Rivals attempt to overthrow Hobby Harry’s censorship after billionaire deal

Shareholders meeting scheduled for Wednesday (3) to decide the future of the largest shareholders Amusement park From São Paulo and one of the largest in the country, the Hobi Harry – in a vineyard – It can cause so much confusion that it stops at the police station and in court.

In a turnaround in the business world, the owners of the park, which is still undergoing judicial reorganization, announced an agreement to contribute $1 billion to the upkeep of the complex. A rival group runs parks like Beto Carrero and yes Monica (In shopping malls) He entered the race at the last minute, without a license, and even tries to interfere within BNDES – Hobby Harry’s biggest creditor, to upset the plan, and accuse the current owners.

The current observer had already submitted to the Development Bank a proposal to renegotiate the debt, which was to the satisfaction of the directors. Which will be put to a vote on Wednesday.

What is expected of a simple assembly to vote may end up in the courts and harm the park’s day-to-day running. According to the owners of Huobi, the rival group aims to disrupt what has already been well served in the agreement with creditors, jeopardizing the employment of 1,200 people and the operation of the entertainment complex.

What drives the competitors on the tracks of this rollercoaster is the unveiling of an agreement between Hopi Hari and Whitehall & Company LLC involving US$500 million – approximately R$2.8 billion. The amount guarantees coverage for creditors such as BNDES and new investments in the complex, which receives more than 26,000 people per month.

Grandma landed on the offices of BNDES and other creditors as a respite in time to save the park’s run – and more, to give her a breath to carry on without a hitch. This infuriated the competition, which will now present to the association a purchase proposal on its terms. Read below the official note released by Hobi Hari:

_ On the proposal revealed by the press, we once again reiterate that Hobi Hari welcomes any and all partnership and investment proposals for the growth of the park, however, based on a prior legal analysis, we advance:

a) The self-described group of investors submitted an “alternative payment plan proposal”. This group was formed mainly by representatives of the same field of activity as the companies under reorganization, some of which are direct competitors to them, raising doubts about their true intentions by presenting this “proposal”;

b) the movement was organized on the eve of the meeting of the International Trade Commission, which feared that it was an attempt to destabilize the process, which could harm the enterprise and its creditors;

c) The apparent lack of legitimacy of the Investors Group to present the said alternative payment proposal, as none of the companies that make up the group appear on records as the claimant subject to the current reorganization, and for this reason, therefore, it is not even possible to participate in the AGC in progress actually ;

d) It should be noted that the subject of an alternative proposal by the creditor was already the subject of a court decision in the case records, that is, not even the creditors themselves could make an alternative proposal, such as could a third party, knowing nothing or little about the process, not It never appears in the records and you have no legitimate interest in judicial reorganization, do you have that privilege?

e) There is clearly no legal possibility to consider the so-called “alternative payment plan proposal,” and it is up to the creditors to decide on the Fourth Amendment Judicial Reorganization Plan, determining the fate of businesses, jobs and their credits.
He concludes that the last-minute proposal, drafted by those who have no transparent interests, because they are contenders, and also formulated under conditions that allow it to be withdrawn at any time, is an element to disrupt the process and, worse, affect the decision.

Hobi Hari affirms its commitment to working transparently and responsibly with its creditors and affirms that the goal guiding its business is to protect its creditors, through the continuity of its activities – thanks to the unity and strength of its team, and to generate wealth in order to pay its obligations and maintain the functions directly and indirectly related to its activities.

Management expects, at the conclusion of the General Assembly, to move forward structurally and decisively at this important stage of the recovery process, towards expanding the park’s growth and investment plan.

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