Argentina: SanCor liquidation resumes as Kirchner asset seizures are upheld

The Argentine judiciary has issued several significant rulings regarding major corporate and political legal matters.

In the dairy sector, the Chamber of Appeals of Rafaela has unblocked the bidding process for the assets of the bankrupt cooperative SanCor. The court rejected attempts to annul the sale process but introduced modifications to the terms. The liquidation includes six industrial plants and a portfolio of brands, with a minimum base value of USD 52.1 million. Bidders will now have the option to pay in Argentine pesos at the official exchange rate, and the court mandated a more rigorous evaluation grid to compare integral versus partial sales to maximize creditor recovery.

In legal proceedings involving the Kirchner family, the Federal Chamber of Criminal Cassation rejected an appeal by Máximo and Florencia Kirchner. This decision upholds the preventive seizure of 13 properties linked to Los Sauces and Hotesur companies, including a key apartment in Buenos Aires. These measures are part of the asset forfeiture stage following convictions in the Vialidad case, aimed at preserving assets for potential final confiscation.

Separately, the poultry company Granja Tres Arroyos has formally declared a state of insolvency in commercial court. The firm reported a liability of approximately 536,000 million pesos (roughly USD 350 million) and noted significant debt from rejected checks, affecting over 4,800 creditors.