Paper Excellence had asked for a new arbitration in the dispute for controlling Eldorado Celulose to be outside the country
The International CCI (International Chamber of Commerce) International Court of Arbitration did not accept the OE to refrain from nominating an abroad headquarters for the new arbitration in the dispute with J&F for the control of Eldorado Brasil Celulose.
In a session held on March 6, 2025, the Arbitral Court decided to refrain from setting a provisional arbitration headquarters. With that, for now, The Forum of São Paulo is maintained For arbitration processes, as defined in the contract under the dispute of the two companies.
The process is at the selection stage of the 3 referees. After the Constitution, a new headquarters can still be defined.
In the request made in January, the Indonesian company made harsh criticism of the judicial system and several actors of the Brazilian judiciary. Claimed that the maintenance of the processes based in São Paulo would favor J&F and mentioned the search for a “Neutral Forum”.
This will be the 4th arbitration process opened in the conflict, as well as several lawsuits in progress, in different instances.
In addition, companies also seek a solution from the Supreme Court (STF), in a process conducted by Minister Nunes Marques.
PAPER EXCELLENCE NOTE
“The International Court of Arbitration of the International Trade Chamber (CCI) did not deny a request from Paper Excellence to change the arbitration headquarters.
“The decision of the CCI administrative agency was not to block the Paper’s request, but only in order to say that it is not necessary to decide on the issue of changing the headquarters. The court, in turn, accepted a subsidiary request from the paper, failing to set the arbitration headquarters in Paris or even in São Paulo.
“The decision to change the headquarters must be taken by the Arbitral Tribunal, after its constitution.
“That is, so far, there has been no definition on the subject. ”
Dispute for Eldorado Celulose
The denied request to bring arbitration abroad is another chapter in the extensive conflict between the 2 groups by controlling Eldorado Brasil Celulose, which began with the sale of the company’s shares in 2017.
Eldorado is one of the largest pulp producers in the country, with a manufacturing unit in Três Lagoas (MS) and one, where he exports to 40 countries. It was founded in 2010 by the J&F group of the Joesley and Wesley Batista brothers.
In 2017, J&F Investimentos signed a contract for the sale of 100% of Eldorado Celulose shares for Paper Excellence for R $ 15 billion. The transfer of 49.41% of Eldorado shares to the multinational was effective, but the rest of the agreement was not completed.
The dispute between J&F and Paper Excellence began in 2018, when Paper Excellence’s 1 year contract to acquire 100% of Eldorado Celulose shares was initially discussed in the arbitration court and then also in court.
The arbitration process gained cause to Paper Excellence in 2021, concluding that J&F had an obligation to sell 100% of Eldorado to the Indonesian company. The lawsuit, however, was suspended by TRF-4 until a popular action is judged that the sale of Eldorado is dismissed because Paper Excellence did not require the prior authorizations of Congress and required for the acquisition and lease of land by foreigners.
Read more about the case of Eldorado Brasil Celulose:
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- 17.nov.2024 –
- 12.fev.2025 –
- 10.jan.2025 –
- 27.nov.2024 –
- 18.nov.2024 –
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- 17.nov.2024 –
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- 14.out.2024 –
- 4.out.2024 –
- 23.set.2024 –
- 3.Mai.2024 –
- 26.abr.2024 –
- 27.jan.2024 –
- 8.jan.2024 –
- 2.jan.2024 –
- 27.out.2023 –
- 20.jul.2023 –
- 4.jul.2023 –
