On Tuesday, the club was notified by the courts and must settle its debt with the Swiss fund AIS Investment Fund within five days to avoid ruin.
Now then, what does it mean to go bankrupt? The club emphasizes that for this to be declared, there must be a cessation of payments, that is, a situation in which the institution’s assets are insufficient to regularly meet its obligations.
For now, the Ciclón is not in that scenario: its employees continue to receive their salaries, despite the delicate economic situation and some delays with the professional squad.
And what does bankruptcy entail? Once declared, the courts appoint a trustee in charge of managing its finances. This figure takes control of the institution’s assets and income,…