Bradesco asks justice to block the assets of Americanas managers

a Bradesco Asked the judge of Sao Paulo to protest the transfer of assets belonging to members of the Board of Directors and the Financial Board of The Americansan application with the same content as the action against Three reference contributors, Jorge Paulo Lehmann, Marcel Telles, and Carlos Alberto Secubera.

In practice, the Bank’s defense seeks to block the assets, to prevent the directors from disposing of the assets, which, in the event of legal liability for A R$20 billion deficit led the company to a court recoverycan prevent recipients from receiving funds.

Americana’s board of directors was formed by Secubira, Paolo Alberto Lehmann, Eduardo Sagioro García and Claudio Muñiz Barreto García, the last three representatives of the trio of reference. Mauro Moratorio Nott, Sidney Vitor da Costa Briar and Vanessa Claro López hold the positions of independent members. With the exception of Sicupira, which was the subject of the same application as the two partners, the other six are mentioned in the application.

A parallel request also mentions Carlos Alberto de Souza, Pedro Carvalho de Mello, Peter Edward Cortes, Ricardo Scalzo and Vicente Antonio de Castro, according to clips obtained by the broadcast. They have been members of the company’s board of directors for the past decade.

Bradsco argues that the board members were responsible

In the documents, Warde’s office, which represents Bradesco, states that the board members were responsible for the company’s business. In the article on the board of directors, for example, they mention that Brazilian corporate law defines the general direction of the company’s business and the oversight of management as duties of the body.

In an article on the financial council, the bank’s lawyers said that the council members expressed a positive opinion on the company’s balance sheets, without indicating reservations or an accounting gap. “In addition, they approved the distribution of proceeds (dividends and interest on private capital) which in the period analyzed totaled R$1.7 billion (in historical values).”

Bradesco’s defense motions are part of the process in which the bank attempts to provide advance evidence to find those responsible for the accounting breach that led the company to injunctive recovery. The Sao Paulo Court of Justice authorized the search, seizure and expertise of company executives’ emails, but The measure was suspended by order of Minister Alexandre de Moraes, of the Supreme Federal Court (STF).

Lawyers for the bank and other creditors seek to limit the responsibilities between the individuals, arguing, for example, that it would have been impossible for the three reference shareholders, controlling Americana, not to have been aware of the company’s irregular practices.