A court in Parana state overruled a preliminary ruling from September that had nullified the Grupo Seara Agroindustrial plan, lawyer Assione dos Santos, a co. adviser, said in an email.
NOTEfrom Sept 2: CHS Bid for Brazil Port Asset Faces Legal Hurdle From Bunge, Creditors
- With the new decision, the plan will be continue with “minor changes,” Santos said
- The decision upholds the sale of Seara’s grain terminals to pay debt
- NOTE: Seara filed for bankruptcy protection in 2017, and U.S. farm cooperative CHS Inc. is among the major creditors
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