In a note, Botafogo says it has reached an agreement to resolve the historical debts

Glorious announces this Friday evening (17) that it has a new consensus proposal with representatives of labor creditors and Sindeclubes

Botafogo announced on Friday evening (17) that it had reached a consensus with representatives of labor creditors, the Union of Clubs (Sindeclubes) in relation to the basis of a new proposal to advance labor debts. The proposal will be presented next week.

According to Alvinegro, the negotiations were conducted by the general manager of SAF, Thairo Arruda, the director of Eagle Holding, Danilo Caixeiro and the general legal manager of SAF, Jonas Marmello, with the following lawyers representing the creditors’ committee: Leonardo Laporta, Bichara Neto, Carlos Moutinho and Teotonio Chermont. Henrique Fragoso represented the Union of Employees in Clubs (Sindeclubes).

According to Alvinegro, the proposal formulated “will be advantageous for both parties, with a discount for creditors”. Other mechanisms are in place to settle club liabilities, such as overtime dues.

The new format, according to Botafogo, “will grant greater predictability to creditors regarding payments and ensure the long-awaited efficiency in the treatment of the club’s historical liabilities, as well as serve as a point of reference for other SAFs that are emerging in Brazilian football ” .

Glorioso’s new proposal will be submitted for analysis by the Labor Tribunal and still needs approval and approval to move forward. The parties are optimistic that the historical work liabilities will be resolved.

The director general of the SAF has been adamant about how relevant this negotiation is for Botafogo to follow up on its planning.

“This historic settlement restores SAF’s financial strength and comforts creditors and Clube Social. I would like to thank all creditor representatives for their professional dealings and reiterate majority shareholder John Textor’s commitment to Botafogo in settling the debts of the Social Club”.

SAF’s chief legal officer, Jonas Marmello, also appreciated the way everyone tried to reach consensus.

“The negotiations with the Creditors’ Committee and the Union demonstrate Botafogo’s intention to contribute to the football ecosystem and the improvement of the SAF law from all sides, effectively and expeditiously, and establish a framework for the SAF.”

View the full press release

Botafogo, the representatives of labor creditors and the Union of Clubs (Sindeclubes) reached a consensus this Friday (17) on the basis of a new proposal for the forwarding of labor debts, which will be presented to the Labor Court the next week.

The negotiations were led by SAF General Manager Thairo Arruda, Eagle Holding Director Danilo Caixeiro and SAF General Counsel Jonas Marmello with the following lawyers representing the creditors’ committee: Leonardo Laporta, Bichara Neto, Carlos Moutinho and Theotonio chermont. Henrique Fragoso represented the Union of Employees in Clubs (Sindeclubes).

The new settlement proposal will be beneficial to both parties, with a discount for creditors. Other mechanisms are envisaged to speed up the exemption, such as the possibility of extraordinary contributions. The new format will provide creditors with greater predictability regarding payments and ensure the long-awaited efficiency in dealing with the club’s historical liabilities, as well as serve as a point of reference for other SAFs that are emerging in Brazilian football.

The proposal will be submitted for consideration by the Labor Tribunal next week and will depend on its approval and ratification. Botafogo, creditors and Sindeclubes are confident the proposal will be effective in resolving historical labor liabilities.

“This historic settlement restores SAF’s financial strength and comforts creditors and Clube Social. I would like to thank all creditor representatives for their professional dealings and reiterate majority shareholder John Textor’s commitment to Botafogo in settling the debts of the Social Club”, underlined the Director General of SAF Thairo Arruda.

“The negotiations with the Creditors’ Committee and the Union demonstrate Botafogo’s intention to contribute to the football ecosystem and the improvement of the SAF law from all sides, effectively and expeditiously, and establish a framework for the SAF,” added Jonas, general counsel at SAF. Marmelade.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.