Dispute for Eldorado Celulose has dispute between TJ judges – 03/31/2023 – Panel
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The billionaire legal dispute between J&F and Paper Excellence for control of Eldorado Celulose generated tension and exchange of barbs between two judges of the São Paulo Court of Justice who have been giving decisions on the conflict, valued at R$ 15 billion.
Responsible for an action that seeks to define who is the rapporteur of the case, the judge Costa Netto irritated colleagues after a decision that delayed the process and benefited J&F, belonging to the brothers Joesley and Wesley Batista.
He had already defined that the report of the case would fall to his colleague Franco de Godoi, but he backtracked in response to a request from the company and referred the matter to a special group of the Court of Justice.
On the last March 24th, he granted the suspensive effect of the action, three days after Godoi Neto had determined the transfer of Eldorado to Paper Excellence.
On the same day, Godoi reacted, complaining that his colleague overstepped his duties in the case, and that there is no international precedent for what he did.
“These acts practiced by the judge [Costa Netto] extrapolated the rules of civil procedure, without correspondence in any civil procedural legislation of civilized countries”, he wrote. In his order, he states that “lacks competence” for his colleague to decide on the case.
The dispute involves the ownership of Eldorado Celulose, which was purchased by the multinational Paper Excellence from the Batista brothers in 2017, but has not yet taken effective control.
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