The Sao Paulo Business Court accepted Bradesco’s request and approved Americana’s forensic audit. The bank wants to investigate whether there was fraud in the management and presentation of accounts at the retail giant after the company filed for bankruptcy protection last week.Americanas can appeal the decision.
EY was appointed to assist investigators led by Patricia Pander.
They can seize the computers and access the emails of board members, audit committees, and general employees who have worked for the company in the last 10 years.
According to the financial newspaper Valor, Judge Andrea Galjardo Palma said the company had set up an independent commission of inquiry, but “given the various areas in which individuals could be held liable, the documentary evidence was destroyed. The risk of tampering or falsification is unlikely,” he justified the decision. of the agents (criminal, administrative, civil) involved in the alleged fraud;
The judge also reiterated that an arbitration court may decide on the matter, which would fall outside the jurisdiction of Rio de Janeiro’s business court, where bankruptcy protection proceedings are taking place.
Banco Bradesco and Banco Itaú are seeking ways to sabotage Americana’s bankruptcy protection and hold reference shareholders personally liable.
After several days of silence, a group of three Brazilian billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira have discovered “accounting discrepancies” in the company’s books that led to the current crisis. denied knowledge of If any facts are found as a result of the appraisal, major shareholders may be asked to testify.
Banks Safra and Banks Santander have also filed similar requests to Bradesco and are awaiting a court decision.