J&F: Batista’s company will pay compensation to president – 06/08/2023 – Panel SA

The CEO of Paper Excellence, Cláudio Cotrim, won in court the right to compensation of R$ 300,000 from J&F dos Batista brothers, the company with which he disputes the control of Eldorado Celulose.

Cotrim was sued by J&F for an interview published by Sheetin 2019. In it, he claimed to have received a request from the Batistas for Paper to pay R$ 6 billion more shortly after signing the agreement to sell its shares to the Indonesian group.

At the time, Cotrim reported to the Sheet that Paper paid BRL 3.8 billion for 49.41% of Eldorado and would have to deliver another BRL 4.1 billion for total control of the company (50.69% of the shares). However, with the valuation of the pulp company, the Batistas demanded R$ 10.8 billion for the rest of the shares.

J&F sued Cotrim for slander and defamation, denying that the Court had made this demand.

However, Judge Guilherme Ferreira da Cruz, of the São Paulo Court of Justice, confirmed that Cotrim had told the truth when analyzing one of J&F’s petitions in another process, in which the two companies were litigating for control of Eldorado.

In this process, the judge found a confession by J&F itself that it had asked for R$ 6 billion more to hand over control of Eldorado.

With the discovery, the magistrate understood that J&F had practiced litigation in bad faith and, therefore, condemned the company in the action it had filed against the president of Paper.

The Batistas appealed three times to the STJ and, a week ago, the final decision was issued. There is no appeal and the company will have to indemnify Cotrim.

“I will donate the full amount of the fine”, said the executive to the Panel SA “The most important thing is that the Justice recognized, in all instances, my declarations are true and that there was no intention of defame.”

Sought, J&F did not respond until the publication of this report.

There was never an agreement between the companies and that deal remains pending to this day. J&F lost the main arbitration, which determined the delivery of control of Eldorado to Paper, but questioned the process in court, and the case remains undecided.

With Diego Felix

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