AGU wants to expose market for purchase and sale of writs – 06/14/2023 – Panel SA

The AGU (Attorney General of the Union) released for public consultation this Wednesday (14) the ordinance that will regulate the use of precatories in the payment of grants and acquisition of Union real estate. One of the changes foreseen in the text is to publicize titles acquired in the market.

Precatorios are net and certain credits of third parties with the Union arising from final and unappealable lawsuits.

The idea with the new rule is to make public who owns the credit, to whom the court order was sold, the amount and also whether there was a discount, for example.

The government’s intention is to expose the functioning of a market today formed by banks and funds that gave liquidity to these securities by anticipating bearer payments with discounts to receive in the future the full amount to be paid by the Union.

For companies, deals of this type are advantageous because the bonds are purchased from original creditors at a discount.

In the case of finance companies, it is estimated that they move more than R$ 30 billion with these papers.

This market gained strength after the enactment of a constitutional amendment, in 2021, releasing the automatic use of precatories in the payment of tax debts and business with the Union.

In May, however, the AGU, suspended the use of these titles until there was a definition in the government on how to receive precatories in payments – which happened this Wednesday with the draft of the ordinance.

The lack of definition created an imbroglio in the market. Dealerships that tried to use the credits as part of the payment of grants, were left in the dark after the suspension.

Aena, which won the airport auction in which Congonhas was the main one, for example, gave up waiting for an analysis by Anac (National Civil Aviation Agency) of the precatory presented and opted to pay half of the R$ 2.45 billion it had of commitment with the government to obtain the effectiveness of its contract.

With Diego Felix

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