2023-08-31 19:31:00

Update (08/31/2023) – RS

A 123Milhas had your request for judicial recovery accepted by justice. The processing was granted this Thursday (31) and the judge Caudia Helena Batistayes 1st Business Court of the District of Belo Horizonteordering the suspension of actions and executions once morest the debtors for a period of 180 days.

These debtors, in this case, are 123Milhas, HotMilhas (controlled by the travel agency) and the Novum Investimentos, which is a partner of the company. In this sense, the next step is to present a recovery plan within 60 days, under penalty of bankruptcy. An excerpt from the judgment says:

Companies under reorganization deserve to have preserved the exercise of their business activities, so that they can continue to fulfill the social function that is incumbent upon them. It has in its favor the fulfillment of the objective criteria provided for in the legislation and the presumption of good faith that its objective is to balance debts and resolve its defaulted commitments in the best possible way.

Curiosity
29 Ago

security
21 Ago

The plan therefore needs “contain measures of reparation to the universe of consumerist creditors for the damages caused throughout the national territory” according to the judge’s decision. The court also appointed a law firm in Belo Horizonte and another in Porto Alegre as judicial administrators, for “to act together and in coordination”.

Companies must publish a notice in which they show the creditors with the classification of each credit, as well as the updated value, within 10 days. Afterwards, there will be a period of 15 days for the creditors to present their divergences in relation to the detailed credits to the judicial administration.

123Milhas published a note in which it claims to be developing a plan “for fulfilling the commitments assumed with customers, former employees and suppliers“. Finally, check out other judicial recovery cases, such as Oi in the United States and Americanas, both earlier this year.

Update (08/29/2023) – by DT

123milhas filed this Tuesday (29) with a request for judicial recovery at the 1st Corporate Court of the Judicial District of Belo Horizonte, the city where the company’s headquarters are located. in action, the company admitted to Justice debts of more than R$ 2.3 billion.

In addition to 123milhas, HotMilhas, controlled by the company, and Novum, which is a partner in the travel agency, also filed the application. The companies’ defense alleges that they “are facing the worst financial crisis since their respective foundings”.

The request highlights that 123milhas uses points and miles to issue cheaper tickets. However, “in recent years, the advantages that allowed the issuance of cheaper air tickets, mainly purchases with miles, have gradually diminished”.

“123 Milhas found itself unable to issue airline tickets, travel packages and insurance purchased by customers of the Promo123 Program, especially within the contracted deadlines, which is why it decided to remove the Promo123 Program from the air and seek, through this request for Judicial Recovery, fulfill such obligations in an organized manner”, says an excerpt from the request.

judicial recovery

Judicial recovery is a measure to prevent a company in financial difficulty from closing its doors. The indebted company gets a deadline to continue operating while negotiating with creditors, all under the mediation of Justice.

All debts are frozen for 180 days and the company’s operation is maintained. In a press release, 123milhas stated that the request “aims to ensure compliance with the commitments assumed with customers, former employees and suppliers”.

economy and market
09 Fev

economy and market
19 Jan

understand the case

On August 18th, at 123miles suspended packages and the issuance of promotional tickets with shipments scheduled from September 2023which led to the opening of a series of lawsuits once morest the company by customers.

the company too carried out a massive layoff of part of its employees. 123milhas said it is returning the amounts paid by customers through vouchers, which can be exchanged for tickets, hotels and packages from the agency itself.

However, affected consumers reported that they are prevented from using the vouchers on new purchases. Lawyers claim that consumers are entitled to receive the money back, including interest correction, or demand compliance with the contract.

Original text (08/28/2023)

123milhas became the center of a scandal involving the cancellation of several tickets sold in a promotional package. Thousands of customers have sued the company, which today announced a surprise mass layoff involving dozens of employees.

security
08 Ago

rumors
08 Ago

LinkeIn is full of testimonials from former employees of 123milhas, who were taken by surprise today (28) when they were told they had been fired.

Check out some of the testimonials:

Unfortunately these are not the only ones affected. A spreadsheet organized by former employees of 123milhas already has 88 people looking for new jobs and the list keeps growing.

The company did not reveal the number of employees who left, but several testimonials mention hundreds of people.

In response, 123miles said the following:

123milhas informs that it started today, 08/28, an internal restructuring plan, with a reduction in the size of the team to adapt to the new context of the company in the market. This difficult decision is part of the measures to mitigate the effects of the sharp drop in sales. The company is working to progressively stabilize its financial condition.

The company did not specify how dismissed employees will be treated or whether they will have access to professional outplacement programs and health insurance extensions.

At the moment, 123milhas is being sued by several customers and questioned by Procon-SP for only returning the amounts paid in vouchers that can be used in the company itself, which goes once morest the Consumer Defense Code.

Finally, HotMilhas, which belongs to the same group as 123milhas, also announced the suspension of trading air miles, having suspended the shopping service on its platform, which now displays the above message on the homepage.

Hotmilhas informs that, due to a sharp drop in sales by its parent company, to 123milhas, it delayed the payment to customers scheduled for 08/25 and temporarily suspended the miles purchase service on its platform. The company is making every possible effort to regularize the situation and honor the commitments made. Hotmilhas is a reference in the market and hopes to have the trust of its customers to overcome this situation.

As we can read above, payment to customers, scheduled for last Friday (25), was also delayed. If 123milhas does not return the amounts appropriately to its users, it can be fined R$ 13 million by Senacon (National Consumer Secretariat) and Procon-SP.

1693534892
#Case #123Milhas #request #judicial #recovery #company #accepted #Justice