Former Secretary of Justice will be a lawyer at Paper Excellence – 02/04/2024 – Panel
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Former national secretary of Justice, lawyer Augusto de Arruda Botelho was hired by the Indonesian Paper Excellence to act in the billion-dollar legal dispute with J&F Investimentos, which has been going on for six years, for controlling interest in Eldorado Celulose. He held the position at the Ministry of Justice until February this year.
J&F and Paper closed the purchase and sale agreement for 100% of Eldorado in September 2017. The deal was announced, at the time, for R$15 billion. In the first phase, the Brazilian arm of the Indonesian conglomerate purchased 49.41% of Eldorado’s shares.
A year later, the transaction began its legal saga. The two companies did not agree on the transfer of the remaining part. The most recent attempt at an agreement was a suggestion made at the last Arbitration Court hearing on October 30th.
In November last year, J&F submitted a request to the STF (Supreme Federal Court) to suspend all payments it assumed in a leniency agreement reached within the scope of Operation Lava Jato and also the sale of Eldorado.
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