With millions in debt, Chapecoense has its request for judicial reorganization approved.

The board of Chapecoense, from Santa Catarina, informed, in a press conference this Friday (4), that the club's request for judicial recovery was accepted.

“We intend, within the next 60 days, to present a payment plan and begin discussions with creditors, and by the end of the year we expect to have this situation resolved (...). Chapecoense exhausted everything it could do to try to accommodate this liability, but it reached a point where either we would go down this path or the consequences would be much more serious,” the board pointed out.

According to the press office of the Court of Justice of Santa Catarina (TJSC), the request was filed on January 24, and the approval took place this Thursday (3) in the 1st Civil Court of the district of Chapecó.

According to the team's press office, the goal of the action is "to ensure the club's continuity, both legally and financially."

The club is facing numerous civil and labor lawsuits, including requests for court-ordered asset freezes and payment orders, and is even at risk of having its membership fees blocked, according to information provided at the press conference.

Source: " With millions in debt, Chapecoense has its request for judicial reorganization approved ". CNN Brazil. Accessed on 03/10/2022. To access the website click here.