Americanas asks the Justice that Stone unblock R$ 45 million

Americanas’ defense, represented by Basilio Advogados and Salomão Kaiuca Abrahão Raposo Cotta, sent a petition to the 4th Business Court of the Judicial District of the State Capital of Rio de Janeiro in which it requests the release of R$ 44.8 million in sales of its marketplace, withheld from Stone, fintech of means of payment.

The amounts arising from the sale of products are transferred by Stone to Americanas’ bank accounts, which, in turn, transfers the amounts to sellers (shopkeepers who make sales through the retailer’s marketplace). However, due to the judicial recovery –decreed on the 19th, when Americanas reported debts of R$43 billion–, Stone suspended the transfers and asked the Justice for a pronouncement to release the amount.

The retailer, in turn, says that the judicial reorganization does not prevent it from receiving the amounts: on the contrary, it argues that it needs the money to pay the sellers and receive its commission on sales.

“These amounts received by the Americanas Group as remuneration for using the marketplace represent a significant portion of its monthly revenue, so that the block by Stone has been causing severe losses to the companies under reorganization”, says the defense.

The retailer informed that it had to disburse the amount from its cashier to pay the sellers and requests that the Justice of Rio determine a period of 24 hours, under penalty of a fine, for Stone to deposit the amounts in its account.

Dispute between Bradesco and BNDES

The petition also addresses an obstacle involving Bradesco and BNDES (National Bank for Economic and Social Development). This is because the development bank intends to execute a letter of guarantee from Bradesco offered in guarantee of payments by Americanas.

Bradesco maintains that this execution would be impeded by the retailer’s judicial recovery. The BNDES maintains that the “law does not extend the protection measures to third parties due to real and/or contractual obligations, assumed responsibility and are subject to the payment of debts of the debtor in judicial recovery”.

Americanas’ defense argues that the Rio court has already informed, in previous decisions, that this is not the time to discuss “in summary form (…) the legal nature of each of the credits” and that Bradesco and BNDES that understand.