Brazilian Airline Gol Faces Legal Hurdle in Bankruptcy Proceedings
17.12.2025 - 11:09:04Gol Linhas Aereas Inteligentes US38045R2067
A U.S. district court has invalidated a portion of the previously approved Chapter 11 restructuring plan for Brazilian carrier Gol Linhas Aereas Inteligentes. The December 1, 2025, ruling specifically targets legal protections for third parties, creating a new layer of uncertainty even as the airline insists its operational revival remains on track.
The judge’s decision centers on clauses known as “third-party releases.” These provisions, embedded within Gol’s reorganization blueprint, were designed to shield company executives, lenders, and other affiliated parties from potential damage claims filed by creditors. The court found these releases impermissible, arguing that creditors were not provided adequate opportunity to opt out of them. Consequently, the matter has been Read more...
