MPRJ proposes bankruptcy of Refit, after more than 10 years in judicial recovery

The MPRJ (Public Ministry of the State of Rio de Janeiro) presented to the Court, this Tuesday (26), a statement in which it defends the analysis of the conversion of the judicial recovery of Refit, the former Manguinhos Refinery, into bankruptcy.

According to the Public Ministry, the company did not achieve the objective of economic and financial restructuring provided for in the legislation, even after more than ten years under the recovery process.

"The refinery's tax liability increased from around R$5 billion to approximately R$25.7 billion, demonstrating the ineffectiveness of the process", he reports.

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The statement also points out that Refit has maintained recurring tax defaults in recent years. Data presented by tax bodies indicate that more than 80% of taxes due between 2022 and 2024 were no longer paid, a behavior that, according to the MP, characterizes the actions of a persistent debtor.

The GASF (Specialized Action Group for the Defense of Integrity and Suppression of Tax Evasion) also cites investigations and operations carried out by control and criminal prosecution bodies that would point to a model of action based on tax evasion and structured fraud.

Among the signs mentioned are "practices of asset concealment and mechanisms designed to hinder the collection of taxes".

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In the opinion of the Public Prosecutor's Office, the maintenance of judicial recovery has produced an effect contrary to what was expected, contributing to the continuous growth of tax liabilities and generating negative impacts on the economic order and judicial interest.

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The document also highlights the "non-compliance with obligations set out in the judicial recovery plan", including the lack of updated information on tax liabilities and the lack of effective measures to settle debts, even after deadlines granted by the Court.

"Non-compliance with tax installments signed as a condition for maintaining the judicial recovery were reported", adds the MP.

Another point emphasized by the MPRJ is the existence of signs of asset loss, with the removal of assets and resources from the company, which would have made the payment of credits, especially tax credits, difficult.

The demonstration mentions frustrated attempts to block assets and court decisions that recognized the existence of an economic group actually associated with asset concealment.

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Source: CNN