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8m ago

Appeals Court Gives San Lorenzo Five Days To Pay $5.3 Million, Reopens Bankruptcy Push

The debt traces to pandemic-era financing tied to transfer receipts, straining a fractured leadership under scrutiny over Marcelo Moretti.

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Overview

  • Argentina’s Commercial Chamber Sala C reversed a lower-court ruling and ordered San Lorenzo to be intimated to pay $5.3 million to AIS Investment Fund SCA Sicav Raif.
  • The formal notice was delivered on Monday, triggering a five-business-day window to pay or present a defense or the case can proceed toward a bankruptcy declaration.
  • Club officials say they will appeal as they race to secure emergency financing or a negotiated plan to halt the creditor’s petition.
  • The claim stems from 2020–21 loans and transfer-advance agreements linked to Adolfo Gaich, with missed payment plans and accrued interest lifting the total to about $5.3 million.
  • The governance crisis deepened as president-on-leave Marcelo Moretti was turned away from headquarters by secretary Martín Cigna, while an audit citing 183 lawsuits and liabilities over $30 million narrows legal options.