OCA obtained oxygen from the Justice to be able to pay salaries and continue operating

There is no evil that lasts 100 years, at least not for OCA. The country’s largest private postal company has just obtained the Justice of the Oxygen to continue operating, while continuing with the formalities to formalize its competition of creditors, which began in mid-May, amid a stifling financial situation that was subsequently shot That the Federal Administration of Public Revenue (AFIP) made embargoes for hundreds of millions of pesos.

As confirmed to LA NACION in Cangueiro Ruiz Abogados, the study sponsoring OCA, Civil and Commercial Court No. 10 of Lomas de Zamora decided last week to initiate a precautionary measure presented by the company to be lifted. Embargoes and to be able to operate, while it finishes to solve in the Justice the question of the contest.

In other words, OCA will be able to dispose of the money that until now had been seized in bank accounts to pay salaries, social security, post-bankruptcy debt with the AFIP and, in addition, to cover the operational needs of the business. All, however, under the tutelage of the judge, who must render accounts of all his expenses.

“It’s a great achievement,” said study partner Marcelo Ruiz. “The judge has given rise to precautionary measures for the company to continue operating: it lifts the embargoes in the interests of the viability of the company, taking into account the number of employees and the operational viability needs. As the benefit of the contest, “said OCA’s lawyer.

Important step

The company that presides Patricio Farcuh would thus manage to overcome a serious inconvenience that had been presented to him in the Justice when it began with the procedures to approve the contest of creditors that had initiated the 17 of last May. And given that until now he had not been able to define whether to open his creditors’ contest in a court of the Federal Capital or in one of the province of Buenos Aires.

OCA had initially started with paperwork in the city. Although his legal domicile is in the Lomas de Zamora party, the company claimed that all of its operations – facilities, tax domicile, employees – were in the city of Buenos Aires. However, the proposal was rejected by a judge of first instance, then even reconfirmed by the Chamber of Civil and Commercial Appeals.

Hence, the file has gone to the hands of a court in the province of Buenos Aires. Contrary to what the judge of the city had solved, the judge of Lomas de Zamora resolved last week that the domicile of the company is in the Federal Capital. And while the dispute was resolved by competition of the contest, it gave rise to the precautionary measures raised by the postal company. “It supports our position, but said that because of the competition debate you can not neglect the real need of the company,” Ruiz explained.

Official concern

The situation of OCA has been closely followed by the national government, which is especially worried about the impact of the bankruptcy of the company that today employs more than 7000 workers of the truckers’ union, headed by Hugo Moyano.

Near Mauricio Macri, however, had long ago ruled out the possibility of offering the company some sort of financial life-saver.

The AFIP charged Farcuh with tax evasion and claimed more than $ 4 billion. Strictly speaking, these are deductions not entered or deposited outside the legal term corresponding to Gains and VAT, in addition to the retention of contributions corresponding to personnel in dependency relationship over several months of 2016.

In the middle of a financial crisis and without even funds to cover the monthly salaries of its workers, the company was virtually in charge of men close to the truck leader for several months. Farcuh even denounced during that time that he was not allowed to enter his company to advance the contest.

Only in May, by force and with an operative of the Gendarmerie, the eccentric owner of OCA, who during the Kirchnerism bragged to bring the country to former French President Nicolas Sarkozy (and to be his friend), to lecture with the prize Nobel Prize for Economics Joseph Stiglitz and even to finance the millionaire arrangement of the metal sculpture Floralis Generica, which stands at the United Nations Square in Palermo, managed to take over the reins of his company. A few days later, he presented himself in competition.

Key dates in the evolution of the company

2013: The Rhuo Group, chaired by Patricio Farcuh, buys OCA from the Advent fund. From the beginning, the employer was linked with union leader Hugo Moyano

May 2016: OCA’s financial problems begin. The AFIP denounces it criminally, and its owner, Patricio Farcuh, for tax evasion. The company manages to enter into the moratorium it launched

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