On 20 February A-ETPL, Associação – Port Work Company of Lisbon announced that it had been notified of the decision to declare its insolvency and the appointment of the insolvency administrator.
Among the effects of the judgment now known, A-ETPL points out that the powers of administration and disposition of assets belong to the insolvency practitioner and are considered “seized, for delivery to the insolvency practitioner, all the elements of accounting and all company assets.”
It also points out that “the debtors of A-ETPL will now have to make all the instalments to which they are obliged directly to the insolvency practitioner”.