Skip to content
Brand AI

Gurgel

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile1 entries

  1. 1994

    Collapse of the Delta financing plan and corporate bankruptcy

    Gurgel’s proposed Delta project depended on financial support discussed by the governments of Ceará and São Paulo and potentially BNDES. When the expected Ceará funding was not confirmed, related support fell away. Gurgel entered preventive bankruptcy in 1993 and ultimately closed in 1994. João Gurgel blamed Ceará governor Ciro Gomes, while Gomes disputed the company’s account and argued that Gurgel had taken on debt before the proposed agreement.

    Source