Post by account_disabled on Jan 11, 2024 2:12:02 GMT -5
The restriction provided for by law that prevents the sale or withdrawal of capital assets essential to the activity of the company undergoing judicial recovery during the so-called stay period does not affect the credit rights assigned on a fiduciary basis. reproduction Case concerns a drugstore chain that took out a loan with fiduciary assignment of credits and then requested judicial recovery Reproduction With this understanding, the 2nd Section of the Superior Court of Justice granted the special appeal filed by Banco Itaú to overturn the judicial recovery court's decision that suspended withholdings made on accounts linked to a debtor. The case deals with the group responsible for Drogaria São Bento, very popular in Mato Grosso do Sul.
The company took out two loans from Itaú in 2014, totaling R$ 13 million, the payments for which were paid in 55 installments, with due dates scheduled for 2014 and 2019. As a guarantee, it made a fiduciary assignment of current and future credits, at a percentage of 20% of the total debt. The parties also Telegram Number Data agreed to the early maturity of the debt in the event of non-compliance with any obligation or request for judicial recovery. In January 2015, however, the company went to court to request judicial recovery. As a result, Itaú began to exercise the so-called bank lock: it blocked amounts arising from transactions involving the acquisition of products and services offered at points of sale and payments using a credit or debit card from accounts linked to the company.
In January, when the request for judicial recovery was granted, the amount retained already reached R$1.1 million, which affected the company's cash flow. Payments to employees and the acquisition of goods were threatened, with the risk of continuing the business activity itself. Given this situation, the recovery court ordered the bank to release the amounts resulting from bank blockages and the suspension of future blockages. He justified the decision by the need to guarantee working capital for the operation of the company under recovery. The decision became valid for the duration of the stay period , a period of suspension of actions and executions against the company requesting judicial recovery. This deadline was extended until the General Meeting of Creditors, which only approved the uplift plan in July 2021.
The company took out two loans from Itaú in 2014, totaling R$ 13 million, the payments for which were paid in 55 installments, with due dates scheduled for 2014 and 2019. As a guarantee, it made a fiduciary assignment of current and future credits, at a percentage of 20% of the total debt. The parties also Telegram Number Data agreed to the early maturity of the debt in the event of non-compliance with any obligation or request for judicial recovery. In January 2015, however, the company went to court to request judicial recovery. As a result, Itaú began to exercise the so-called bank lock: it blocked amounts arising from transactions involving the acquisition of products and services offered at points of sale and payments using a credit or debit card from accounts linked to the company.
In January, when the request for judicial recovery was granted, the amount retained already reached R$1.1 million, which affected the company's cash flow. Payments to employees and the acquisition of goods were threatened, with the risk of continuing the business activity itself. Given this situation, the recovery court ordered the bank to release the amounts resulting from bank blockages and the suspension of future blockages. He justified the decision by the need to guarantee working capital for the operation of the company under recovery. The decision became valid for the duration of the stay period , a period of suspension of actions and executions against the company requesting judicial recovery. This deadline was extended until the General Meeting of Creditors, which only approved the uplift plan in July 2021.
