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Argentina Court Accepts Soy Giant’s Bankruptcy Request (1)

March 6, 2020, 9:59 PM

Santa Fe provincial Judge Fabian Lorenzini accepts a request by soy exporter Vicentin SAIC to proceed with Argentina’s equivalent of Chapter 11.

  • More than 2,600 creditors, mainly crop suppliers and banks, are owed 99.3b pesos (~$1.6b), according to a court ruling dated March 5
  • La Nacion and El Cronista reported the decision earlier Friday; Vicentin confirmed the reports through an external spokesman, providing a copy of the ruling dated March 5
  • NOTE: Vicentin filed for bankruptcy protection on Feb. 10
  • NOTE: Vicentin is Argentina’s biggest exporter of processed soy meal and oil
  • NOTE from Feb. 21: A Default Rocks the...

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