Brazil Congress proposes market regulations after Americanas scandal
BRASILIA (Reuters) – Federal lawmakers in Brazil suggested several measures to boost accountability in the financial market, a report showed on Monday, after retailer Americanas this year revealed a multi-billion-dollar fraud. In…
Brazil watchdog offers plea deals to Americanas employees in fraud probe
SAO PAULO (Reuters) – The president of Brazil’s securities watchdog CVM on Tuesday urged employees from Americanas with information about the retailer’s alleged multi-billion-dollar fraud to give testimony in exchange for potential…
Brazil’s Americanas to seek bidders for fruit and vegetable unit
SAO PAULO (Reuters) – Brazil retailer Americanas SA said on Thursday it will next week start to seek potential bidders for the acquisition of its Hortifruti Natural da Terra (HNT) business unit.…
Brazil’s Americanas looking for buyer for stake in Grupo Uni.co
SAO PAULO (Reuters) – Brazilian retailer Americanas SA, which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties…
Powerful Brazilian lawmaker orders Americanas accounting probe
SAO PAULO (Reuters) – The head of Brazil’s lower house authorized on Wednesday the creation of a committee to investigate Americanas, the retailer at the center of a nearly $4 billion accounting…
Brazilian securities watchdog launches new probes into Americanas accounting fiasco
SAO PAULO (Reuters) – Brazilian securities watchdog CVM said on Friday it has launched two new probes into retailer Americanas SA’s accounting scandal and the firm’s reorganization process. CVM said it launched…
Report on Americanas’ woes to be presented to Brazil court next week
By Rodrigo, Viga and Gaier RIO DE JANEIRO (Reuters) – A report detailing Brazilian retailer Americanas SA’s bankruptcy is being prepared by the trustee’s team of over 100 experts and is expected…
Americanas’ ex-chief testifies before watchdog after accounting scandal -source
RIO DE JANEIRO (Reuters) – The former chief executive of scandal-hit Brazilian retailer Americanas SA testified on Thursday at the country’s securities watchdog, a source familiar with the matter said, as authorities…
Americanas scandal won’t affect Brazil banks much even in “extreme scenario” – cenbank
BRASILIA (Reuters) – Brazil’s central bank stated on Thursday that the potential impact of the accounting scandal involving retailer Americanas SA on banks would be ‘insignificant’ even in an extreme scenario. The…
Americanas proposes $1.9 billion for creditors from top shareholders
SAO PAULO (Reuters) – Bankrupt Brazilian retailer Americanas SA said on Tuesday it has offered a capital injection to its creditors of 10 billion reais ($1.93 billion) which would come from top…
Americanas’ top shareholders boost injection offer to $1.9 billion -Bloomberg News
(Reuters) – The top shareholders of retailer Americanas SA are informally offering a capital injection of 10 billion reais ($1.9 billion), Bloomberg reported on Thursday, after creditors rejected an initial offer of…
Brazil’s Americanas execs omitted info to audit committee, local media reports
SAO PAULO (Reuters) – The management of troubled Brazilian retailer Americanas SA denied the existence of the financial operations that led to an accounting scandal early this year, a report by local…
Brazil court approves Americanas payment of wages, some debts
RIO DE JANEIRO (Reuters) – A Brazilian court on Tuesday granted a request by bankrupt retailer Americanas that it be allowed to immediately pay workers’ wages and settle small supplier debts, for…
Americanas accounting scandal was a ‘fraud,’ says CEO of Brazil’s Itau
SAO PAULO (Reuters) – The chief executive of Brazil’s biggest private lender Itau Unibanco said on Wednesday that the accounting inconsistencies that led retailer Americanas SA to request bankruptcy protection represent a…
Brazil’s Americanas board to remove top executives after accounting scandal
SAO PAULO (Reuters) – Brazilian retailer Americanas SA said on Friday its board had decided to remove three directors and three executives amid investigations over so-called accounting inconsistencies. Americanas, backed by the…
Large Brazilian banks may set aside around $890 million for Americanas losses in Q4
By Aluisio Alves SAO PAULO (Reuters) – Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG…
Brazil’s Americanas requests financing of at least $197 million -filing
(Reuters) – Brazilian retailer Americanas SA has requested debtor-in-possession financing of at least 1 billion reais ($197.12 million) as part of its bankruptcy process, according to a securities filing Tuesday. The financing…
Brazilian court orders seizure of emails of bankrupt retailer Americanas
By Tatiana Bautzer SAO PAULO (Reuters) – A Brazilian court has ordered the seizure of all corporate emails of managers and board members from bankrupt retailer Americanas SA sent and received over…
Investor group requests arbitration against Brazil’s Americanas and 3G Capital
By Carolina Pulice (Reuters) – A group of investors requested a collective arbitration against troubled Brazilian retailer Americanas SA and 3G Capital at the Brazilian stock exchange on Thursday, according to a…
Brazil’s BTG gets court decision reversing part of Americanas’ protection from creditors
SAO PAULO (Reuters) – Brazilian bank BTG Pactual obtained a court decision on Wednesday overturning part of Americanas SA’s protection from creditors, according to court documents seen by Reuters, in a move…
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