(Finance) – Bioeraa company listed on Euonext Milan and active in the production and distribution of organic and natural products, announced that the Court of Milan (civil section II) has declared with a sentence the judicial liquidation of the companyappointing the lawyer. Corrado Camisasca – former commissioner of the approval procedure – as liquidator.
The sentence has Bioera’s request was therefore rejected to obtain a deadline pursuant to art. 58 CCII to realign the plan and the certification as well as the consent pursuant to art. 58 paragraph 1 CCII and this due to the failure (i) of the investor Hara Immobiliare to fulfill the obligations undertaken with the investment agreement stipulated on 18 April 2024 and (ii) of the guarantor Visenta Insurance Company to pay upon simple written request the foreclosed guarantee equal to 3,600,000 euros.
The company specifies that, on December 3, 2024Bioera had signed a settlement agreement with Visenta concerning the payment of 3,200,000 euros, according to the following terms: 100,000 no later than 4 December 2024 (amount already repaid); 100,000 no later than December 5, 2024; 100,000 no later than 12.16.2024; 100,000 no later than 30.12.2024; 100,000 per month starting from the 15th of each month starting from January 2025 and until December 2025 for a total of 1,200,000; 2,000,000 by 31.1.2026.
The Visenta settlement agreement also provides for theVisenta’s commitment to release the company(s) by January 15, 2025a stand by letter of credit from a foreign banking institution which will be sent to an Italian banking institution, indicated by Bioera, via the swift circuit, or (ii) where it has not been possible to issue this letter by the aforementioned date, a surety guarantee for the fulfillment of the obligation deriving from the aforementioned private agreement.
In consideration of the signing of the Visenta Settlement Agreement and the payment of the first installment (occurred after the last hearing of the approval judgment) of which the Court could not have been aware at the time of issuing the sentence (which, at this stage, there is no prospect of bankruptcy), the company is evaluating whether to lodge a complaint against the sentence, before the Court of Appeal of Milan, also for the benefit of small savers.