CL-2025-000376 - [2025] EWHC 2875 (Comm)

The Rio Alto Group (including RAE) is undergoing a reorganisation (i.e. a restructuring) process. In anticipation of the reorganisation process, the Rio Alto Group applied to the Brazilian court for the suspension of enforcement actions against it. By an order dated 25 February 2025, the Brazilian court ordered “the suspension of all actions, executions and acts of constraint against the Plaintiffs, for credits subject to recovery and submitted to mediation…” (the “Suspension Order”).

The Rio Alto Group has since filed a reorganisation plan (the “Reorganisation Plan”) which is subject to the approval of the Brazilian court. The Reorganisation Plan involves the restructuring of the Group’s debts and is predicated on the sale of parts of the business to a third party. However, as explained below, the potential buyer of the Rio Alto Group has recently withdrawn its interest.