The judge suspends the process of recovering judicial 123 millas

The complex legal situation involving 123 Milhas gained a new chapter on Thursday (26), when the First Commercial Court of Belo Horizonte ordered the suspension of the group's judicial recovery. Lawyer Fabio Melo, from Goulart Pentido Advocados, explains that the judge ordered the procedure to be suspended until the court decides:

• the Advance observation The experience carried out to analyze the real operating conditions and documentary regularity of the companies LH – Lance Hotéis and MM Turismo & Viagens, which were included in the recall only at the beginning of October 2023;

• Who will be the judicial administrators who will carry out the recovery process, as the administrators previously appointed by the judge have been replaced by the court by interim decision.

The decision is intended to ensure legal certainty and that the process will only resume when there is certainty about the feasibility of continuing recovery for Lance and MM and also about who will be the judicial managers who will assist the judge in the judicial recovery.

“With the definition, it will be possible to proceed linearly in the process with conviction regarding the debtors who will actually be part of the judicial collection, as well as alignment with the judicial official in the way in which the work is carried out, in particular with regard to the schedule and other necessary measures, thus avoiding “With actions that may ultimately be reversed as a result of appeals,” says the lawyer.

123Milhas's application for judicial recovery was accepted in the First Commercial Court of the Province of Belo Horizonte, in the following half of last year. The company revealed in the petition that it has debts of more than R$2.3 billion. In the first six months of last year alone, the travel agency incurred a net loss of R$1.671 billion. In the same period of 2022, losses amounted to R$13,134 million. The company also informed the court that it is responding to 16,600 lawsuits filed by individuals for varying amounts. These measures total R$231.8 million, the largest of which is R$1.2 million.

Initially, the operation was approved, but Banco do Brasil appealed on the need for a preliminary expert opinion, which was determined by the rapporteur. “Shortly thereafter, a new request for judicial recovery came from Lance and MM Turismo, bearing in mind that the rapporteur had set a prior finding, and the primary judge anticipated the request for a new prior finding and consolidation of the recovery of the five companies in the “group – 123Milhas, Novum and Art Viagens.” And Lance and MM Turismo,” explains lawyer Gabriel de Brito Silva, who specializes in business law and represents one of the creditors.

According to him, there are two distinct initial examinations. The first was with the initial three companies (123 Miles, Novus and Art Viagines), which were accepted by the rapporteur. “With respect to the other 2 [Lance e MM]However, this result has not yet received a scheduled order to continue their recovery.” As a result, the trial court ruled that, since there was no determination to proceed with the latter two, there was no way to proceed with the first two.