The latest that is known about the case of Microplay is that the Civil Court, where according to the resolution, the company has the necessary money to be able to pay its debts. Faced with this, we currently know that this Monday Microplay filed an appeal for reinstatement before the court, insisting on its bankruptcy.
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The specialized video game store argued that the denial of the settlement should be reconsidered, since it cannot pay salaries. According to what was exposed in La Tercera, the defense indicated that the financial background provided to the case, where 177 workers are counted, means “a monthly charge in remunerations that the company is unable to comply”. Adding that not proceeding with the liquidation prevents its workers from accessing the unemployment insurance.
In this insistence, the essential point for the defense is that since the Microplay stores “have stopped working as of January 5, 2023 due to the absolute impossibility of maintaining the operation” it is unable to generate the necessary flows for the payment of its obligations. That is why they have questioned the reasoning of the court in rejecting their request and have described the definition of insolvency applied as “wrong”.
“The Court indicates that there is insolvency when the sum of assets and resources is less than the amount of debts. Said definition is wrong insofar as it ignores the relevance of the existence and sufficiency of flows for the continuity of the operation; insolvency is a state that goes beyond equity imbalance,” Microplay’s defense told the court.
To clarify that, Microplay adds that the Company assets amount to $3,693,916,277while the Liabilities amount to $5,704,217,481. Affirming that “there is no reason in sight to affirm that Microplay SA is not insolvent in the terms that Law 20,720 indicates”. In the next few days it will be known how this finally concludes, so we will be aware.
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