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The São Paulo Federal Court ordered the immediate suspension (see full decision at the end of the case) of negotiations between Embraer and ( EMBR3 ) and Boeing . for the creation of a new company, "given the existence of new facts, unknown at the time of filing this popular action", says the decision released Thursday (6). Paulo Pimenta, Carlos Zaratini, Paulo Teixeira, Nelson Pellegrino and Vicente Cândido proposed the action. The decision emphasizes that the proximity of the suspension of the judiciary and the inauguration of the new President of the Republic with the changes of government teams, as well as the important renewal of the legislative power recommends that avoid any concrete act during this period. Thus, Judge Victorio Giuzio Neto suspends any concrete effect of a decision of Embraer 's board of directors, based on the segregation and transfer of the commercial part to Boeing through the company. a joint venture to create.
that if the Union does not exercise its right of veto because of the "Golden Part" or does not neglect the use, the prior authorization of the Congress national is required for the creation of a joint venture, a subsidiary, a joint venture or any other type of operation
The judge is puzzled over the l 39 Embraer's claim that, even though she holds the position of the country's third largest export company, she is on the way to bankruptcy.
"They further badert peremptorily:" The only danger of damage existing on a case-by-case basis is the inverse of the periculum in mora resulting from the preliminary injunction of the authors. The potential operation with Boeing represents a real lifeline for Embraer. "
According to the decision, the reason for the sale of the commercial part of Embraer (which is profitable) was (19459007) (joint venture ), which would hold 80% of the capital and Embraer 20%, in addition to the "right to retain a director on the board of directors" without the right to vote and as an observer, and that this operation would represent a "solution" to the agreement between Airbus and Bombardier.
No Joint Undertaking
At the end of last month., The Regional Labor Court of the 15th Region, in Campinas, partially granted the writ of mandamus filed by the prosecution, alleging that the commercial jet sector would actually be sold to [19459005Boe
In the draft action against the Union, the MPT indicates a high risk that Boeing, taking over the segment of commercial aviation Embraer, can transfer the outgoing production of Brazil, threatening the maintenance more than 26,600 jobs, as well as the commitment of Brazil's ability to produce cutting-edge technology in a strategic sector for national development.
The MPT stresses that the company does not present the contours of a "joint venture" or partnership, and will be managed exclusively by Boeing, under the control of the company's global chairman, without interference from Embraer in its management.In addition, the agreement would not be temporary, just like the joint ventures, but definitive, departing from the partnership announced at the end of last year between Airbus and Embraer's main competitor, Bombardier.
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