he Ministry of Finance said today that Parpública will not give Inapa the funding it has requested and that it will monitor the company’s insolvency, which has already been announced.
Lusa contacted the Ministry of Finance today after Inapa announced its insolvency on Sunday night due to lack of funds. The company said that it had made “every effort in good time” with creditors and shareholders, in particular the largest shareholder, the public company Parpública, to avoid the insolvency of the German subsidiary but that without this it will file for insolvency in the next few days.
In response to Lusa, the Ministry of Finance said that it only found out about the “critical situation” Inapa was in on July 11 (when the shares were suspended) and that it was then that it called Parpública, which explained that Inapa had requested an injection of 12 million euros for immediate cash needs in the German operation when it already had a request for 15 million euros for restructuring.
In view of this information, opinions were requested from Parpública, the Directorate-General for Treasury and Finance (DGTF) and the Technical Unit for Monitoring the Public Business Sector (UTAM), with the Finance Department stating that the three entities concluded that “the proposal did not meet solid conditions, nor did it demonstrate the economic and financial viability that would guarantee reimbursement of the State”.
