Non ci riguarda direttamente ma stanno facendo un po' di cancan in Europa sul caso banche e OI/PT .Dateci un'occhiata.
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I principali indici azionari hanno vissuto una settimana turbolenta, caratterizzata dalla riunione della Fed, dai dati macro importanti e dagli utili societari di alcune big tech Usa. Mercoledì scorso la Fed ha confermato i tassi di interesse e ha sostanzialmente escluso un aumento. Tuttavia, Powell e colleghi potrebbero lasciare il costo del denaro su livelli restrittivi in mancanza di progressi sul fronte dei prezzi. Inoltre, i dati di oggi sul mercato del lavoro Usa hanno mostrato dei segnali di raffreddamento. Per continuare a leggere visita il link
Inviato dal nostro collega portoghese Fernando:
Hi. Viana decision of a few days concerning the rights of dutch administrators.
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State of Rio de Janeiro Judicial Branch Court of justice Comarca of the Capital Office of the 7th Business Court Av. Erasmo Braga, 115 Lna Central 706CEP: 20020-903 - Centro - Rio de Janeiro - RJ Tel .: 3133 2185 e-mail: Cap07vemp@tjrj.jus.br 110 FERNANDOVIANA Fls. Process: 0203711-65.2016.8.19.0001 Electronic Process Class / Subject: Judicial Recovery - Judicial Recovery Author: OI SA Author: TELEMAR NORTE LESTE SA Author: OI MÓVEL SA Author: COPART 4 PARTICIPAÇÕES SA Author: COPART 5 PARTICIPAÇÕES SA Author: PORTUGAL TELECOM INTERNATIONAL FINANCE BV Author: OI BRASIL HOLDINGS COÖPERATIEF UA Interested: ATTORNEY FEDERAL JUNTO ANATEL Interested: BANCO DO NORDESTE DO BRASIL SA Receiver: ARNOLDO WALD ADVOCACY OFFICE Interested: CHINA DEVELOPMENT BANK COORPORATION Interested: GLOBNET CABOS SUBMARINOS SA Interested: PRICEWATERHOUSE COOPERS BUSINESS ADVISORY Legal Representative: JOSE MAURO FERNANDES BRAGA JÚNIOR Interested: GOLDENTREE DISTRESSED FUND 2014 LP AND OTHERS Interested: PTLS TECHNOLOGY SERVICES AND TECHNICAL ASSISTANCE LTDA MAZZINI ADMINISTRAÇÃO LTDA Interested: TIM CELULAR SA AND OTHERS ___________________________________________________________ On this date, I make the final conclusions to the MM. Dr. Judge First Name 12/05/2017 Decision At pages 1888,799 / 188,818, the Reclaimers informed the Court that the Dutch Court Proceedings brought by foreign creditors to Suspension procedures for payment required by Oi Brasil Holdings Cöoperatief UA (FINCO) and Portugal Telecom International Finance BV (PTIF). The court declared the bankrupcy and requested several measures, of a provisional and urgent nature, with regard to judicial administrators Appointed by the Court of the Netherlands. Figs. 198.102 / 198.120, the court administrators appointed by the Dutch court contested The preliminary claim of the Recuperandas, as did the foreign creditors CAPRICORN and Others to fls. 198,180 / 198,202. By granting the processing of the application for judicial recovery of these two companies, I In a reasoned decision not modified by the Superior Court that: "In this line of reasoning, bearing in mind that the Courthas already decided, in a similar case, that it is legally possible to Processing of judicial reorganization, with the extension of its effects, to the subsidiaries I understand that this understanding should be applied to the case Two cars It is also worth noting that the current Code of Civil Procedure in articles 26 and 27 adopted, As a general principle, International Cooperation, whose objective was the systematization of norms and Principles accepted by international procedural doctrine, in order to facilitate the Settlement of civil transactional conflicts, mainly those resulting from global trade, since the Need to produce acts in one country for compliance in another and vice versa Increasing internationalization of the economy, the strengthening of which is undoubtedly universal. All this narrows the possibility of processing the recovery of society Foreign businesswoman, with no branch in Brazil, since the idea reinforces the constitutional principle of Legal security, while the concern to adequately safeguard the rights and obligations of the Interests of all concerned, in an individual or collective dimension, will be facilitated and Widely simplified. For all of the foregoing, with observance of the case-law, the interpretation And equity - in its dual function of suppressing the And legislative assistance to achieve meaning and scope in legal provisions to serve the Application of the law - in order to ensure that the Business activity provided for in Law 11,101 / 2005, coupled with the perspective arising from the Application of International Legal Cooperation in Brazilian Law, I DECLARE the legitimacy Of the foreign subsidiaries forming the "GRUPO OI" to formulate the request