Santa Cruz is seeking judicial reorganization to avoid an auction of Arruda

(Photo: Rafael Vieira/DP Photo)“title=”(Photo: Rafael Vieira/DP Photo)“/>

To avoid bankruptcy and suspend the auction of Arruda, its largest physical asset, Santa Cruz filed for legal relief in the 9th Civil Court of Recife County. According to the official letter, the club is requesting early guardianship. The auction was supposed to take place this Thursday (22).

“I dare to say that 21/09/2022 is, after 02/03/1914, the most important day in the history of this club,” said lawyer Lucas Valencia, who is in charge of the case, referring to the foundation date of the club. Santa.

The attempt at legal recovery, as advanced in the report, is one of the axes of the extraordinary commission for studies and feasibility of the SAF, which aims to implement the Clube-Empresa in Mais Querido.

“The second axis (three in total) talks about obligations, the doubts that the club has in practice. For many, this is essential for the progress of the process, for correcting these obligations. In this section, we will analyze the taxation of a governance model, said Fred Ribeiro, the president of the commission.

The executive power, represented by Antonio Luiz Neto, issued an official note explaining the case.

Check out the full note

With the intention of another step in its restructuring process, Santa Cruz Football Club submitted, on September 21, 2022, a request for judicial reorganization, in the Recife/PE area.

Faced with the difficulties of recent years, exacerbated by the relegation to Serie D of the Brazilian championship, Santa Cruz has submitted the current judicial restructuring as a way to deal with its liabilities, which have accumulated in recent years.

The step will not be isolated and is combined with a number of other actions that are studied and adopted in order to professionalize the club and allow its renewal for the elite of national football.

The Board of Directors reaffirms its commitment to take care of all its creditors, now in a judicial recovery environment, in order to enable collective bargaining and the performance of all its obligations.

The club is optimistic about this step, aware of the difficulties, but with the same commitment to overcome the crisis and return to the glory days. At this moment, the board renews its deep respect for the passionate fans of the tricolor, in the certainty that they will, once again, be present in this struggle for the restoration and permanent construction of the club’s century history.

Recife, September 22, 2022

Antonio Luiz Neto

president

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