Post by xyz3800 on Feb 28, 2024 0:14:13 GMT -6
The decision, according to the company, is the result of legal uncertainty caused by the Federal Court of Auditors which, in 2018, prevented the extension of the company's contracts with Companhia Docas do Estado de São Paulo (Codesp). The company wanted to extend the contracts until 2035, however, due to a debt with Codesp, the TCU canceled the extension of the contract and ordered that a new tender be carried out, with the winning company having to take over until May 2020. "Unfortunately, due to the TCU's determination that the concessions operated by Libra at the Port of Santos be closed by May 2020, the port operation contracts with our shipping partners were not renewed and the services that were operated at Libra Terminais Santos will be transferred to another terminal in the Port of Santos", says the statement.
Billion-dollar debt In January, Grupo Libra was ordered to pay a billion-dollar debt to the port of Santos. The dispute, which had lasted 20 years, was decided by the Brazil-Canada Arbitration and Mediation Center (Cam-CCBC). The arbitration award recognized debt for operating terminals in the Port of Santos. The value of the debt estimated by Codesp is R$2.7 billion. The dispute began in 1998, when the group won the bid to explore the T-35. From the Exit Mobile Number List beginning, the company failed to pay the full amount of port fees, claiming that the structure delivered by Codesp was different from the one delivered. Therefore, the company went to court to discuss the contract. Codesp, in turn, represented by the firm Wald, Antunes, Vita, Longo and Blattner Advogados, claimed that it did not breach any of the contracts and that the lease did not become unbalanced over time.
There were preliminary decisions favorable to both, but the issue was not even decided in the second instance. In , to renew the contract, the parties decided to take the case to arbitration, and the issue was decided this Monday. Unanimously, the arbitration court understood that there is no just cause for the economic-financial rebalancing of the contract, with Grupo Libra having to pay in full the amounts defined in the contract, with monetary correction and interest, in addition to the fine provided for default. Due to the debt with Codesp, in May 2018 the Federal Court of Auditors judged the extension of the contract to be irregular and ordered that a new tender be carried out, with the winning company having to take over until 2020, when the Libra Group contract expires. The group, which was one of the main donors in former president Michel Temer's electoral campaigns, was even investigated in the ports inquiry, which investigates the alleged favoritism of companies linked to the port sector through a decree signed by Temer that extended concession at the Port of Santos.
Billion-dollar debt In January, Grupo Libra was ordered to pay a billion-dollar debt to the port of Santos. The dispute, which had lasted 20 years, was decided by the Brazil-Canada Arbitration and Mediation Center (Cam-CCBC). The arbitration award recognized debt for operating terminals in the Port of Santos. The value of the debt estimated by Codesp is R$2.7 billion. The dispute began in 1998, when the group won the bid to explore the T-35. From the Exit Mobile Number List beginning, the company failed to pay the full amount of port fees, claiming that the structure delivered by Codesp was different from the one delivered. Therefore, the company went to court to discuss the contract. Codesp, in turn, represented by the firm Wald, Antunes, Vita, Longo and Blattner Advogados, claimed that it did not breach any of the contracts and that the lease did not become unbalanced over time.
There were preliminary decisions favorable to both, but the issue was not even decided in the second instance. In , to renew the contract, the parties decided to take the case to arbitration, and the issue was decided this Monday. Unanimously, the arbitration court understood that there is no just cause for the economic-financial rebalancing of the contract, with Grupo Libra having to pay in full the amounts defined in the contract, with monetary correction and interest, in addition to the fine provided for default. Due to the debt with Codesp, in May 2018 the Federal Court of Auditors judged the extension of the contract to be irregular and ordered that a new tender be carried out, with the winning company having to take over until 2020, when the Libra Group contract expires. The group, which was one of the main donors in former president Michel Temer's electoral campaigns, was even investigated in the ports inquiry, which investigates the alleged favoritism of companies linked to the port sector through a decree signed by Temer that extended concession at the Port of Santos.