raised in 2025.

Established by the SAF Law, the RCE was implemented in 2022 and allows the extension of the deadline for payment of labor debts under judicial collection until 2032. The management of the Warriors Team will allocate R$ 10 million to the auction, a little less than 20% of the current outstanding balance, which is around R$ 55 million.

Due to the regime, the club makes a monthly deposit of R$ 1.3 million and an annual fixed installment of R$ 4.8 million to the Labor Court. After the auction is approved by the Labor Prosecutor's Office and the RCE Creditors' Committee, Fluminense believes the amount could result in an even greater reduction of the outstanding debt.

Two rounds will be held during the auction ceremony: the first, with an estimated R$ 5 million, will be aimed at creditors with claims of up to R$ 1 million, without requiring any percentage discount. The second, also estimated at R$ 5 million, will be for creditors with more than R$ 1 million in claims, requiring a minimum discount of 30%. Creditors who offer the highest percentage discounts will have priority in receiving payment.

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