Post by account_disabled on Mar 6, 2024 23:07:41 GMT -5
Convicted in the second instance of fraud in the liquidation process of the GNPP bank Grupo Rural said it did not agree with the convictions and that it will appeal the decision of the Rio de Janeiro Court of Justice. In a statement the group denies the fraud for which it was convicted and states that throughout the liquidation process it was supervised and approved by the Private Insurance Superintendence Susep.
The note refers to the decision of the TJRJ handed down this week which upheld a decision to block R$ million and disregard the legal entities of Banco Rural and Investprev the insurance and pension arm of the Rural Group. The companies were condemned for being involved in the liquidation process of the investment bank GNPP which without money to pay its debts went bankrupt in and declared in by the Central Bank.
The sentence describes an intricate plan to transfer shares and BTC Number Data customer portfolios between several companies in the same group in a plan to benefit the companies' shareholders to the detriment of debt creditors. The Rural Group denies fraud. According to the note sent to ConJur the operation was a market exit to rescue GNPP which was in bankruptcy. The plan only began to be implemented according to the statement in and the questioned operation according to the group took place in
According to the company GNPP is a nonprofit company and therefore has no shareholders but associates and cannot be part of conglomerates or economic groups. This is why Grupo Rural says it is not involved in fraud. The recovery plan described in the note was carried out successfully and concluded in
This company has always been and still is under the new name a nonprofit civil society which never had members. It could not therefore be part of any conglomerate or economic group. It only had members who were holders of its insurance plans and pension plan. The new management made a commitment to Susep to reestablish the technical reserves of its plans which was fulfilled. It was also decided to change the company's name to RS PrevidĂȘncia says the note.
Regarding the transfer of the customer portfolio Rural states that the operation was monitored and approved by Susep and therefore disagrees with the court decision. In an attempt to make itself heard in court Rural stated through its press office that when the ruling is published it will appeal the decision.
The note refers to the decision of the TJRJ handed down this week which upheld a decision to block R$ million and disregard the legal entities of Banco Rural and Investprev the insurance and pension arm of the Rural Group. The companies were condemned for being involved in the liquidation process of the investment bank GNPP which without money to pay its debts went bankrupt in and declared in by the Central Bank.
The sentence describes an intricate plan to transfer shares and BTC Number Data customer portfolios between several companies in the same group in a plan to benefit the companies' shareholders to the detriment of debt creditors. The Rural Group denies fraud. According to the note sent to ConJur the operation was a market exit to rescue GNPP which was in bankruptcy. The plan only began to be implemented according to the statement in and the questioned operation according to the group took place in
According to the company GNPP is a nonprofit company and therefore has no shareholders but associates and cannot be part of conglomerates or economic groups. This is why Grupo Rural says it is not involved in fraud. The recovery plan described in the note was carried out successfully and concluded in
This company has always been and still is under the new name a nonprofit civil society which never had members. It could not therefore be part of any conglomerate or economic group. It only had members who were holders of its insurance plans and pension plan. The new management made a commitment to Susep to reestablish the technical reserves of its plans which was fulfilled. It was also decided to change the company's name to RS PrevidĂȘncia says the note.
Regarding the transfer of the customer portfolio Rural states that the operation was monitored and approved by Susep and therefore disagrees with the court decision. In an attempt to make itself heard in court Rural stated through its press office that when the ruling is published it will appeal the decision.