A Brazilian court has ruled that the court-appointed administrator of the Brazilian arm of Parmalat should remain in his position, despite attempts by the company to return control to former CEO Ricardo Goncalves.
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An injunction granted at the beginning of March sought to return control of Parmalat Brasil Industria de Almintos to Goncalves, who had relinquished control in February when a Sao Paulo judge appointed Keyler Carvalho Rocha to run the company after it filed for bankruptcy, reported Reuters.
However, a new court ruling has ordered the control of the company to remain with Rocha for the time being.
“Now we’re back to where we were before the injunction, with the court-appointed management in charge,” a spokeswoman for Parmalat Brasil’s press office was quoted by Reuters as saying.
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