BTG appeals injunction protecting Americans from creditors

Bank BTG Pactual is appealing in court an injunction protecting the Americanas retailer from creditors, documents seen by Reuters show.

In an appeal filed Saturday, BTG attorneys argue that the injunction unlawfully reversed a payment Americanas made to BTG.

Americanas obtained a 30-day injunction Friday from early repayment, a period the retailer can use to settle with creditors or seek a judicial recovery.

The move comes after the retailer reported 20 billion reais in accounting “inconsistencies” in accounting “inconsistencies” after the stock market closed on Wednesday, shocking the market.

Americanas did not respond to requests for comment. BTG declined to comment on the matter.

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.