The judge understood that the BRL 295 million withheld by Votorantim and Safra banks could jeopardize Americanas’ recovery process.| Photo: Hugo Harada/Gazeta do Povo

Judge Luiz Alberto Carvalho Alves, from the 4th Corporate Court of the Capital of Rio de Janeiro, granted the request of the Americanas Group and ordered the attachment and blocking of the company’s values ​​retained by Banco Votorantim, in the amount of R$ 200 million, and by Banco Safra , in the amount of R$ 95 million.

The two banks failed to comply with the determination of the 4th Corporate Court which, on January 19, suspended all financial foreclosures against the Americanas Group, when the group’s judicial recovery process was granted.

In the decision, the judge understood that the amounts retained by the two banks could put the Grupo Americanas recovery process at risk. “It should be noted that the behavior of the aforementioned financial institutions undermines the formation and maintenance of the working capital of the economic group in the process of recovery”, wrote the magistrate, in a text reproduced by the Brazil Agency.

On Monday (23) the Court of Justice of the State of Rio de Janeiro released R$ 1.2 billion from Lojas Americanas that had been blocked at the request of BTG. The blockade had been determined by the Court, which granted an injunction to BTG before the approval by the 4th Corporate Court of the processing of the judicial recovery of the Americanas Group and the appointment of the trustee.