Sérvulo advises on seizure of Andrade Gutierrez’s stake in Zagope

Sérvulo & Associados advised Dunfield Holdings, a creditor of the Brazilian construction group Andrade Gutierrez, in the court proceedings that ordered the seizure of the shares held by the company in the share capital of the Portuguese firm Zagope. The court also ordered the seizure of future dividends to which Andrade Gutierrez would have been entitled.

The court found that Andrade Gutierrez had acknowledged its inability to settle the debt; that no assets of Andrade Gutierrez are known; and that the company shows signs of financial distress, as reflected in its global credit default rating, which places it at a “very high” risk of default. The court concluded that there is a clear risk of losing the guarantee of payment.

Led by João Saúde (pictured), partner in the litigation department, the Sérvulo & Associados team included Alexandra Valpaços (partner), João Carmona Dias (partner), Maria Novo Baptista (senior associate), and Maria Luísa Esgaib Borges (associate).