English 
Francês 
Alemão 
Italiano 
Japonês 
Norueguês 
Portuguese 
Spanish 
4 min of reading 
Million-Dollar Judgment Against Botafogo By Constructor Odebrecht Threatens Not Only Club Headquarters But Also Palace, Social Area, Broadcasting Shares Among Other Things
On the 28th, Odebrecht’s lawyers presented a request to the Court of Justice of Rio de Janeiro for an urgent order to seize the headquarters of Botafogo, including the palace and the social area of the club, on Rua General Severiano. Botafogo also runs the risk of losing amounts related to broadcasting shares of its matches and percentages on the rights of some players.
Read Also
- Niobium Instead of Lithium Revolutionizes and Becomes a Solution to Increase the Capacity and Lifespan of Electric Car Batteries
- World’s Most Powerful Tidal Turbine Comes Online and Creates a New Global Low-Carbon Industrial Sector in the Fight Against Climate Change
- After Halting Vehicle Production and Closing Its Factories in Brazil, Ford Sees Hundreds of 0 km F-150 Pickups Being Destroyed in Train Accident
- Australian Oil and Gas Multinational Worley Calls for Technicians for Job Openings in Rio de Janeiro on August 7
- Scania, a Global Leader in Heavy Truck, Bus, and Engine Production, Just Implemented 40 Electric Lithium-Ion Forklifts at Its São Paulo Facility, Responsible for Storing and Supplying Spare Parts for All of Latin America
The seizure of the property would honor part of Botafogo’s debt. The contractor is demanding R$ 53,362,122.00 for a loan made in 2013. During that period, Botafogo received R$ 30 million from Odebrecht under a contract for the closure of Estádio Olímpico Nilton Santos for structural works.
In March of this year, Judge Paula de Menezes Caldas of the 49th Civil Court accepted the contractor’s request. The case has been dragging through Rio’s courts since 2017. Information comes from O Globo.
-
Abandoned house for 15 years disappears in the woods, shocks owner with unrecognizable scenery and is reborn in an intense transformation after almost 90 hours of work in just 10 days.
-
In just three hours, a natural stone floor transforms the entrance of the house with an organic effect, immediate drainage, and a sophisticated non-slip finish that doesn’t puddle water, dries quickly, and impresses with the final result.
-
‘Interlocking brick’ made of earth arrives in the construction industry with cost reductions of up to 40% on the project.
-
Espírito Santo will receive the largest engineering project in its history with the duplication of BR 262, which will have 50 viaducts, 28 bridges, and 2-kilometer tunnels cutting through the most challenging mountainous region of the entire state.
With 26 Active Contracts in Brazil and Abroad, Odebrecht Aims to Rebound and Earn $1.1 Billion in 2021
Odebrecht plans to make a comeback and close the year 2021 with $1.1 billion in revenue! Almost six years after Marcelo Odebrecht’s imprisonment, which ruined the contractor, the group is trying to rebuild the company with new projects and a potential partner to help finance the recovery, as announced by us at Click Petróleo e Gás
Odebrecht Engineering and Construction (OEC) saw its revenue and portfolio shrink rapidly as a series of financial problems arose, such as the maturity of debts after corruption schemes involving the company came to light.
Far from the “fat times” when the company had contracts with mega-infrastructure projects that made it one of the giants in the world, Odebrecht is undergoing financial restructuring and aims to secure new construction contracts.
Odebrecht reached a revenue of R$ 32.4 billion in 2014, boosted by the World Cup and Olympics projects, which represents a totally opposing scenario faced by the company in 2020, where revenues were only 10% of that amount, meaning the company earned $600 million, about R$ 3.3 billion.
Odebrecht Has 26 Active Contracts in Brazil and Abroad and Aims to Finish 2021 With $1.1 Billion in Revenue
Currently, Odebrecht has 26 active contracts, of which 15 are in Brazil and 11 abroad in countries such as Panama, Peru, Argentina, Guyana, Angola, Ghana, and the United States.
Additionally, the company has secured six projects in the last 12 months. The president of the construction company, Marco Siqueira, is optimistic and expects to double revenue this year to $1.1 billion, about R$ 6 billion.
The contractor has 131 projects worth R$ 17 billion in the pipeline for exploration; however, with limited financial power, Odebrecht faces challenges in securing guarantees and participating in all market bids.
“The name of the game now is to win new contracts.” The executive acknowledges, however, that conditions will be different. Besides the size of the contractor, there is a new reality of projects in the country: mega-projects have given way to smaller and more widespread projects.
U.S. Department of Justice (DoJ) and the Federal Public Prosecutor’s Office Ended Monitoring
Unlike the past, when OEC only competed for large bids, the current goal is to increase the project portfolio. “But we should focus on contracts above R$ 150 million,” Siqueira says. At the end of last year, the U.S. Department of Justice (DoJ) and the Federal Public Prosecutor’s Office ended the external monitoring carried out on the group for four years.
The oversight work was part of the leniency agreement made in 2016 with the DoJ and Brazilian and Swiss authorities. Attorney Otavio Yazbek, who was the Brazilian monitor at the company, believes that those hiring Odebrecht require some additional security. “But I understand that the company is capable of demonstrating the advancements and what is in effect, and that is the most important thing to face the risks and challenges of new business lines.” Information comes from the newspaper O Estado de S. Paulo.
Send Your Resume to the Odebrecht Group
To register your resume and stay updated on job openings at the companies that are part of the Odebrecht group, just Click this link. You will be redirected to a page where you will find the main companies of the Odebrecht Group, including OEC.
Seja o primeiro a reagir!