THE Gaia Commercial Court today suspended for 30 days the closure of Boavista’s activity, scheduled for October 31st, following a request from the club and creditors, making authorization conditional on the payment of current expenses.
In the decision, to which Lusa had access, the Commercial Court of Vila Nova de Gaia, considers that “nothing prevents” the suspension, since the request was presented by Boavista and creditors who hold more than 50% of the credits recognized in the insolvency process, without opposition from the insolvency administrator or the remaining creditors.
The request was presented by Boavista and creditors Frozenpark, Lda., Merecida Narrativa, Lda., Ágora – Cultura e Desporto do Porto, EM, SA, and CMPEAE – Empresa de Águas e Energia do Município do Porto, EM, who invoked “reasons of public interest” and the need to maintain the activity while negotiations for the recovery of the club continue.
The applicants also alleged that the award of Estádio do Bessa and lot 5 to Frozenpark, Boavista’s largest creditor, will require “a rethinking of the club’s organization and its sources of revenue, implying a very notable reduction in liabilities, allowing other recovery prospects to open up”.
The court ordered Boavista to deposit, by November 8th, into the insolvent estate account, the full amount estimated to cover current expenses for that month, and must attach proof to the process by November 10th.
The decision establishes that non-compliance with these obligations, or the occurrence of a balance that gives rise to new debts on the insolvent estate, implies the immediate and automatic termination of the authorization to maintain the activity.
In this scenario, the insolvency administrator is authorized to close the establishment without the need to previously hear Boavista or obtain a new court order.
In parallel, the value of the down payment for the award of the Bessa Stadium and the adjacent land and training ground was recently deposited into the insolvent estate’s account.
According to a source linked to the process, this amount will be used to settle debts of the insolvent estate itself, secured credits from the Tax Authority relating to Municipal Property Tax (IMI) and the totality of labor credits recognized in the process, which amount to 734,805.85 euros.
The decision comes after the majority of creditors rejected, on October 7, the recovery plan presented by the management led by Rui Garrido Pereira, who, at that time, announced that he intended to continue negotiating with creditors to present a new viable plan.
The postponement now authorized will allow the club to maintain its activity until the end of November, while negotiations take place.
However, according to the same source, this deadline may or may not coincide with the presentation of a new recovery proposal, with its implementation not being guaranteed by the court decision.
Boavista’s insolvency process takes place in a context of debts exceeding 150 million euros. The club’s liquidation was approved in September 2025, but activity was subsequently allowed to continue subject to compliance with financial conditions, including payment of ongoing expenses.
The situation has also been marked by opposition to management. Last week, the Panteras Negras association requested the urgent convening of a general Assembly, including on the agenda the analysis of the insolvency process and the dismissal of corporate bodies, in a context of concern about creditors’ confidence in the current management.
