Former Brazilian auto parts manufacturer Proema Automotiva SA has sought US bankruptcy court recognition of its foreign liquidation and authority to probe transfers routed through New York banks.
The Proema Group foreign administrator is seeking to recover assets allegedly hidden by the Paparoni family through a series of shell companies in the US, Europe, and Brazil, according to a Chapter 15 petition filed Dec. 31 in the US Bankruptcy Court for the Southern District of New York.
The company made auto parts, accessories, and precision gears since 1965 and but stopped operating around 2014 amid a larger crisis in the ...
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