Americanas’ total debt is BRL 47 billion, says trustee – 02/01/2023 – Market

The judicial administration team of the Americanas recovery process verified that the group’s total debt is R$ 47.9 billion. As part of the recovery request, presented in January, the group had quoted the value of R$ 41.2 billion.

The difference, of R$ 6.6 billion, was measured by the team, which did a fine-tooth comb on the list of debts and creditors presented by the Americanas group itself.

Information about the discrepancy was sent via petition, this Wednesday (1st), to the 4th Business Court of the city of Rio de Janeiro, which monitors the company’s judicial recovery.

In response to the question, the Americanas group said that the R$ 6.6 billion more is due to the total value of the debentures in which Americanas SA owes the companies JSM Global and B2W Digital Lux, which are part of the Americanas group and are also under judicial recovery.

“The debentures were issued within the group only to create a channel for transferring funds from Americanas S/A to the foreign companies under reorganization, aiming at the payment of the Bonds (the debentures “mirror” the bonds). When considering the consolidated debt of the companies under reorganization, this amount must be purged, under penalty of duplicity. There is only one debt, arising from the issuance of bonds, and one
intragroup channel for the remittance of resources for the payment of that debt”, said the Americanas group”, justified the group, according to the petition.

The judicial administration team asked the Justice to provide a complete list of lawsuits related to debts involving the Americanas group, both in the civil and labor spheres.

The judicial administration, formed by the offices Zveiter and Preserva Ação, also sent official letters to the CVM (Securities and Exchange Commission), the Federal Accounting Council and other entities to schedule presentation meetings on the situation of Americanas.

“It’s appalling how the gap deepens at every moment and the amounts involved increase. From BRL 20 billion, it went to BRL 43 billion when the recovery request was filed, and now the trustee highlights the amount of BRL 48 billion”, said Gabriel de Britto Silva, legal director of Ibraci (Brazilian Institute of Citizenship), which filed a lawsuit asking for compensation to investors in Americanas.

“The amounts involved are unprecedented and a successful outcome for judicial recovery is unlikely to be viable”, considers the lawyer.