for Judicial reorganization in the host State of the constitution of its parent company, this one established in the Rio de Janeiro state" In the course of the proceeding, upon accepting the request for the Recovery of ADRs, I Bankruptcy of Dutch companies would be detrimental to the judicial: "Prefacially it is necessary to clarify that, although it is running parallel in the Court of Justice the suspension of payments procedure with a view to safeguarding Interests of international creditors in the face of debts contracted by FinCo and PTIF, the Decisions handed down in the present judicial reorganization - which included the debtors mentioned - Have strictly observed the country's legislation in force, and have already been received by other Countries. And although this has not been the case in the Dutch courts, there is no At any time, no decision of the High Court to make any decision of that country prevail. In relation to the already processed. The reported behavior of said judicial administrators, Principle, it intends not to adhere to any of the terms of the negotiations which fall under the Context of the company, and therefore there is a need to adopt effective measures by the Of this judgment, in order to protect, the UNIVERSALITY OF CREDITORS INVOLVED, therefore only through INTERNATIONAL COOPERATION, and with the Mutual trust between cooperating states where Debtors are undertaken, it is possible to guarantee the highest principle of the preservation of Company, as well as the satisfaction of all creditors, all as Justification for the decision that granted Judicial Recovery. Having made these considerations, The Court of Citizenship, which is responsible for the Judicial decision on all matters involving the assets of Judicial Recovery, even if not directed towards the payment of creditors (see CC 145027 / SC, AgInt AREsp. 767698 / SP, AgRg 141719 / MG and AgRg in CC 143802 / SP). The reason for The supremacy of this position, according to the Minister Luis Felipe Salomão in rendering his vote in AgInt AREsp.767698 / SP, is the concentration, in the judgment of judicial recovery, of all decisions Assets of recuperanda, in order not to jeopardize the attempt to keep it in Operation, in order to observe the principle of preservation of the company (article 47 of the Law. 11,101 / 2005). 198410
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State of Rio de Janeiro Judicial Branch Court of justice Comarca of the Capital Office of the 7th Business Court Av. Erasmo Braga, 115 Lna Central 706CEP: 20020-903 - Centro - Rio de Janeiro - RJ Tel .: 3133 2185 e-mail: Cap07vemp@tjrj.jus.br 110 FERNANDOVIANA The facts reported denote the existence of a serious threat and injury to the right not only of the debtors, As well as of all universality of creditors subject to RJ (...) The elements brought to the The crystalline nature of the probability of the formulation of the bankruptcy Companies FinCo and PTIF on the part of the international judicial administrators to the Justice Holder, in complete estrangement and contrary to the dictates of judicial recovery of Companies here deferred. It will be evident, and for all, that the Of the decree of breach, if this is done, with obvious detriment to the success of the recovery judicial." Finally, as far as the subject is concerned, I defer, in the wake of the AJ demonstration: "The participation of the Dutch Administrators in the present recovery process in Representatives of the interests of the creditors of foreign companies Finco and PTIF And not as managers of those companies. " Well. At this moment, the Court is called once again to rule on the matter, taking into account In view of the recent Dutch decision which converted the suspension of payment of Subsidiaries FINCO and PTIF in bankruptcy. The issue is that, with the decree of bankruptcy of said companies, the rights and obligations The Dutch Judicial Administrators and the managers of the subsidiaries became, in principle, Irreconcilable. Dutch AJs have been appointed by Dutch Justice and have rights and Obligations under Dutch law and not under Brazilian law. The rights and obligations of Managers of FINCO and PTIF are provided for in Brazilian law and not in Dutch law. The theme is new and deserves coping. The first point worth mentioning in this analysis is that the FINCO and PTIF companies are mere Financial instruments created by the OI Group to raise funds abroad in order to Finance its productive activities. These are wholly-owned subsidiaries established in the Netherlands without any Operational activity. Oi Group's operating activity is in Brazil. This is the main Companies in Recovery; Here is situated the wealth-generating activity, the center of Interests that justifies, in