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Odebrecht and Petrobras, Braskem’s Shareholders Must Deposit At Least 15% of the Initial Amount Sought for Damages Caused in the Municipality of Maceió
The Federal Public Ministry (MPF), through the Task Force monitoring the Pinheiro Case in Alagoas, filed a public civil action (ACP), requesting an injunction against the chemical and petrochemical company Braskem S.A., for the cracks and sinking in the neighborhoods of Pinheiro, Mutange, and Bebedouro in Maceió.
There is a geological fault in the region, and the company should have conducted tests before drilling and mining, which began in the 1970s.
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The agency requests compensation of at least R$ 20.5 billion for the damages caused in the municipality of Maceió, with Braskem and its shareholders Odebrecht and Petrobras required, as a temporary measure, to deposit R$ 3.075 billion, or 15% of the initial amount sought, into a private fund.
Braskem is currently controlled by Odebrecht, which holds 38.3% of the shares and 50.1% of the voting capital of the petrochemical company. Petrobras holds 36.1% of the shares and 47% of the voting capital.
“It will also be the companies’ responsibility to maintain operating capital in the fund never less than R$ 2 billion or, after defining the physical and financial schedule for the reparation, at 100% of the expected costs for the following 12 months,” says the MPF’s statement.
At the end of June, the Superior Court of Justice (STJ) released R$ 3.7 billion in Braskem’s funds, in a decision favorable to the petrochemical company in another legal case against the company.
Last week, the Federal Regional Court of the 5th Region, in Recife, determined that the lawsuits against the petrochemical company are under the jurisdiction of the Federal Court.
In order to prevent Braskem from continuing to operate with the same problems, subjecting the population to damages of the same kind, the MPF requires the implementation of an independent audit to evaluate the company’s corporate governance. If Braskem does not hire an external audit, the obligation will fall subsidiarily on Odebrecht and Petrobras.
The MPF requests monitoring of Braskem’s operational structures, which includes routine sonar studies, topographic campaigns, geomechanical studies, measures for the proper maintenance of mines, and constant monitoring of water exploitation wells, aiming at water security.
Braskem has not yet commented on the new lawsuit.
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