The 5th Business Court of Rio de Janeiro declared this Monday the bankruptcy of Refinaria de Manguinhos (Refit). The decision was made by Acting Judge Arthur Eduardo Magalhães Ferreira, who included in the proceedings the companies Gasdiesel Serviços, MG Distribuidora, Manguinhos Química, and Refinaria de Petróleos Manguinhos.
The state government had previously requested the conversion of Grupo Manguinhos' judicial recovery into bankruptcy. The state's argument is that the company lost economic viability and failed to comply with basic requirements to remain in the judicial recovery process.
According to data from the Ministry of Finance, the group's debts exceed R$ 52 billion, with more than R$ 25.7 billion in tax liabilities alone. The judicial decision indicates that, starting October 2024, the group operated with a strong reduction in billing, culminating in gross revenue of only R$ 100.3 million.
