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The decision was made this Wednesday after the club’s defaults with its creditors.
This Wednesday, the Superintendency of Companies decided to judicially liquidate the company Cúcuta Deportivo after the constant non-compliance with its creditors, commitments that the institution acquired after accepting a reorganization agreement.
“A formula was not achieved with all the creditors who were defaulted, which is why this office will proceed to decree the judicial liquidation of the bankrupt company”, the sentence in relation to the debt that the team has with the Mayor of Cúcuta and the Institute of Recreation and Sports that amounts to 1,500 million pesos.
Let us remember that José Augusto Cadena, representative and maximum shareholder of the team, requested that sum of money from Dimayor in recent days, as an advance and to catch up with his obligations.
In that text, Cadena, owner of the team, detailed the items in which he would use the money, among which the payment of salaries to the players did not appear (some are owed more than six months’ salary).
However, for this disbursement to take place, the votes in favor of the 36 presidents of the affiliated clubs were necessary, but it was learned that neither Deportes Tolima nor Cortuluá gave the yes.
It may interest you: The Cúcuta Deportivo that is no longer so glorious
But, what does it mean that Cúcuta Deportivo has entered into judicial liquidation? What has to be said is that the club is not going to end, for now. The first thing that will be done is to appoint a liquidating manager, who will be the legal representative of the company and, therefore, the one who will be in charge of its operation.
This manager will be in charge while the insolvency is overcome or, conversely, the legal partnership is liquidated, something that can take years. In addition, this person will have a direct dialogue with the creditors and a free hand to handle the money that reaches the team in order to cushion the situation (money means television rights, sale of footballers, etc.).
Now, the next step is to find that person who has experience in afloat with bankrupt companies and who cannot be close to the current owners, the municipality or be related to a close political wing of the institution.
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