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São Paulo State Prosecutor’s Office calls for bankruptcy decree of Itapemirim Airline

RIO DE JANEIRO, BRAZIL - The São Paulo State Prosecutor's Office has requested that the Court block the assets of Sidnei Piva and declare the bankruptcy of Viação Itapemirim and ITA Transportes Aéreos.

The opinion, signed by the 5th Bankruptcy Prosecutor, Nilton Belli Filho, was submitted in the airline's judicial reorganization proceeding. The airline, part of the Itapemirim group, which became famous for its interstate bus service, was launched in May last year, when its bus service was threatened by bankruptcy.

The Prosecutor points out attempts to decapitalize the bus company to use its resources to . . .

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