Court decision prevents blocking of Americanas assets

Americanas filed this Friday (13) with a request for urgent precautionary relief with the 4th Business Court of Rio de Janeiro. With this, the company manages to prevent its assets from being blocked at the request of creditors, for example.

Judge Paulo Assed granted the measure, to which the Sheet had access, which aims to suspend any possibility of blocking, seizing or seizing the retailer’s assets, which is also released from paying its debts until an eventual request for judicial recovery is made to the Justice.

According to a source heard by the report, in practice, the measure grants Americanas the anticipation of the effects of a request for judicial recovery, an initiative that must be taken within 30 days, according to the decision of the Justice.

The information about the request to Justice was published by columnist Lauro Jardim, from the newspaper O Globo.

The company deals with the R$ 20 billion accounting scandal, announced by the company’s former president, Sergio Rial, on Wednesday (11).

In the guardianship request, the company states that the discovery of the accounting gap of R$ 20 billion could lead to “the early and immediate maturity of debts in the approximate amount of R$ 40 billion”.

In the request presented to the Justice of Rio de Janeiro, Americanas states that this Friday (13) it had the collection of R$ 1.2 billion as a result of “financial compensation operated by a financial creditor, based on the inconsistency of its accounting entries” .

That is, the company has already received the first administrative execution of an active contract.

The crisis involving Americanas began on Wednesday (11), after the market closed, with the announcement that Sergio Rial was leaving the company’s command ten days after taking office and the announcement that about R$ 20 billion in “inconsistencies” in the company’s balance sheet.

Rial, who headed Santander Brasil for six years, replaced Miguel Gutierrez, president of Americanas for nearly two decades. Chief Financial Officer Andre Covre also left the role he had just joined.

This Friday, Americanas common shares rose 15.80%, recovering part of the losses of this Thursday, the day they collapsed almost 80%.

On August 22, 2022, on the first day of trading after the announcement of Rial as president of Americana, the company’s common shares were worth R$15.96. This Friday, it’s worth R$ 3.15.