With R$2.5 billion to be received from the retailer, the bank was the only one left out of the deal
The only bank left out of the agreement Americansor Harvest has changed its position and decided to join the retailer’s judicial reorganization plan on the eve of the general meeting of creditors, scheduled for next Tuesday 19th. reported five fraud attempts in the agreement and a request to cancel the meeting was submitted to the Court – which was denied.
The information that Safra has joined the plan was anticipated by the newspaper The globe and confirmed by Estadao. When contacted, Safra and Americanas did not comment on the matter.
Safra has R$2.5 billion to receive from the Americans. Previously, the bank, through its lawyers, had said that the attempt to approve the plan “with the grain of salt” at “lights closing in 2023” was aimed at its own retail network and “financial institutions complicit in fraud” to obtain tax advantages.
Among these fraud attempts include, according to Safra, the commitment made by the banks in the agreement not to take legal action against Americanas and its main shareholders (Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira), the differential treatment between creditors of the same class and the recognition of the base date for the calculation of credits as January 19th, while the civil status considered the 12th of the same month as the base date.
Americanas had closed, at the end of November, the agreement with holders of more than 35% of the debt. At the time it was agreed that the company would receive a capitalization of 24 billion reais, divided between resources of the relevant shareholders and debt conversion by the creditor banks.
After the implementation of the plan, according to company information, Americanas’ gross debt is expected to fall to R$ 1.9 billion. At the end of 2022, according to the most recent data, gross debt reached R$37.3 billion.
Source: Terra
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