Eletrobras (ELET6) appeals to the Supreme Court after the suspension of the meeting on the founding of Furnas

Brasilia (Reuters) – Eltrubras (Elite3;Elite6) appealed to the Federal Supreme Court (STF) to cancel two court orders that led to the suspension of the Extraordinary General Assembly scheduled for December 29, to decide on the integration of Furnas into the company, claiming “huge losses.”

The case was distributed to Minister Alexandre de Moraes to report on on Tuesday.

The company's defense argued on appeal that the injunctions of the Regional Labor Court of the First District and the Court of Justice of the State of Rio de Janeiro brought by the Fornas Employees Association (ASIF) “completely exceeded” the jurisdiction of the Supreme Court itself in the previous decision of Minister Nunes Márquez.

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Márquez reports on the measure questioning the privatization of Eltrubras, approved by Congress, sending in December to the Conciliation and Arbitration Chamber of the Federal Administration (CCAF) the request of the Federal Government to guarantee the right of the Union to vote, as a shareholder in Eltropras, in the proportion of the share held in the capital of the company .

At that time, 90 days were given to seek an amicable solution between the parties. The association owns 42% of the Company's common stock and only exercises 10% proportional voting power, without any compensation.

Eltrobras's defense appealed the injunctions granted during the coroner's recess.

“The merger has been carried out appropriately and diligently by Eletrobras and Furnas in order to take into account all the legal and regulatory requirements imposed for its implementation, which will not be consolidated until all suspensive conditions are effectively fulfilled,” the lawyers told STF.

“Therefore, the reversibility of all AGE decisions remains clear, which does not represent any risks to the rights of the association or to the reconciliation promoted by the STF,” he emphasized.

On Tuesday, Eltrobras issued a statement stating that it was taking all appropriate measures to preserve its interests after the meeting was suspended.