Hostile Creditor Plans to Take Vicentin Case to Highest Court

Commodities SA, a grains brokerage that’s a unit of Grupo Grassi, plans to appeal a Wednesday court ruling that paves the way for soy exporter Vicentin to exit bankruptcy via a takeover led by Viterra-Bunge, grupo CEO Mariano Grassi said in text messages to Bloomberg News.

• He said Commodities will appeal the ruling to the Supreme Court of Santa Fe Province
• NOTE: Grassi, one of Vicentin’s biggest commercial creditors, is owed about $50m
  • The company has spearheaded efforts to block Vicentin’s rescue plan, which features a severe debt restructuring and the Viterra-Bunge takeover, and it has proposed to take ...