Home Uncategorized Cashier asks for lockout of Corinthians Arena accounts


Cashier asks for lockout of Corinthians Arena accounts

by Ace Damon
Cashier asks for lockout of Corinthians Arena accounts

THE Federal Savings Bank requested to block the accounts of the Corinthians Arena because of the debt of the stadium construction work. The information, initially published by the newspaper O Estado de S. Paulo, was confirmed by Folha on Wednesday night (2).

On August 22, the state bank filed a enforcement action to charge R $ 536,092,853.27 and request the inclusion of Arena Itaquera fund in Serasa. In the absence of any payment, Caixa requested on the last day 23 to block the fund accounts.

"The procedural stages, with the execution of guarantees, are legally provided for the satisfaction of credit. Caixa remains open to conciliation," the bank said in a statement.

The request for blocking is in the hands of Judge Victorio Giuzio Neto, the 24th Federal Civil Court of São Paulo, since Tuesday (1st). There is no deadline for a decision to be made.

Corinthians recognize debt, but disputes the value and tries a deal with the Box. On Tuesday (1), club lawyers and bank managers met. There will be a new meeting with the directors of the state, this time with the presence of Andrés Sanchez, president of Corinthians.

According to Sanchez, the debt is $ 470 million. For Caixa, the amount of about R $ 536 million is the sum of the principal debt, of R $ 487,357,139.34, with R $ 46,797,165.08, the result of a fine.

Clause 16 of the contract, signed in November 2013 by then President Mário Gobbi, says that in case of judicial recovery, the Arena Itaquera background You will need to pay 10% of the principal amount of the debt, plus legal and extrajudicial charges and attorney's fees.

In the documents submitted by the Cashier In the debt execution request, the bank details the payment flow of the 2019 debts. There is no information on repayments made by Corinthians as of July 2015, when the grace period given by Caixa ended and the installments began to apply, until December 2018.

On May 15, 2019, the club settled the January installment. On August 13th, February. The others were in default. THE Corinthians paid, in 2019, according to the spreadsheet presented by Caixa, R $ 13,007,670.27 out of a total debt of R $ 46,797,165.08. It became debtor at R $ 33,789,494.81.

In the blocking request, the state bank states that Arena Itaquera fund has not paid any debt since the distribution of the enforcement action and has not reported any assets for attachment.

"This time, it requires continuation of the feat, through the online attachment of values ​​via the Bacenjud system (which integrates justice to the Central Bank and banking institutions), becoming unavailable financial assets to the limit of debt," says the document signed by lawyers Joice Aguiar Ruza and Claudio Yoshihito Nakamoto.

The club said it was taken aback by the bank's initiative. Leaders claimed to be in debt renegotiation. In the process in which it sought judicial authorization for execution, Caixa's lawyers claimed to have exhausted all friendly attempts to close a deal.

On September 13, Andrés Sanchez sent a letter requesting a hearing with Pedro Guimarães, president of Caixa. In an interview with Folha, the bank executive said he did not oppose a renegotiation, but that Corinthians should present a "great justification" for the default.

Sanchez and Guimarães spoke by telephone after notification. The conversation was brokered by the president of the Chamber of Deputies, Rodrigo Maia (DEM-RJ). A friend of the president of Caixa, he asked Guimarães for authorization to pass his mobile number to the Corinthian leader.


Can Corinthians lose the stadium?
Running out of the stadium to play their matches is an unlikely scenario.

According to the guarantees given, Caixa may be entitled to Itaquerão's revenues, quotas in the fund that administers the arena and two registrations (real estate) of Parque São Jorge in case of non-payment of the financing.

Another guarantee, which was given by OPI (Odebrecht Participações e Investimentos, subsidiary of the contractor), is no longer valid because of the judicial recovery process through which the holding company.

Who financed the construction work?
Corinthians has made a financing with BNDES. Caixa endorsed the loan and was the money repassador. Most of the value of the work was paid by Odebrecht.

What is Itaquerão's total debt?
For the stadium to be ready, at the beginning of 2014, more than R $ 985 million (R $ 1.3 billion in updated values) was spent. Adding interest and financing with Caixa, this amount exceeds R $ 1.6 billion (according to Odebrecht projection); There is disagreement between the parties as to the final amount.

How much has been paid?
So far, Corinthians says it has transferred to Caixa R $ 158 million. In addition to debt with the bank, it has debts with Odebrecht. Both parties disagree on the amount to be paid. The construction company recently charged R $ 800 million from the club, which claims that part of the work has not been completed and proposes to assume the company's debt with BNDES, of R $ 470 million. According to Corinthians president Andrés Sanchez, the team would pay R $ 160 million to the construction company.

Is Corinthians the sole owner of the arena?
Arena Corinthians is managed by a fund with three shareholders, Corinthians, Odebrecht (via OPI, acronym for Odebrecht Participações e Investimentos) and Arena Itaquera SA, of which the contractor itself and BRL Trust, the equity management company, are shareholders. funds.

When does the club intend to repay the work?
Corinthians states that it maintained the initially expected term of 12 years, due in 2028.

What revenue do you want to pay?
The main source of revenue is the box office. In this year's budget, the club expects to raise $ 100 million with games and other events.

. (tagsToTranslate) arena corinthians (t) corinthians (t) itaquerão (t) box (t) debt (t) sheet


Related Articles

Leave a Comment

sixteen − 8 =

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More