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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.