Former banker Edemar Cid Ferreira, who gained notoriety with the bankruptcy of Banco Santos in 2005, wants to annul in court the agreements already made with the debtors of the bankrupt estate of the institution and with the administrator of the bankrupt estate, Vânio Cesar Pickler Aguiar.
Ferreira filed a request, this Monday (2), at the 2nd Chamber of Business Law of the Court of Justice of the State of São Paulo for the suspension of agreements. He argues that the adjustments made by the judicial administrator are “absurdly” inferior to the due.
The former banker asks that the current policy of agreements in force be extinguished as he understands that it would be “giving rise to an illicit enrichment of debtors and of Vânio Aguiar, who has a percentage of the receipts now agreed”.
The process has lasted 17 years and, according to the request filed by Edemar Cid Ferreira, most of the demands have already become final, that is, “there is no longer room for appeal, and they are in the process of complying with the sentences, not justifying the discounts on debts”.
The former banker claims to see legal maneuvers by debtor companies that, through multiple appeals filed in court, delay the payment of existing debts.
Edemar Cid Ferreira had already asked the Court to challenge the global appraisal report of the bankrupt estate’s credit portfolio, alleging that there was a discrepancy in the calculated values, a fact that would have harmed the creditors and him.
While the banker talks about BRL 18 billion in assets, the administrator accounts for BRL 2.5 billion, in what would be an attempt to devalue the assets.
The administrator of the bankrupt estate, Vânio Aguiar, was approached by the column to comment on the action, but said that as the matter is judicialized “it will await the decision of the Court”.
remember the case
Created in the early 1990s, with the Plano Real, Banco Santos had reputable clients, such as large companies, pension funds and middle-class investors.
Its bankruptcy was decreed in September 2005. At the time, the estimated loss due to “nefarious management” and “practice of illicit acts” at the institution was R$ 2.9 billion.
In order to try to pay off the debt, in addition to the agreements, the Justice determined the auction of the assets of former banker Edemar Cid Ferreira, which includes several works of art.
In 2019, the house that belonged to Ferreira was sold for BRL 23.3 million. The property was valued at R$ 76.8 million, but only received one bid in the auction made by Renato Moysés, from Superbid.