Justice determines that Votorantim and Safra return funds to Americanas

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In yet another chapter of the judicial war between the creditor banks and the Americanas, the Court determined that Votorantim and Safra banks should return the resources that were blocked from the company’s accounts.

According to a court decision that CNN had access to, Votorantim has already returned BRL 210 million to the company, while Safra has 24 hours to do the same or will be fined for litigation in bad faith.

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This week, the Supreme Court of Justice reversed a decision favorable to Americanas and kept BRL 1.2 billion blocked by Banco BTG.

Americanas, owned by the trio of entrepreneurs Jorge Paulo Lemann, Beto Sicupira and Marcel Telles, filed for bankruptcy after the discovery of suspected fraud on its balance sheet. The company’s debts exceed R$ 40 billion.

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Since then, a judicial war has been set up between the creditor banks, which demand that the controllers assume responsibility for the loss.

THE CNN awaits positioning from Votorantim and Safra. Sought by CNN, Americanas said it will not comment on the decision

Source: CNN Brasil

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