Justice Temporarily Halts Assembly Convened for Monday Due to Complaint Filed by Marcelo Moretti of San Lorenzo
Argentine Football Club San Lorenzo Faces Bankruptcy Threat
In a shocking turn of events, Club Atlético San Lorenzo de Almagro, one of Argentina's most storied football clubs, finds itself on the brink of bankruptcy. The Commercial Court No. 22, Secretariat No. 44, granted the bankruptcy petition presented by AIS Investment Fund against the club.
The petition was based on the non-compliance of Article 59 of San Lorenzo's Statute, which requires at least 5 days to convene an extraordinary assembly. The club must now prove that it is not in a state of insolvency denounced.
The ruling orders the institution to urgently prove its financial stability to avoid compromising its continuity. The interim leadership has only five days to reach an agreement with the demanding fund and avoid bankruptcy. If San Lorenzo does not comply, bankruptcy may be decreed for "cessation of payments", in accordance with what is established in article 84 of the Bankruptcy and Insolvency Law.
The club is given a maximum period of five business days from notification of the physical cedula to present evidence, defend itself, and negotiate with the plaintiff fund. The extraordinary assembly of San Lorenzo, scheduled for Monday at 6:30 PM at the Nuevo Gasometer, has been suspended due to a resource presented by Marcelo Moretti.
San Lorenzo's delicate institutional and economic situation has led to this bankruptcy petition being advanced in Justice. The club is currently in a state of political crisis, marked by the lack of clear leadership, and faces serious financial difficulties.
Marcelo Moretti presented a resource to the Justice, resulting in the suspension of the Assembly convened for Monday. The search results do not provide information about the specific time frame in which the court required San Lorenzo to present evidence and defense positions.
The ruling is a significant blow to the club, which has a rich history in Argentine football. The interim leadership now has a short window of opportunity to avoid a historic and devastating outcome for San Lorenzo. The club's future hangs in the balance as it navigates these challenging times.
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