Groundforce owes €155 million to around 3,000 creditors
At the top of the list of creditors is TAP, which is also a shareholder, as well as the airport manager ANA, the insurer Fidelidade and the workers.
Groundforce owes about €155 million to around 3,000 entities and people. This is the amount that will be at the centre of the meeting of creditors of the handling company, which will take place next Wednesday at the Monsanto courthouse, reports Público.
At the top of the list is TAP, which is also a shareholder and triggered the insolvency process, as well as airport manager ANA, insurer Fidelidade and the workers, due to “effective and conditional credits”, such as annuities, according to the Workers’ Commission. These three companies are also part of the creditors’ committee.
The insolvency managers argue Groundforce should continue in business, and the sale of assets to TAP is also being analysed, the same newspaper said. The administrators recognise the need for a recovery plan, which may even be presented by the administrators themselves.
