Azul sues former TAP holding company over €189 million debt
Azul is seeking roughly €189 million from Siavilo, the former holding company of TAP, over a 2016 bond. The claim was filed in Lisbon in March while insolvency proceedings against Siavilo continue.
Azul has filed a claim in a Lisbon court seeking nearly €189 million from Siavilo, the company once known as TAP SGPS and formerly TAP's holding company. The claim, lodged in March, concerns a €90 million bond issued in 2016, when David Neeleman held stakes in both carriers. With accrued interest, Azul is asking for about €188.985 million, according to the Lusa news agency.
Siavilo also faces insolvency proceedings. Portuguese prosecutors have argued the insolvency should be treated as non-culpable; Azul had sought a finding of culpable insolvency. No decision has been issued.
Azul says the dispute has not affected its business cooperation with TAP.
Sources
- aerotelegraph.comAzul hofft weiter, 189 Millionen Euro von früherer Tap-Holding zurückzubekommen