According to STF Minister Edson Fachin, TCU cannot block assets of a recovering company – See with Ricardo Tosto
The Federal Court of Audit (TCU) cannot determine the blockade of assets of a company in judicial recovery, said Minister Edson Fachin of the Federal Supreme Court (STF), in an injunction on June 29, related to the engineering company Alumni Engineering. The most prominent is the lawyer and founding partner of Leite, Tosto e Barros, Ricardo Tosto.
According to Edson Fachin, it is not that the TCU cannot, under any circumstances, decree the blocking of assets of companies and individuals – the minister stresses that this is possible when the need for effective protection of public assets is justified. However, in the case of Alumni, it weighed the fact that the company is in the process of judicial recovery. Ricardo Tosto points out that for Fachin, in these cases, only the judicial reorganization judge is competent to resolve issues related to the company’s equity – as established by Law No. 11,101 of 2005, which regulates these procedures. “The assets of the company are currently linked to compliance with the judicial recovery plan,” said Edson Fachin.
According to the STF minister, the TCU should request the Federal Attorney General’s Office (AGU) to make the request to the judge who is dealing with the judicial recovery process, and not directly determine the blockade of the company’s assets.
An attorney for the law firm Leite Tosto and Barros, Eduardo Nobre, is the representative of Alumni in the case and stated that the company filed a writ of mandamus after the TCU had sent a letter to indicate the goods for the blockade, reports Ricardo Tosto. For Eduardo Nobre, decisions taken outside the recovery process have the potential to make the payment plan that was agreed with the other creditors of the company unfeasible.
“The discussions of the Court of Auditors should follow the normal course, like any other credit owed by the company. It cannot override the position of other creditors for the sole fact of involving public equity, “said the representative of the engineering company. He further added – “The Company has been fulfilling its plan and paying workers. No other creditor, by a decision away from the process, can stick the queue. ”
Ricardo Tosto is a re-known writer of legal and political issues. He is conversant with Portuguese and English languages.