The Justice of Rio de Janeiro denied, this Tuesday (21), an appeal by the Public Ministry of Rio de Janeiro (MPRJ) that intended to limit to only one trustee the performance in the judicial recovery process of the Americanas Group.
The judges who make up the 18th Chamber of Private Law of the Court of Justice of Rio de Janeiro denied the appeal and considered legal the appointment of the judicial administrators Bruno Rezende, from Preserva-Ação Administração Judicial, and Sergio Zveiter, from the Zveiter Advocacy Office, in the Americanas judicial reorganization processing. The decision for the joint administration was granted by Judge Paulo Assed Estefan, head of the 4th Corporate Court of the Capital.
In the judgment of the interlocutory appeal carried out in the session this Tuesday, the judges Paulo Wunder de Alencar and Lucia Regina Esteves de Magalhães unanimously followed the vote of the rapporteur, judge Leila Santos Lopes, who considered the request of the Public Ministry for appointment of only one administrator without support in the law. The magistrate wrote in her opinion that “the law allows the appointment of more than one judicial administrator, especially since it is the most complex case in Brazil”.
In judicial reorganization for more than a month, Lojas Americanas faces a crisis since the revelation of “accounting inconsistencies” of R$ 20 billion. Later, the group itself admitted that the debts could reach R$ 43 billion.
In early March, Lojas Americanas proposed a contribution of R$ 10 billion to creditors by the reference shareholders: the trio of billionaires Marcel Telles, Beto Sicupira and Jorge Paulo Lemann. The parties, however, did not reach an agreement.
The contribution includes a financing of R$ 2 billion. Partners of 3G Capital, the trio had control of the group until 2021. Although they disposed of part of the shares, the billionaires remained the largest individual shareholders in the company.