Concessionaires set up offensive in the STF against AGU – 07/07/2023 – Panel SA

At least two major transport concessionaires have already decided to appeal to the STF against an ordinance that the AGU (Attorney General of the Union) should publish this month on the use of precatories (debt securities with final court judgments) in business with the government.

Both companies spoke to the column anonymously as they are still waiting for the publication of the rules to be defined by the AGU after the public consultation.

According to the guidelines previously presented by the AGU in the consultation, they assess that the regulation will bar the use of these titles in the payment of grants, for example —which they consider an affront to the Constitution.

In the Jair Bolsonaro government, a constitutional amendment was enacted guaranteeing the right to use precatories in the payment of concession commitments. The amendment, according to the constitutional text, is self-applicable.

However, the AGU suspended the use of these titles until there was a regulation.

The body, which defends the Union, considers that the concept of self-application collides with the fiscal responsibility legislation.

The expectation is that the new ordinance restricts these roles, which will only be accepted when there is a provision in the concession notice.

Precatories purchased from third parties in the market should also not be accepted. The concession holder must be the concessionaire himself.

This requirement harms banks and funds that today move around R$ 30 billion in precatorios as if it were a fiduciary alienation (purchase of a financed car) in which the document is only transferred to the buyer after discharge.

For concessionaires, it makes no sense to acquire a precatório without the certainty that it will be accepted by the government.

The AGU claims it has received nearly 60 submissions. They are under analysis and will be considered in the preparation of the ordinance.

With Diego Felix

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