Banco do Nordeste (BNB) has filed a complaint with Brazil's National Justice Council (CNJ) accusing three appellate judges from Paraíba of favoring lawyers with multimillion-dollar fees. The bank alleges that a legal case initially won for R$40 million later escalated into a R$60 million debt due to actions benefiting the lawyers. This accusation follows recent corruption concerns in Paraíba, including the controversial appointment of the state assembly president's daughter to the state Court of Auditors amid suspicions of her being a phantom employee. Meanwhile, Brazilian supermarket chain Grupo St Marche has requested approval for an out-of-court restructuring plan, revealing a debt of approximately R$528 million. The company aims to secure R$127.5 million in financing and reduce the stake of its controlling shareholder, a U.S.-based fund. St Marche referenced the Americanas case in its recovery filing, highlighting the challenges faced by large Brazilian retailers.
St Marche pede recuperação extrajudicial e revela dívida de quase R$ 530 mi https://t.co/YsLiV5IFT4
➡️ Com dívida de R$ 528 milhões, St Marche pede recuperação extrajudicial A estratégia do St Marche é obter um financiamento de R$ 127,5 milhões, diminuindo a participação do controlador do grupo, um fundo dos EUA Leia: https://t.co/suEL6oZC0v https://t.co/IYhzDe0jic
St Marche cita caso Americanas ao pedir homologação de recuperação extrajudicial https://t.co/lLUijLnG7S