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FUP says it will go to court to annul the result of Petrobras’ meeting

The Unique Federation of Oil Workers (FUP) reported that it is going to court and to the Securities and Exchange Commission (CVM) to try to annul the result of the extraordinary general meeting of shareholders (AGE) of Petrobras that reformed the company’s Board of Directors with two rejected names for the governance of the state-owned company due to conflict of interests prohibited by law.

“The disregard for the State-owned Companies Law, the disregard for corporate governance and the abuse of the majority shareholder’s rights were exposed at the Extraordinary General Meeting (AGE) of Petrobras held this Friday, 19th,” the FUP said in a statement.

“We are going to file a lawsuit in the Federal Court, on Monday (22) to annul the assembly. In addition, we will return with a new representation at the CVM”, says the general coordinator of the FUP, Deyvid Bacelar, in the document.

The FUP will focus arguments against the election of councilors of Jônathas de Castro, executive secretary of the Civil House, and Ricardo Alencar, attorney general of the National Treasury (PGFN).

They were unanimously considered ineligible by the Eligibility Committee (Celeg) and by the company’s Board of Directors, due to conflicts of interest. Castro because he participates in discussions on fuel prices in the Planalto and Soriano because he heads an agency that is a direct party in lawsuits involving Petrobras that total R$ 110 billion.

“The appointment of people liable to conflicts of interest and without the necessary training and experience in the oil and gas sector is inadmissible, since, in addition to violating the law, they are more subject to excesses by the majority shareholder, which can bring losses to the company from of harmful and often electoral measures. It is a precedent that we cannot let happen”, says in the note Mário Dal Zot, president of Anapetro, an association that represents employees who are minority shareholders of Petrobras.

Source: CNN Brasil

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