Court Orders R$ 3.6 Billion Seizure Against Former Billionaire Eike Batista, Who Faces Another Setback

Written by Flavia Marinho

Published on 20/07/2022 at 18:09

Updated on 20/07/2022 at 21:47

Eike Batista o homem que foi considerado pela Forbes o sétimo mais rico do mundo – Imagem Wordfinance

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“Eike does not have 3 billion reais. His house should be worth about 10 million, 15 million reais, at most. He does not have even close to that amount,” claims a source close to the businessman.

In a decision signed on Monday, June 20, in the 5th Federal Court of Tax Execution in Rio de Janeiro, it was determined to seize 3.6 billion reais from Eike. This process stems from an enforcement action filed by the Union against the businessman and the mining company MMX, which declared its bankruptcy in 2021. Eike, represented by the law firm Rennó Penteado Sampaio, can appeal. The information was published by journalist Malu Gaspar.

This case has been under confidentiality since November 2020. At that time, the businessman’s debts to the Union totaled 3.45 billion reais, according to the complaint filed by Renato Mendes Souza Santos, federal prosecutor, in the case files obtained by VEJA. On June 20, Judge Bianca Stamato Fernandes determined a credit reserve for the updated value of the debts – on June 9, that amount was R$ 3,622,491,046.40.

Creditors Fight Over Debentures Issued by Anglo American

In the wake of MMX’s bankruptcy, there is still a fight among creditors over the debentures issued by Anglo American in the businessman’s possession. The securities were put up for judicial auction, with a minimum bid of 350 million dollars.

ARTICLE CONTINUES BELOW

Eike Does Not Have 3 Billion Reais

“Eike does not have 3 billion reais. His house should be worth about 10 million, 15 million reais, at most. He does not have even close to that amount,” says a source close to the businessman. “The only asset of any value he has is this debenture.”

This process targeting the businessman this time refers to asset movements through corporate structures located outside Brazil. Until today, there is no jurisprudence from higher courts that requires taxation on this type of transaction. However, the Federal Revenue, however, believes that this type of operation is taxable and decided to move forward with the case against the former billionaire. The seizure is one of the first acts of the tax execution process. Soon, we will learn about the next steps in Eike Batista’s life.

Court Orders R$ 3.6 Billion Seizure Against Former Billionaire Eike Batista, Who Faces Another Setback

“Eike does not have 3 billion reais. His house should be worth about 10 million, 15 million reais, at most. He does not have even close to that amount,” claims a source close to the businessman.

Creditors Fight Over Debentures Issued by Anglo American

Eike Does Not Have 3 Billion Reais

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Court Orders R$ 3.6 Billion Seizure Against Former Billionaire Eike Batista, Who Faces Another Setback

“Eike does not have 3 billion reais. His house should be worth about 10 million, 15 million reais, at most. He does not have even close to that amount,” claims a source close to the businessman.

Creditors Fight Over Debentures Issued by Anglo American

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In just one cast, fishermen are surprised to capture 14,096 mullets in Bombinhas and close a historic season with 58,000 fish; scene recorded in the Santa Catarina paradise marks the last day of the 2026 season.

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