Creditors reject new recovery plan and approve liquidation of Boavista SAD

Creditors of Boavista SAD rejected a new judicial recovery plan for the sports company in the vote held this Thursday. The recovery proposal did not obtain the necessary votes to be approved by the creditors gathered in assembly. This decision marks a new episode in the long struggle of Boavista's SAD to avoid liquidation. The creditors' assembly ultimately decided in favor of the company's liquidation, putting an end to the recovery process. The Boavista football club, one of the historical clubs of Portuguese football, thus sees its SAD proceed to liquidation, which will have significant consequences for the sporting and financial structure of the institution. The decision made this Thursday represents the outcome of a process that had been dragging on for some time, with multiple attempts to find a solution for the financial situation of the SAD.