Last Thursday, the 29th, judge José Benedito Franco de Godoi, from the 1st Reserved Chamber of Business Law of the São Paulo Court of Justice (TJ-SP), suspended the decision that could culminate in the transfer of control of Eldorado Brasil to Paper Excellence (PE), as of last Friday, 30th, which remains controlled by J&F Investimentos.
After a request for guardianship made by the holding of the Batista brothers, the judge pointed out that there is a need for further clarification on motions for clarification of those filed in the process.
On Wednesday, the 28th, the PE asked the arbitration court of the International Chamber of Commerce (ICC) to immediately transfer control of Eldorado. According to the minority partner, J&F itself has demonstrated that there is no decision by the Judiciary that has suspended the arbitration award — which is questioned in court by Batista.
In response to the request, the arbitral tribunal requested that J&F manifest itself by this Friday on the request for the immediate transfer of control. J&F appealed to the TJ-SP in view of the arbitrators’ response, resulting in the judge’s decision.
ESPIONAGE INQUIRY
In addition, also on Wednesday, the Civil Police of São Paulo indicted two PE executives on charges of having hired hackers to break into J&F computers to monitor e-mails in real time.
According to delegate Nelson Caneloi Junior, from the 1st Police District of Diadema, there is material evidence and testimonies that would prove the hiring of the technology and programming company Moema Ferrari Normanha by the executives Claudio Laerte Cotrim and Josmar Verillo, from Paper Excellence, to invade emails and cell phones from directors of the Batista brothers’ holding company, while the two companies began an arbitration dispute for control of the pulp producer.
PE executives, Cotrim and Verillo, were indicted for the crimes of invasion of computer devices and criminal association, provided for in the Brazilian Penal Code. However, the investigation is not yet conclusive, since to become a judicial process, it is necessary that the complaint be accepted by the Public Ministry.
In a note, Paper Excellence said that the investigation is “unusual” and without “legal value”.
ABOUT THE CASE
The dispute of R$ 15 billion, which has been going on for four years, for control of the Brazilian pulp producer Eldorado is the biggest business conflict in progress in the country. The arbitration decided for Paper Excellence to win, but the majority partner tries to overturn the sentence. Both the funds for payment by PE and the shares still held by J&F, which represent 50.59% of the company’s capital, are deposited in court.
