The outgoing administration of Globalgarve – Cooperation and Development SA, constituted by the shareholders Calçada Correia II Lda., ACRAL and CEAL, promotes on the 7th of November, Friday, at 17 pm, in the Algarve Tourism Region, a conference of press destined to "provide the necessary clarifications" due to the non-approval of the Reorganization Plan and the judicial declaration of insolvency of that Public Limited Company.
The outgoing administration also intends to clarify "public opinion on the measures it took to make Globalgarve viable, which, in its opinion, were fully justified to safeguard the company's assets and the interests of the region and the Algarve."
The outgoing administration also understands that it is necessary "a complete clarification of the destination that will be given to the fiber optic network owned by Globalgarve and which was largely financed by money from national and community programs, an investment made with public money".
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