A fateful event that is likely to have a new negative impact on the two brothers. I kept my distance for decades. When everything seems to indicate that Francisco de Narváez may remain with Carrefour’s Argentina subsidiary Another obstacle has arisen that complicates the chain’s sales. And it is related to the bankruptcy of his brother Carlos, which involves Carrefour’s assets and promises. The amount is expected to be USD 100 million.
This is due to multi-million dollar claims filed by trusts established within the framework of preventive bankruptcy. Carlos de Narváez’s company, Rivera Desarrollos; Macri was ousted in 2018 amid a crisis when he was unable to repay his debts.
The company filed for bankruptcy in 2019. That bankruptcy was approved in 2022, where a judge gave the go-ahead. That trust will be rewarded Number of creditors of Rivera Desarrollos with structure it suggests Part of the Carrefour Hypermarket site in Vicente López.
This argument focuses on the tower. it was never built, The value is 100 million USD. Banks are reeling among the victims Hippotecario, HSBC, Mercantile Andina and Marcelo Mindlin from the Pampas.
De Narváez tried to negotiate a deal with the company that owned Argentina’s Carrefour for future space, especially a garage, on the Vicente López property. He submitted it to the court for approximately $13 million in compensation, but that intention was rejected.
the judge understood that it was necessary Enter into a contract with the trust creditor This is paid for the unit, garage, terrace and construction space.
The iconic venture of developer Carlos de Narváez, known as to the rivercould only be partially completed. There were other victims, including the Cohen Group, which carried out the incident. Criminal charges.
This judicial procedure is also imposed on Carrefour; Why Chilean group Cencosud’s door slammed shut A person who has withdrawn from coercion. Experts who asked not to be mentioned say the judicial argument breaks new ground. “It could impact both price and sales timing.”
Another source explained in a voiceover: clarion The trust’s claim against Carrefour is for its inability to proceed with construction of the tower as planned in the bankruptcy plan. And that’s worth $100 million. It does not automatically block the operation and is a risk factor It is an important factor that bidders must consider in their valuation analysis. ”
Rivera Desarrollos filed for preventive bankruptcy in February 2019, prior to the commencement of bankruptcy proceedings. National Commercial Court No. 12a debt estimated at the time to be approximately $120 million. The agreement approved in 2022 provided that a portion of payments to certain creditors would be made through a trust that would receive buildable square meters, land and commercial units from Vicente López’s “Al Rio” project.
Incidentally, this trust, created through bankruptcy, represents the unity of Carlos de Narváez’s creditors.
Meanwhile, in Massy, 15 kilometers from Paris, French executives who commissioned Deutsche Bank to carry out the work continue to consider proposals. In addition to powerful foreign investment funds, bidders include Coto, the aforementioned Francisco de Narváez, and current Walmart buyer Chango Mas.
Along the way, in addition to the Chilean group Cencosud, The Brown family, owners of La Anonyma, were left behind. People who expressed interest and accessed the information, but declined to make an offer. From what I’ve been told, he’ll lean towards: Shopping at Toledo Supermarket in Mar del Plata. he also regretted it Inverratan investment fund that owns Havana, said retail is a very complex business,
Carrefour was founded in 1959 by the Fournier and Deforet families. A few years later, in 1963, they invented the concept of the hypermarket, a format they aimed to conquer the world. It is listed on the Paris Stock Exchange, and its main shareholders include France’s Moulin family. Arab group Majid Al Futtaimin charge of business in Africa, the Middle East, and Asia.
Argentina subsidiary Orria prices 1 billion dollars. 17,000 employees Some worry that it will become a company that is difficult to govern.
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