The Federal Regional Court of the 2nd Region (TRF2) freed the Union from paying compensation of around R$16 billion to an investment fund that alleged differences in remuneration in Eletrobras debentures. The Union appeared in the action as an assistant to the company. The decision, handed down last Tuesday, 7th, denied a lawsuit filed by the investment fund Eagle Equity Funds. The fund can still appeal.
In the case filed in 2013, the fund claimed that it was not correctly remunerated for the compulsory loan on electricity made by Eletrobras. The loan policy was instituted in the 1960s to finance the expansion of the electricity sector, and the amounts were paid by consumers until 1993. The form of refund and monetary correction, among other points, began to be judicialized.
The refund to taxpayers was made through the conversion of the amounts into Eletrobras shares, which gave rise to the debentures questioned in this case. For the 6th Specialized Panel of the TRF2, the supposed right to differences in the fund’s remuneration already expired in 1997.
“In the case under examination, the bearer bonds were issued in 1972, with a term of 20 years, so that, after these 20 years, we reach the year 1992, starting from there the 5-year expiry period. In this way, we reach the year 1997, when the final term for the filing of the action was set”, says the decision signed by judge Sandra Meirim Chalu Barbosa of Campos.
“Therefore, considering that the demand was only filed on October 3, 2013, that is, after the expiry of the period for redemption of bearer bonds, the right to the claimed credit is evident,” he adds.
