Post by anik4500 on Feb 25, 2024 2:56:52 GMT -5
Since the discovery of the hole, BTG has been in dispute with Americanas. Shortly after the debt was disclosed, the bank activated a contract clause and brought forward the payment of Americanas' debts, withholding R$1.2 billion from the retailer that was in its possession. Americanas went to court and asked for the anticipation of some effects of judicial recovery, such as protection against creditors. The 4th Business Court of Rio de Janeiro accepted the request and ordered BTG to return the kidnapped amounts. According to the bank, the decision could not affect previous acts. BTG then obtained a decision from the TJ-RJ ordering the preservation of all effects of the compensation, that is, that the money remained in the bank's possession. After that, the 4th Business Court of Rio, upon accepting the retailer's request for judicial recovery, reiterated the return order.
According to BTG, however, "if, at the time of the request for judicial recovery — and the filing of the precautionary measure before the Court of the 4th Business Court —, the extinction of Americans' obligations had already taken place, and therefore such values already belonged exclusively to BTG, the recovery co Chinese American Phone Number List urt is not competent to determine their 'return' under the pretext of protecting the assets of the company under recovery". At the end of January, Minister Og Fernandes, vice-president of the Superior Court of Justice, ordered the suspension of the court decision that returned the money seized by BTG Pactual to Lojas Americanas. The decision, however, maintained the unavailability of the values. Secrecy back The 4th Business Court of Rio reestablished, this Thursday (16/3), the secrecy of the procedural incident that investigates the accounting inconsistencies reported by Americanas.
The decision responded to the retailer's request, which claimed that the documents gathered in the aforementioned incident were taken from confidential proceedings underway before the Securities and Exchange Commission. On March 11, the court had lifted the secrecy of all procedural incidents in the judicial recovery of Americanas. Among the secondary issues that arose in the process and covered by the decision are findings relating to accounting inconsistencies presented by the business group. Public access to information about the R$2 billion debtor in possession (DIP) financing approved for Americanas was also guaranteed. The DIP consists of a loan made in a judicial recovery environment, in which creditors jump to the front of the queue to receive the amount owed. Judge Paulo Assed Estefan recalled that, according to the Constitution, publicity of procedural acts is the rule and secrecy is the exception. "Individual interest cannot override public interest," he said.
According to BTG, however, "if, at the time of the request for judicial recovery — and the filing of the precautionary measure before the Court of the 4th Business Court —, the extinction of Americans' obligations had already taken place, and therefore such values already belonged exclusively to BTG, the recovery co Chinese American Phone Number List urt is not competent to determine their 'return' under the pretext of protecting the assets of the company under recovery". At the end of January, Minister Og Fernandes, vice-president of the Superior Court of Justice, ordered the suspension of the court decision that returned the money seized by BTG Pactual to Lojas Americanas. The decision, however, maintained the unavailability of the values. Secrecy back The 4th Business Court of Rio reestablished, this Thursday (16/3), the secrecy of the procedural incident that investigates the accounting inconsistencies reported by Americanas.
The decision responded to the retailer's request, which claimed that the documents gathered in the aforementioned incident were taken from confidential proceedings underway before the Securities and Exchange Commission. On March 11, the court had lifted the secrecy of all procedural incidents in the judicial recovery of Americanas. Among the secondary issues that arose in the process and covered by the decision are findings relating to accounting inconsistencies presented by the business group. Public access to information about the R$2 billion debtor in possession (DIP) financing approved for Americanas was also guaranteed. The DIP consists of a loan made in a judicial recovery environment, in which creditors jump to the front of the queue to receive the amount owed. Judge Paulo Assed Estefan recalled that, according to the Constitution, publicity of procedural acts is the rule and secrecy is the exception. "Individual interest cannot override public interest," he said.