A significant asset currently held is TAPGER, with liquidity to be used in this process.
In August, the Judicial Court of the District of Lisbon issued an insolvency ruling for Siavilo SGPS, as per documents available on Citius.
The ruling states: “An insolvency declaration has been made for the debtor: Siavilo – SGPS,” adding that “the incident of insolvency qualification is not open, as there isn’t, at least for now, sufficient information for it.”
The request was submitted on July 10, and a creditors’ meeting is scheduled for today.
The insolvency request for the former TAP SGPS was anticipated, considering that Siavilo practically has no assets, shows a negative net worth exceeding one billion euros, and has witnessed the resignation of its management bodies in recent months.
As a creditor of the holding, TAP thus initiated the insolvency process.
