Casas Bahia Seeks Court Order for Banco do Brasil to Return R$ 422 Million

Grupo Casas Bahia has asked a São Paulo court to compel Banco do Brasil to return R$ 422 million that was unilaterally debited from the company's account. The dispute follows the retailer's August 16 filing for judicial recovery, in which it reported a debt of R$ 17.3 billion. According to the petition, Banco do Brasil acted as a guarantor for contracts with suppliers Apple and Mapfre Seguros. After the judicial recovery filing, these suppliers triggered the guarantees, and Banco do Brasil reimbursed them by debiting Casas Bahia's accounts on Friday, September 20. Casas Bahia argues that this action violates the principle of parity among creditors because the bank used the transaction to satisfy a credit subject to the rules of the judicial recovery process.

In addition to the dispute with Banco do Brasil, Casas Bahia is seeking to stop further resource outflows. The company claims that BTG Pactual blocked account movements and balance inquiries. Furthermore, payment processors Cielo, Getnet, and Redecard have reportedly retained card receivables exceeding R$ 18 million. Getnet, which allegedly retained at least R$ 14 million, stated it does not share client operation information. The company claims these retentions are intended as protection against chargebacks.

The retailer also highlighted a surge in legal pressure, noting that approximately R$ 9 million was blocked in the last six days due to credit payments. The group faces 29,000 ongoing labor claims with a potential exposure of over R$ 2.8 billion. Casas Bahia warned that if these actions are not suspended, the effects could be catastrophic. Ana Paula Tozzi, CEO of AGR Consultores, noted that the dispute for cash in the early days of judicial recovery is common and critical, as the success of a restructuring plan depends on the company's ability to generate and maintain cash flow.