Panel SA: JBS owner went to court ten times to try to maintain extortion investigation

J&F Investimentos, a holding company that manages businesses such as JBS and Banco Original, made at least ten attempts to reopen an investigation that investigated extortion in the group’s fight with Paper Excellence for control of Eldorado Brasil.

There are appeals, correction requests, appeals and injunctions, either seeking to reverse the shelving of the investigation, or asking the São Paulo Court to review the decision to separate this investigation from another, which deals with the hacking of J&F’s email server.

The volume of appeals is seen as an attempt by the holding company to keep suspicions alive in relation to Paper Excellence’s conduct while another process does not come to an end – the one in which J&F asks the Justice to annul the arbitration from which the competitor emerged victorious.

Last week, a series of hearings concerning the process began, scheduled by Judge Renata Maciel, of the 2nd Business Court of Conflicts Related to Arbitration.

In 2021, she even decided to complete the transfer of Eldorado, but the decision was suspended by the TJ-SP.

The fight between the two companies has the air of a soap opera given the number of twists and turns. In 2017, after paying BRL 3.8 billion to brothers Wesley and Joesley Batista, Paper signed a purchase and sale agreement and received part of the shares of Eldorado. Before the deal was concluded, the companies had a disagreement and the case ended up in the Arbitration Court.

In order to overturn the arbitration decision, J&F points out the partiality of one of the three arbitrators who acted in the action and raises the suspicion that CA Investment, a subsidiary of Paper, would have paid for a book, publications of reports and threats to its executives, in addition to the hacking of the holding company’s email servers.

with Fernanda Brigatti