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Nueva Vicentin Pays 664 Creditors as Court-Backed Cramdown Enters Execution

The first disbursements under the court-approved rescue follow December’s transfer of Vicentin to Grupo Grassi.

Overview

  • A total of 664 creditors in categories A2 and A3 received initial advances of up to US$25,000, with remaining claimants in those groups now being processed.
  • Category A2 allows repayment via delivery of 200 tons of soy per US$1,000 owed, with an advance capped at 80% of the claim and potential recovery up to 140% plus a US$7-per-ton bonus after the advance.
  • Category A3 places credits in a trust and provides advances up to US$25,000 covering up to 50% of the claim.
  • Industrial operations are restarting with Ricardone running near full capacity at about 90,000 tons of sunflower a month, while San Lorenzo is in planned maintenance with investments underway and an initial US$30–40 million program.
  • Judicial oversight requires progress reports on February 2, February 23 and March 15, a March 16 deadline for creditor elections, and direct outreach if adhesion is below 80% by February 23.