theory and in practice, the creation of a system of protection for companies. This is the appropriate forum for the reorganization process. And, therefore, I believe that all matters relating to the holding company and its subsidiaries should be Decided in accordance with Brazilian law. Brazilian law does not allow any jurisdiction Competitor of a foreign judicial authority or equivalent when the insolvent debtor Has its principal place of business in Brazil. It is a matter of sovereignty and public order. Nor, as foreign creditors and judicial administrators claim, can such a Understanding would violate arts. 9 and 11 of the Law of Introduction to the Norms of Brazilian Law, as such Rules are of a general nature, which do not apply to the special hypothesis under analysis, which is By the Bankruptcy and Recovery Law, which attributes to the court 198411
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State of Rio de Janeiro Judicial Branch Court of justice Comarca of the Capital Office of the 7th Business Court Av. Erasmo Braga, 115 Lna Central 706CEP: 20020-903 - Centro - Rio de Janeiro - RJ Tel .: 3133 2185 e-mail: Cap07vemp@tjrj.jus.br 110 FERNANDOVIANA To decide on all issues involving the assets of the recovering companies, Including assets that are abroad. By not carrying out any operational activity, any organized economic activity For the production or circulation of goods and services (which characterizes According to art. 966 of the CC), foreign vehicles - wholly owned subsidiaries Brazilian operations - should be understood as what they are: mere assets, simple Vehicles built to enable the financial transactions of the In Brazil, and there is no reason to act independently and contrary to the Interests of its parent. The second aspect that needs to be remembered is that the decision that Judicial reorganization of the seven OI Group companies, including the two Dutch companies, Was not reformed by the Superior Courts. In addition, the decision found international protection, The United States, the United Kingdom and Portugal, who acknowledged and acknowledged the Brazilian judicial reorganization, thus ensuring the necessary protection for companies in Crisis in foreign territory. The Netherlands was the only country that disagreed with this understanding, having reached the Bankruptcy of Dutch companies, as if independent and operating companies Were, causing the imbroglio that is now analyzed. Although the Court respects the decision of the Dutch court, it is certain that the subsidiaries there Created, without any economic activity, are attracted by those who effectively generate wealth, Produces goods and services and needs protection, guaranteed by Brazilian law and by decision of this Judgment. The third aspect of extreme relevance is that, in order to have effects in Brazil, the Must be homologated by the E. Superior Court of Justice, under the terms of art. 105, I, "I", of the Federal Constitution and of art. 961 of the CPC. This approval is closely related to the idea of international cooperation between the With the objective of ensuring compliance in their territories with measures taken by a Foreign State. In the present case, there is no evidence that the judgment which ordered the bankruptcy of FINCO and PTIF Has been approved by the STJ. Thus, there is no way to admit, in the Brazilian territory, any Effectiveness of that decision. No repercussions, whether legal, factual or practical, May be accepted in Brazil before the homologation of the sentence before the STJ. The Brazilian jurisdiction and jurisdiction of this Court for the judicial recovery of the Group companies OI then remain unshaken. At this point it does not convince the argument of the CAPRICORN fund and others that it would Unnecessary the homologation of the sentence by STJ, because the case would only be for recognition Of a situation in fact of the Recuperandas, that is, that today they are represented by new Trustees. These new trustees were rightly appointed by the Dutch As a consequence of the decision that ordered the bankruptcy of FINCO and PTIF. It is not, then, mere Administrative change. I understand that protection should be given to the UNIVERSALITY OF CREDITORS, not just the Creditors. The protection of companies in recovery, their assets and Creditors in general, must continue until the COLLECTIVITY of 198412
