The Commercial Court No. 25, led by Judge Horacio Francisco Robledo, has declared Alberto Samid, a well-known meat businessman in Argentina, bankrupt due to his inability to reach an agreement with creditors regarding a debt totaling approximately $276.66 million, primarily consisting of tax obligations owed to governmental agencies. This ruling follows a preventive bankruptcy procedure initiated in 2022, wherein Samid failed to secure the necessary approval from his creditors, which included entities like ARCA and ARBA, the provincial revenue authority that he has publicly supported for political office.

The court's decision reflects stringent enforcement of the bankruptcy laws, particularly as Samid did not meet the dual consent requirement outlined in the Bankruptcy Law. As per judicial records, the lack of agreement on the repayment terms led to this adverse ruling against Samid, who is now prohibited from leaving the country. Reports indicate that his spouse mentioned he is currently hospitalized in Uruguay, raising questions about his wellbeing in light of this significant legal setback.

This ruling not only underscores the severity of Samid's financial troubles but also highlights the broader implications for the meat industry in Argentina. With Samid's political affiliations and past support for Governor Axel Kicillof’s presidential aspirations, the outcome of this case could also spark discussions about the intersection of business and politics in the country, as well as the treatment of business debts amidst Argentina's ongoing economic crisis.