Technology company Decsis, based in Évora, has filed for bankruptcy, awaiting a court decision, due to severe financial difficulties caused by its association with the ‘Operation Nexus’ by the Judicial Police (PJ), the administration revealed today.
In response to questions posed by the Lusa news agency via email, the administration of Decsis — Sistemas de Informação indicated that the police operation conducted in July had an immediate impact on the company, even though it is not the target of the investigation.
“Operation Nexus raised the credit risk of Decsis to the maximum level, causing banks to cut all credit lines,” stated the administration, adding that this created serious treasury problems for the company.
According to the company, businesses associated with the ‘Grupo Decsis’ also suffered severe reputational damage due to media exposure, resulting in difficulties generating sustainable future cash flows.
“Thus, the administration acknowledges a legal obligation to request the company’s bankruptcy,” it emphasized.
What happened with Operation Nexus?
PJ’s Operation Nexus, conducted on July 8 this year, investigates alleged crimes of corruption and fraud in the acquisition of computer systems for universities and public schools funded by the Recovery and Resilience Plan (PRR).
On the day of the operation, the PJ announced the arrest of six individuals, specifically an administrator and three employees of a technology company, an employee of a concession company, and a public employee.
Last week, Eco newspaper reported that one of the companies targeted in this operation is Decunify, which presents itself on its website as “a company of the Grupo Decsis” and was declared bankrupt in court at the end of August.
July and August salaries delayed
In its response to Lusa, Decsis — Sistemas de Informação highlighted that its bankruptcy filing, submitted to the Court of Évora on August 5, is still pending a decision and aims to “restore the situation prior to ‘Operation Nexus,’ including the trust and credit lines that were approved meanwhile.”
Despite the bankruptcy filing, the company stressed that it continues to operate, as does the Data Center located in Évora, which “provides critical services to several public and private sector clients.”
“All services forming part of Decsis’s offerings are being delivered. Contracts with municipal councils, the intermunicipal community, and various clients from diverse sectors are being fulfilled,” it specified.
However, the company faces “some difficulties resulting from non-payment of salaries,” the administration acknowledged, hoping this issue can be “resolved at any moment.”
Decsis, with a revenue of about 15 million euros in Portugal, employs approximately 100 workers and another 100 under contract, according to the administration.
All these employees, the company admitted, are with delayed wages for July and August.