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State of Rio de Janeiro Judicial Branch Court of justice Comarca of the Capital Office of the 7th Business Court Av. Erasmo Braga, 115 Lna Central 706CEP: 20020-903 - Centro - Rio de Janeiro - RJ Tel .: 3133 2185 e-mail: Cap07vemp@tjrj.jus.br 110 FERNANDOVIANA Creditors of the recovery plan already submitted by the debtors. This protection, even, must be preserved in Brazil and abroad. If said sentence Has no efficacy for the time being in Brazil and therefore does not affect this Main proceeding, much less should it be effective in other Which are the non-main proceeding. To allow Dutch Judicial Administrators to act and act on behalf of companies in The directors appointed by the parent holding company is a reversal of the Roles, since the subaltern society would rise to a level it never had and would never have. A solution of this nature is not allowed in any country in the world, since the personality Is not an end in itself; She always succumbed to reality. And reality is one: the Brazilian economic activity attracts competence and is the only one able to make money Payment of creditors. The process of serious judicial recovery does not entail a disturbance caused by companies that, Though bankrupt, are nothing more than paper societies. The essence has to prevail. This judgment has already assured the Dutch Judicial Administrators the right to petition In the interests of creditors. And this decision now is reiterated as an expression of the Brazilian legal capacity to process the judicial recovery of the Oi Group, without However, that the right conferred on them should be extrapolated. The statutory administrators of FINCO and PTIF are therefore maintained, and all Acts practiced in the position. They are assured of the right-duty to practice the management acts that Within and outside the judicial recovery process. The decision handed down in the Netherlands Does not change the current situation, either in the corporate aspect or in the administrative aspect. Thus, I shall confine the requests made to fls. 188,816 / 188,818 in order to: (I) OI the prerogative of exercising its powers of controlling the companies Hi Brazil Holdings Cooperatief UA, in Judicial Recovery, and Portugal Telecom International Finance BV, under judicial reorganization, to the extent that the parent company's right to property Is not affected by a decision that has no effect in the country; (Ii) recognize that the statutory administrators of FINCO and PTIF retain their powers Management, and the acts already performed in the context of judicial Brazil and abroad, and also the acts that will be practiced, in the future, in the regular exercise Of the power of administration, except for eventual jurisdictional control in this regard; (Iii) recognize that the powers of FINCO and PTIF to appoint lawyers and Representatives to work in Brazil and abroad, in or out of court, with special mention The foreign representative in the United States, in the process provided for in Chapter 15 of the Who may continue to practice acts regularly; (Iv) recognize that the acts already practiced by attorneys-in-fact are valid, with the exception of Judicial control in this regard; and (V) determine, under penalty of a fine of R $ 300,000.00 per event of noncompliance, that the The Dutch, Messrs. Jasper Berkenbosch and JLGroenewegen respect the decisions of the Brazilian law, in its entirety and, among others, abstain from practicing any act aimed at: (A) impose or inhibit any action or omission of the directors of FINCO or PTIF or any representative 198413
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State of Rio de Janeiro Judicial Branch Court of justice Comarca of the Capital Office of the 7th Business Court Av. Erasmo Braga, 115 Lna Central 706CEP: 20020-903 - Centro - Rio de Janeiro - RJ Tel .: 3133 2185 e-mail: Cap07vemp@tjrj.jus.br 110 FERNANDOVIANA Or person related to them in connection with this judicial reorganization and to creditors and creditors She or him, including those defendants in favor of the creditors of the foreign Relation to the directors of FINCO and PTIF recoveries; (B) to practice or cooperate with the practice of any act tending to encumber, assign, transfer or otherwise To dispose of FINCO and PTIF's assets in any jurisdiction, Payment of ordinary expenses, all under penalty of personal responsibility; and (C) use the FINCO and PTIF cash to pay attorneys' fees, Brazilian Foreigners who acted and worked for the conversion of bankruptcy of Dutch companies. Post it. Intimidate the administrators appointed by the Dutch court, Mr. Jasper Berkenbosch and Mr. J. LM Groenewegem, for the purposes of this decision in the person of Dr. Laura Mendes Buomchar OAB / SP 285,255-A and 102,691. Personal science to the Public Prosecutor's Office. Rio de Janeiro, 05/05/2017. Fernando Cesar Ferreira Viana - Chief Judge
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A quanto si capisce il giudice brasiliano Viana contesta e ridimensiona l'ultima decisione del tribunale olandese
questa e' la parte interessante..............
