Orey Antunes granted a pardon of 52 million but remains missing – Empresas

Sociedade Comercial Orey Antunes (SCOA) succeeded, already in the midst of a pandemic, in getting creditors to approve a 90% forgiveness of its 58 million euro debt, as part of a Special Revitalization Process (PER) in which, for example, Caixa Geral de Depósitos (CGD) lost 4.2 million euros and Novo Banco 7.7 million.

After all, the SCOA has committed to complete the payment of the remaining debt of 6.5 million euros by 2032.

At the end of last year, the Lisbon Court of Appeal (TRL) rejected an appeal by the CGD in which it requested the non-approval of the SCOA PER, alleging that the company intended to obtain, through the PER, “an abusive debt relief of more than 50 million euros”, considering it a disproportionate measure.

However, the state bank accuses the SCOA of hiding assets from creditors in the PER.

According to Correio da Manhã, in the extraordinary appeal for review of the PER presented to the TRL on March 2, Caixa claims that the SCOA, headed by Duarte d’Orey, concealed the valuation attributed to two companies of a fund based in Luxembourg, for a total amount of 27 million euros.

In a request sent to the TRL on March 17, the SCOA considers that “the [da CGD] does not have the slightest legal basis”, reveals the same newspaper.

However, this Saturday August 6, four days before it will no longer be listed on the Lisbon stock exchange, due to a series of defaults in the context of the PER, the SCOA announced that it had again postponed the available for ratings for the years 2019, 2020 and 2021.

SCOA “informs that, for the reasons listed in our statement of May 31, 2022, it has not been possible to complete the process of preparing the accounting documents, including the statutory review of the accounts, for the periods ended on December 31, 2019, June 30, 2020 (six-month period), December 31, 2020 within the time period set out in the previous communication and deems the process of preparation and presentation of the above accounts of the SCOA to be complete, including the respective legal examination of the accounts, until the end of October 2022”, promises the company, in a press release sent to the Portuguese Securities Market Commission (CMVM).

“Due to the postponement of the presentation of accounts for the periods ended December 31, 2019, June 30, 2020 (six-month period) and December 31, 2020, it will not be possible to complete the process of preparing documents for the accounts, including the statutory audit, for the periods ending June 30, 2021 (six-month period) and December 31, 2021 in the period indicated in previous communications. ‘here December 31, 2022 “, he commits, still in the same statement.

The delay in the process, according to the SCOA, is the closure of the accounts of its subsidiaries.

With the abandonment of Euronext Lisbon, scheduled for August 10, the SCOA specifies that “from this date, all documents relating to the rendering of accounts will be published on the Orey group’s website (www.orey.com )”.

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