Post by xyz3400 on Feb 20, 2024 5:40:46 GMT
Considering the risk of serious damage to the economy of Paraná, the president of the Superior Court of Justice, minister João Otávio de Noronha, suspended the decision that prevented the continuation of the privatization of Copel Telecomunicações. STJ Decision by Minister João Otávio de Noronha allows the privatization of Copel Telecom STJ to continue The process was suspended after an injunction prevented the execution of a contract for the provision of financial advisory services between Copal and the bank Rothschild & Co. For the president of the STJ, minister João Otávio de Noronha, maintaining the injunction could cause serious damage to the economy of Paraná, in addition to unduly interfering in the administrative judgment of convenience and opportunity regarding the sale of Copel's assets.
The contract, worth around R$3 million, was signed through an unenforceable bidding procedure, under the argument that the contractor was one of the best rated agencies to carry out the services. A class action challenged the contract. In the first instance, the judge rejected the request to suspend the contract; however, the Court of Justice of Paraná issued an injunction suspending the contract as it understood that there Honduras Mobile Number List would be a need for a bidding process in the case. According to the TJ-PR, Law 13,303/2006 — which regulates mixed capital companies, such as Copel — provides that direct contracting can only be carried out when competition is unfeasible, especially in the contracting of specialized technical services. However, for the court in Paraná, the hypothesis of hiring financial advisory services for the disposal of assets would not be unique in nature, as these activities are common in the field of financial institutions.
In the request for suspension addressed to the STJ, Copel claimed that the injunction creates legal uncertainty in the privatization process, alienating investors, in addition to implying greater state debt, with negative repercussions on its business. Copel also stated that the bank has proven specialization in its field of activity, having participated in several privatization processes in Brazil — as in the cases of Vale, Embraer and Banespa —, which would give credibility and confidence to the investor market and to public administration. According to minister João Otávio de Noronha, the information added to the case demonstrates the need for the Copel Telecomunicações privatization procedure, proving that the initiative, in addition to being aligned with the economic restructuring actions of the public sector, seeks to preserve the efficiency and quality of essential services provided by Copel in the area of electrical energy.
The contract, worth around R$3 million, was signed through an unenforceable bidding procedure, under the argument that the contractor was one of the best rated agencies to carry out the services. A class action challenged the contract. In the first instance, the judge rejected the request to suspend the contract; however, the Court of Justice of Paraná issued an injunction suspending the contract as it understood that there Honduras Mobile Number List would be a need for a bidding process in the case. According to the TJ-PR, Law 13,303/2006 — which regulates mixed capital companies, such as Copel — provides that direct contracting can only be carried out when competition is unfeasible, especially in the contracting of specialized technical services. However, for the court in Paraná, the hypothesis of hiring financial advisory services for the disposal of assets would not be unique in nature, as these activities are common in the field of financial institutions.
In the request for suspension addressed to the STJ, Copel claimed that the injunction creates legal uncertainty in the privatization process, alienating investors, in addition to implying greater state debt, with negative repercussions on its business. Copel also stated that the bank has proven specialization in its field of activity, having participated in several privatization processes in Brazil — as in the cases of Vale, Embraer and Banespa —, which would give credibility and confidence to the investor market and to public administration. According to minister João Otávio de Noronha, the information added to the case demonstrates the need for the Copel Telecomunicações privatization procedure, proving that the initiative, in addition to being aligned with the economic restructuring actions of the public sector, seeks to preserve the efficiency and quality of essential services provided by Copel in the area of electrical energy.