Boavista FC, a club of which Gérard Lopez is the majority shareholder, formalized the submission of a Special Revitalization Plan (PER) this Tuesday, “the only alternative” to the liquidation offered by the Porto Commercial Court.
“The Board of Directors (CA) of Boavista FC, Futebol SAD hereby informs that it was notified, this Monday, November 11, by the Commercial Court of Vila Nova de Gaia, of the order of acceptance of the Special Revitalization Process (PER), which will now follow the planned legal procedures and will be developed over the coming months”announces the Portuguese formation through a press release published this Tuesday, whose leaders define the submission of a PER as being the “only alternative” with the aim of
“create the necessary conditions for the essential economic and financial restructuring of SAD, with a view to restoring its sustainability and its position on the market. »
What is a PER? The objective of a Special Revitalization Plan is to offer a company in financial difficulty or almost insolvent the chance to restart the machine through negotiations with its creditors to find an agreement favoring its revitalization (article 17.- A, n°1 of CIRE).
Boavista FC, majority owned by former LOSC president Gérard Lopez, is initiating this procedure to avoid liquidation: “Without the adoption of strict and exceptional measures, the only alternative would be to file an insolvency application, which would result in the inevitable liquidation of SAD”adds the press release.
Despite the economic situation in which Boavista FC is entangled, its sporting performances remain honorable. In the fight for their maintenance in the elite of Portuguese football, the Panteras are in fourteenth place in the ranking with one point more than the first teams present in the red zone, synonymous with relegation to the second division.
