Americanas case will have 1st hearing in Senate committee – 03/26/2023 – Panel SA

The Senate Economic Affairs Committee is due to hear this Tuesday (28) directors of Lojas Americanas, the CVM (Securities and Exchange Commission), Febraban and representatives of Forte Minas, a company affected by the crisis at the retailer. This will be the first public hearing after the revelation of the accounting scandal.

According to Senator Otto Alencar (PSD-BA), author of two summons requests, the idea is to give space for the directors of Americanas to explain how an apparently healthy company went into bankruptcy with billionaire debts. Forte Minas will also show how the crisis devastated the financial scenario of creditors.

Figures such as the former president of Americanas, Sergio Rial, the current CEO of the company, Leonardo Coelho Pereira, the president of the CVM, João Pedro Barroso do Nascimento and former directors of the retailer confirmed their presence. PwC, the company responsible for auditing Americanas accounts, was invited to the hearing, however, replied that it will not attend.

Otto Alencar claims that Miguel Gutierrez, CEO of Americanas for 20 years, considered a key player in the hearing, was not located by the commission. On the last 16th, he testified in person to the CVM, in Rio de Janeiro.

“It is important for the company itself to say ‘we made a mistake, we asked for judicial recovery and we will resolve it in the following way’. That it says who made a mistake, who did not do it wrong, that kind of thing. We want to know if they are going to solve the problems that were created by Miguel Gutierrez and the former directors. These will be technical questions,” said Alencar.

The senators also intend to use the public hearing to formulate a project to shield the financial system against accounting fraud and increase the transparency of accounts for investors. Senator Sergio Moro (União-PR) even suggested that he would make a bill on the subject shortly after the revelation of the Americanas scandal, but it was not filed in the Senate.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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