Justice suspends blocking of BTG executions against Americanas

Justice determines blocking of amounts of Americanas held in banks

Judge Luiz Alberto Carvalho Alves, from the 4th Business Court of the Capital of Rio de Janeiro, granted the request of the Americanas Group and ordered the attachment and blocking of the Americanas Group’s values ​​retained by Banco Votorantim, in the amount of R$ 200 million and by Banco Harvest, of R$ 95 million. The two banks failed to comply with the determination of the 4th Corporate Court which, on January 19, suspended all financial foreclosures against the Americanas Group, when the group’s judicial recovery process was granted.Justice determines blocking of amounts of Americanas held in banks

The judge understood that the amounts retained by the two banks could jeopardize the Grupo Americanas recovery process. “It should be noted that the behavior of the aforementioned financial institutions undermines the formation and maintenance of the working capital of the economic group in the process of recovery”, wrote the magistrate.

Also this Monday, the Court of Justice of the State of Rio de Janeiro released R$ 1.2 billion from Lojas Americanas that had been blocked at the request of BTG. The blockade had been determined by the Court, which granted an injunction to BTG before the approval by the 4th Corporate Court of the processing of the judicial recovery of the Americanas Group and the appointment of the trustee.

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