The judge of the 4th public finance court of Curitiba rejected the agreement reached between Athletico, the city hall and the government of Paraná on the renovation of the Arena
The judge of the IV Court of the Public Treasury of the Central Court of the Metropolitan Region of Curitiba, Guilherme de Paula Rezende, rejected the agreement reached between Athletico, the city of Curitiba and the government of Paraná on the payment of the debt for the restructuring of the Arena da Baixada for the World Cup 2014 World Cup. The decision was released on Thursday (17) and was initially released by OneTwo Sports.
Among the arguments put forward by the judge for the failure to ratify the agreement there is “the incompetence of the Court given the pending appeals and requests before the STJ”. In addition to the absence of prior legislative authorizations for the operation and the absence of verification of the financial and budget availability for the expenditure. Now the case will be mediated by the Paraná Court of Justice (TJ-PR) and could be taken to the Superior Court of Justice (STJ).
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Rezende also pointed out that Fomento Paraná, the state credit agency that granted the stadium renovation loans, does not comply with corporate governance practices justifying the waiver of more than R$ 600 million. This amount is the difference between the amount with penalties and interest and the final contract amount. While the parties closed the deal at approximately 590 million reais, the amounts with interest amounted to approximately 1.2 billion reais. However, the discounts have been approved by the Legislative Assembly of Paraná (Alep) as an amendment to PL 446/2022.
remember the deal
Executed for R$ 346.2 million, according to the Court of Accounts of the State of Paraná (TCE-PR), the work had R$ 291 million financed by Fomento. The correct value of Arena’s debt, on the other hand, has been reached BRL 590 millionwithout charge of penalties and interest, as approved by Alep.
State and Municipality will pay approx. BRL 75 million each, number defined after evaluation by the Public Prosecutor’s Office of Paraná (MP-PR). The Municipality will not pay the full amount, as the club is still indebted to the Municipality in the matter of the expropriation of part of the Arena structure. That is, the balance owed by the city hall was 43.3 million reais. So adding up the amount paid by the government and the municipality, the amount comes to approx BRL 150 million.
Atletico will pay for more 190 million reais. In a memo, the club said it would pay R$50 million in cash immediately, with the rest to be paid in 15-year installments. In the note, Atletico claimed to have promised the values of the recent naming rightsfor an amount of R$ 200 million, signed with the company Ligga Telecom.
With that, the account looks like this: BRL 250 million of construction potential already issued by the first Tripartite Pact + 150 million reais of the new agreement (Municipality and State) = R$ 400 million. The rest of the current debt is borne by Atletico, in the amount of BRL 190 millionalready mentioned above.
Source: Terra
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