Post by xyz3600 on Feb 25, 2024 6:50:44 GMT
The meeting of creditors has the autonomy to establish which monetary correction index applies to debts of a company undergoing judicial recovery. With this understanding, the 3rd Panel of the Superior Court of Justice validated the choice of the Reference Rate as a correction method. reproduction Judicial interference in recovery should be limited to procedural issues, leaving questions of merit to the meeting of creditors, says minister Paulo de Tarso Reproduction According to the rapporteur, minister Paulo de Tarso Sanseverino, the jurisprudence of the STJ has been defining that judicial interference in recoveries must be limited to procedural acts, and not on the merits. The objective, he says, is to leave economic choices to the creditors' assembly. In this case, a creditor went to court to complain about the use of TR and the setting of the interest rate at 1% per year.
According to Paulo de Tarso, there is no law that deals with minimum interest rates nor that prohibits annual periodicity. "The rules of the Civil Code regarding interest rates are either merely supplementary in nature or establish a ceiling. Therefore, the sovereignty of the general meeting of creditors must be respected", states the minister. Regarding monetary correction, the minister Middle East Mobile Number List states that the STJ has several precedents affirming the legality of using the TR as a monetary index. "As the recovery plan presupposes the availability of rights on the part of creditors, nothing would prevent them from also providing for the monetary updating of their credits, assuming for themselves the risk of inflationary risk.
In this order of ideas, the clause would not be invalid of the recovery plan that would eliminate monetary correction on qualified credits, or that would adopt an index that does not reflect the inflationary phenomenon (such as the TR), as such provision of rights falls within the scope of the autonomy that the creditors' meeting has to dispose of of rights in favor of the recovery of the company in financial crisis", states the rapporteur.CREA-RO So far, the rapporteur, judge Josaphá Francisco dos Santos, has voted to maintain the sentence against Chesf. However, judges Robson Barbosa, Ângelo Passarelli and Alfeu Machado were in favor of the company. The holding company Ventos Potiguares wants compensation because Chesf delayed the delivery of a transmission line. Chesf, in turn, claims that the National Electric Energy Agency (Aneel) and the National Historical and Artistic Heritage Institute (Iphan) hampered the project, resulting in involuntary delay.
According to Paulo de Tarso, there is no law that deals with minimum interest rates nor that prohibits annual periodicity. "The rules of the Civil Code regarding interest rates are either merely supplementary in nature or establish a ceiling. Therefore, the sovereignty of the general meeting of creditors must be respected", states the minister. Regarding monetary correction, the minister Middle East Mobile Number List states that the STJ has several precedents affirming the legality of using the TR as a monetary index. "As the recovery plan presupposes the availability of rights on the part of creditors, nothing would prevent them from also providing for the monetary updating of their credits, assuming for themselves the risk of inflationary risk.
In this order of ideas, the clause would not be invalid of the recovery plan that would eliminate monetary correction on qualified credits, or that would adopt an index that does not reflect the inflationary phenomenon (such as the TR), as such provision of rights falls within the scope of the autonomy that the creditors' meeting has to dispose of of rights in favor of the recovery of the company in financial crisis", states the rapporteur.CREA-RO So far, the rapporteur, judge Josaphá Francisco dos Santos, has voted to maintain the sentence against Chesf. However, judges Robson Barbosa, Ângelo Passarelli and Alfeu Machado were in favor of the company. The holding company Ventos Potiguares wants compensation because Chesf delayed the delivery of a transmission line. Chesf, in turn, claims that the National Electric Energy Agency (Aneel) and the National Historical and Artistic Heritage Institute (Iphan) hampered the project, resulting in involuntary delay.