Union rejects renegotiating R$ 2.2 billion debt

The Union reported yesterday that it rejected a request from the owner of Itapemirim Transportes Aéreos (Ita), Sidnei Piva de Jesus, to renegotiate the group’s R$ 2.2 billion debt, which is undergoing judicial recovery.

At the end of last year, on the eve of Christmas, the company suspended its flights, leaving passengers with purchased tickets unable to travel. In financial difficulties, the company, which also operates in road passenger transport, stopped serving part of the routes.

The Union’s decision was expressed through a petition, to which the UOL had access, filed with the First Bankruptcy Court of São Paulo.

“Through its National Treasury Attorney, the Union informs the rejection of the proposal for an individual tax transaction filed by Ita. whose value, it is noteworthy, already exceeds the amount of R$ 2 billion”, says an excerpt from the document.

The decision states that Ita’s proposal was unfeasible and had no legal provision.

“Despite all the efforts of the National Treasury to find an alternative that would contribute to the economic recovery and social preservation of Ita, the tax authorities’ expectations remained frustrated in the face of the absolute legal infeasibility of the proposals, which were not supported by law”, highlights the petition, signed by Mariana Corrêa, prosecutor of the Treasury.

Airline suspension

Last week, Anac (National Civil Aviation Agency) prohibited Itapemirim from selling airline tickets again. Marketing was banned in December. The decision is valid as long as the company does not demonstrate compliance with corrective actions such as passenger re-accommodation and reimbursement.

The agency’s decision adds to the suspension of the Air Operator Certificate also in December. Without this document, the company is not authorized to fly.

Creditors fear not receiving

In the opinion of lawyer Bruno Valladão, a partner at Motta Fernandes Advogados and defender of a group of Itapemirim creditors, the Union’s decision tends to further harm the company’s financial health. According to him, Itapemirim has already failed to pay R$ 30 million to the group that the lawyer represents.

“Several creditors have made requests for the removal of the manager Sidnei. In August 2021, the Court of First Instance appointed an inspector with powers to prevent suspicious movements in the group’s accounts and determined the holding of a meeting of creditors to elect a new manager”, highlighted the lawyer.

At the end of last year, the CNJ (National Council of Justice) ordered judge Eduardo Azuma Nishi, from the São Paulo Court of Justice, responsible for the judicial recovery process of Itapemirim, to provide clarification on his role in the case.

The measure came after Andrea Cola, granddaughter of the founder of Itapemirim, Camilo Cola, complained about resource analyzes made by the judge. According to her, decisions made in secrecy prevented the manifestation of the defenses of Itapemirim’s creditors.

“Considering the content of the narrated facts, as well as the peculiar caution affecting the performance of the National Justice Department, it is salutary to investigate the exposed allegations to verify the possible occurrence of a functional fault during the conduct of the proceedings by a member of the Judiciary”, highlighted the determination of the CNJ internal affairs department.

wanted by UOL, the defense of Sydney Piva de Jesus no there was manifested until the last update of this report. In addition to the overdue credit, the creditors represented by Motta Fernandes are awaiting a decision on the assembly of creditors for the election of a new manager.

Airline creation was controversial

The decision to create an airline, in the midst of the covid-19 pandemic, caused distrust in the market, since the group was already in judicial recovery at the time, and the airline’s controlling group already owed more than R$ 2 billion alone. in taxes, according to a report by EXM Partners, the judicial administrator responsible for the process.

Despite the debts, the company spent more than BRL 29.6 million from September 2020 to the first quarter of last year, with the creation of the airline. In 2020, in a lawsuit questioning Itapemirim’s entry into the aviation market, the Court ruled that the company is free to conduct its business, as long as it respects the judicial recovery.

That same year, the group’s president announced a contribution of US$ 500 million from a fund in the United Arab Emirates. To date, however, it has not been confirmed whether this money reached the company, as the terms of the agreement are confidential.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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