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Ebbene, la Corte è nuovamente chiamata a pronunciarsi sulla questione, tenendo conto della recente decisione olandese che ha trasformato in bancarotta la sospensione del pagamento delle controllate FINCO e PTIF. Decreto fallimentare di dette società, i diritti e gli obblighi Gli amministratori giudiziari olandesi ei dirigenti delle società controllate sono diventati, in linea di principio, inconciliabili. I Paesi Bassi olandesi sono stati nominati dalla giustizia olandese e hanno diritti e obblighi ai sensi della legge olandese e non sotto il diritto brasiliano. I diritti e gli obblighi dei Dirigenti di FINCO e PTIF sono previsti nella legge brasiliana e non nella legge olandese, il tema è nuovo e merita di affrontare il problema, il primo punto da sottolineare è che le società FINCO e PTIF sono semplici strumenti finanziari Dal Gruppo OI per raccogliere fondi all'estero al fine di finanziare le proprie attività produttive: le società controllate a pieno titolo con sede in Paesi Bassi senza alcuna operazione Attività. L'attività operativa del Gruppo Oi è in Brasile. Questa è la principale azienda in recupero; Qui si trova l'attività che genera ricchezza, il centro degli interessi che giustificano, in teoria e in pratica, la creazione di un sistema di protezione per le imprese. Questo è il forum appropriato per il processo di riorganizzazione. E, pertanto, ritengo che tutte le questioni relative alla holding e alle sue controllate debbano essere decise in conformità alla legge brasiliana. La legge brasiliana non consente alcuna competenza Concorrente di un'autorità giudiziaria straniera o equivalente quando il debitore insolvente ha il suo principale luogo di attività in Brasile.
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in parole povere sta' dicendo che chi comanda e' il Brasile e che le controllate olandesi altro nn erano che degli "specchi x allodole" x attirare capitale estero..
e bravi fdp che nn siete altro..!!!
E'VERGOGNOSO!!! tutto vergognoso
Certo che lo è, ma quel che pensa Viana non è Vangelo. Voglio vedere se nel resto del mondo funziona come dice lui. I soldi per saldare i debiti in Olanda li aveva versati altice ed erano vincolati. Sono stati fatti partire da Lisbona direttamente per le Bahamas dove altice tra l'altro ha una finanziaria. 3 miliardi sono stati trasferiti a Oi un paio di giorni prima di entrare in rj. Qualcosina che non quadra forse c'è e di sicuro non è una questione interna al Brasile di cui possa occuparsi esclusivamente un giudice in odore di corruzione , come dimostrerebbero delle intrcettazioni telefoniche tra lui e il fratellino
questa e' la parte interessante..............
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Ebbene, la Corte è nuovamente chiamata a pronunciarsi sulla questione, tenendo conto della recente decisione olandese che ha trasformato in bancarotta la sospensione del pagamento delle controllate FINCO e PTIF. Decreto fallimentare di dette società, i diritti e gli obblighi Gli amministratori giudiziari olandesi ei dirigenti delle società controllate sono diventati, in linea di principio, inconciliabili. I Paesi Bassi olandesi sono stati nominati dalla giustizia olandese e hanno diritti e obblighi ai sensi della legge olandese e non sotto il diritto brasiliano. I diritti e gli obblighi dei Dirigenti di FINCO e PTIF sono previsti nella legge brasiliana e non nella legge olandese, il tema è nuovo e merita di affrontare il problema, il primo punto da sottolineare è che le società FINCO e PTIF sono semplici strumenti finanziari Dal Gruppo OI per raccogliere fondi all'estero al fine di finanziare le proprie attività produttive: le società controllate a pieno titolo con sede in Paesi Bassi senza alcuna operazione Attività. L'attività operativa del Gruppo Oi è in Brasile. Questa è la principale azienda in recupero; Qui si trova l'attività che genera ricchezza, il centro degli interessi che giustificano, in teoria e in pratica, la creazione di un sistema di protezione per le imprese. Questo è il forum appropriato per il processo di riorganizzazione. E, pertanto, ritengo che tutte le questioni relative alla holding e alle sue controllate debbano essere decise in conformità alla legge brasiliana. La legge brasiliana non consente alcuna competenza Concorrente di un'autorità giudiziaria straniera o equivalente quando il debitore insolvente ha il suo principale luogo di attività in Brasile.
-----------------
in parole povere sta' dicendo che chi comanda e' il Brasile e che le controllate olandesi altro nn erano che degli "specchi x allodole" x attirare capitale estero..
e bravi fdp che nn siete altro..!!!