BTG reverses decision and prevents return of BRL 1.2 billion to Americanas

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BTG Pactual achieved a victory in the legal battle with Americanas. A writ of mandamus reverses a previous decision dealing with the R$1.2 billion dispute between the two parties.

With the decision taken this Wednesday (18), BTG reverses part of the effects of the decision taken by the Justice of Rio on Saturday, which was favorable to the retailer and determined the return of R$ 1.2 billion paid to the financial institution.

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The decision of the judge Flávio Marcelo de Azevedo Horta Fernandes argues that it is necessary to have “diligence in order to avoid the use of the instrument as a means of defrauding creditors”.

The decision also mentions that it is necessary to be “careful inherent to the species, the need to carry out a prior diagnosis of the company, in order to assess the real economic, financial and legal situation before opting for some safeguarding and uplifting tool, especially measures which may become irreversible”.

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Source: CNN Brasil

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