GYM S.A. (now Cumbra Perú S.A.) is one of the largest companies in Peru dedicated to the execution of projects for the construction of infrastructure, energy, buildings, mining, among others. This company maintains a large debt with our client KAEFER KOSTEC S.A. for the execution of services that our client has provided in the development of certain projects.
In this regard, we take notice that a new investor had entered the company from Brazil, putting up strong capital, so given the projections it had, it would not be convenient for the company to enter into a bankruptcy proceeding.
Consequently, we proposed to the client the strategy of submitting a request to initiate bankruptcy proceedings, in order to deal with immediate payment, or at least a payment agreement, since GYM refused to grant guarantees or sign any agreement. The procedure concluded and we obtained the acknowledgment of debt of a part of the amount owed, which allowed us to make a part of the collection to Cumbra Perú S.A.
Regarding the outstanding amounts owed, KAEFER filed a new request for the initiation of bankruptcy proceedings, basing its request on new evidence that would allow collection. In the first instance, the authority denied the request, stating that there was no sufficient evidence to prove the existence of the debt. However, an appeal was filed against this decision before the higher administrative instance and an outstanding result was obtained for the client, since the entity determined that the debt did exist and ordered the initiation of the bankruptcy proceeding. This decision determined that CUMBRA proceeded to make the payment to KAEFER and the company was satisfied with the payment of all its outstanding debts with the legal strategy proposed.
