Brazil Soy Crusher Imcopa May Sell Plants at Auction on December 4, Judge Rules

A bankruptcy court in Paraná state has scheduled an auction to sell two plants belonging to Brazilian soy processor Imcopa International SA on Dec. 4, the company said on Friday, Reuters reported. Imcopa, one of the largest non-genetically modified soy crushers in Brazil, said the sale of the plants in the towns of Araucária and Cambé was foreseen in its reorganization plan approved by creditors in 2017. In a statement, privately owned Imcopa said the ruling was handed down on Thursday by Judge Mariana Gusso. The company declined to comment further. In August, Imcopa unilaterally terminated a leasing contract with brewer Grupo Petrópolis for the two crushing plants as it was preparing to sell the assets, alleging a breach of contract. Read more