The creditors’ assembly is scheduled for 11:00 a.m., according to a source close to the process.
The insolvency administrator has requested the court that at least the creditors vote on three points: continuation of the business activity (with or without maintaining employment contracts); cessation of business activity; and sale procedure.
In this document, the insolvency administrator, André Pais, outlines the current situation of the insolvent company TiN.
“As is widely known, the insolvent company continues its activity, under the request made by the undersigned for the postponement of the official communication of the cessation of activity to the Tax Authority, postponed until at the latest 08.10.2025,” he states, adding that “this date is merely based on the end date of the notice given to the insolvent company’s employees due to the completion of the collective dismissal communicated on 25.07.2025.”
Currently, the insolvent mass, initiated on December 4, 2024, is responsible for overdue unpaid debts, including taxes and contributions for May 2025 (approximately 51,000 euros) and June 2025 (approximately 129,000 euros).
Regarding net salaries for employees, according to the insolvency administrator, those related to July amount to about 98,000 euros and those for August about 117,000 euros.
For External Supplies and Services (FSE), the amount is about 120,000 euros.
“In terms of revenue, there is a value of approximately 60,000 euros with a very probable collection,” André Pais notes.
Among the proposals presented, “some creditors involved in this case have advocated for maintaining the insolvent business in operation until its sale, keeping the existing staff (as indicated by the Social Security Institute and the Tax Authority).”
The same creditors, the insolvency administrator notes, “suggested that the sale of the business in operation should be completed as quickly as possible through an electronic auction, but preceded by an evaluation of the business value conducted by an independent expert.”
In a somewhat similar situation, “a group of the insolvent company’s workers (associated with the magazine Visão) came forward advocating for the continued operation of their magazine within the insolvent entity and even proposed a purchase value (as a base or starting point),” the administrator continues.
Regarding the liquidation process, “it is identified that public creditors advocate for the prior evaluation of the business and its sale through electronic auction while keeping it operational.”
So far, “the only quantified proposal is the one previously presented by that group of workers linked to the magazine Visão,” with “a similar intention already expressed by the director of Jornal de Letras, although the proposal has not been quantified,” the insolvency administrator adds.
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