Court accepts BTG’s new appeal against Americanas – 02/10/2023 – Panel SA

The 4th Business Court of Rio de Janeiro accepted this Thursday (9) an appeal by BTG Pactual against Americanas. In the appeal, the financial institution asked for the execution of early maturities of R$ 1.2 billion and that were running against the retailer before the request for judicial recovery (RJ).

The legal battle between BTG and the retailer began on January 13, when Americanas obtained an injunction that prevented creditors from collecting debts for a period of 30 days. Soon after, the bank filed a request to block BRL 1.2 billion in deposits made by Americanas and the case dragged on with several divergent decisions.

In the new decision, head judge Paulo Assed Estefan validated BTG’s requests made before Americanas forwarded the recovery process on January 19.

For Serur Advogados, the bank responsible for the action, the decision is essential for creditors who sought support in court to maintain contractual compliance with the retailer after the announcement of accounting inconsistencies, on January 11.

Altogether, Americanas owes BRL 3.5 billion to BTG. The amount of R$ 1.2 billion is invested by Americanas in CDBs and Financial Bills of the bank.

Sought by Panel SA, Americanas did not manifest itself.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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