Americanas SA released today (19) to the market, as determined by the Securities and Exchange Commission (CVM), a material fact informing that it is evaluating the possibility of filing for urgent judicial recovery “in the next few days or potentially in the next few hours” .
According to the company, if this occurs, the request will be the result of the position of the Special Body of the Court of Justice of Rio de Janeiro (TJRJ), which suspended, in a monocratic decision referring to a writ of mandamus filed by Banco BTG, the effect of the concession established by the Fifteenth Civil Chamber, also of the TJRJ, to resume the company’s rights to recover amounts offset by creditors under the terms of the precautionary decision issued by the 4th Business Court of the Court of Justice of Rio de Janeiro, this week.
In the same decision, the Special Body determined the blocking of BRL 1.2 billion in Banco BTG’s account until the assessment of the writ of mandamus. The company stated that, in addition, the company’s available cash position for its activities reached, this Thursday, the value of R$ 800 million. As reported by the Special Body, a significant portion of this amount was unjustifiably unavailable for handling by the company on yesterday’s date.
The 4th Corporate Court determined the immediate restitution of any and all amounts that creditors may have compensated, withheld and/or appropriated from Grupo Americanas after the company revealed, on January 11, the discovery of an accounting gap in the amount of BRL 20 billion. Despite the decision of the 4th Business Court having been maintained by decision of the 15th Civil Chamber, an injunction in favor of Banco BTG Pactual issued by the judge Flávio Marcelo de Azevedo Horta Fernandes, of the Special Body of the TJRJ, which prevents the company from recovering the amounts offset by creditors.
The Material Fact is signed with today’s date by Americanas’ Chief Executive Officer and Investor Relations Officer, João Guerra. In the document, he informs that “Americanas is a century-old retailer, which provides a broad service to the population and has a strong social commitment to bring accessible products to its 53 million customers”.
Guerra says that the company will appeal the decision, “which hurts its efforts in the search for a short-term solution with its creditors, to maintain its commitment as a generator of thousands of direct and indirect jobs, broad social impact, a source of production and stimulus to economic activity, in addition to being a relevant tax payer”.
“The company will keep its shareholders and the market, in general, updated on the matters covered by this Material Fact”, adds Guerra.
