OSX, by Eike Batista, earns the right not to pay rent

OSX, A Ike Batistaobtained in court the right not to pay rent for the area it occupies in the port of Aso, in Rio de Janeiro.

second the worldJudge Luiz Alberto Alves, of Rio's Third Commercial Court, issued a decision to release the shipbuilder from paying about R$7 million in rent owed to Bromo, the owner of Porto do Aso.

Had it not been for the first instance judge's decision, Ike would have been supposed to pay its debts on Thursday, the seventh of this month.

OSX in judicial recovery (again)

The Rio de Janeiro Court of Justice accepted OSX's new request for judicial recovery in January.

This is the second time the shipbuilder has entered the judicial recovery phase. The first was between 2013 and 2020.

In court, OSX stated that its debts amounted to about R$7.9 billion.

Porto do Açu, run by logistics company Prumo, and Caixa Econômica Federal are among Eike's main creditors.

The decision also specified that OSX collect rental deposits for the area used in Porto do Aco, in Rio de Janeiro, into a bank account in Santander. Eike Batista occupies 3 square kilometers of the 120 square kilometers managed by Bromo.

OSX, “zombie company”

When challenging the suspension of OSX debt collection in court, Caixa Econômica Federal stated that the shipyard company founded by Eike Batista continues to exist as a corporation “Zombie Company”using mechanisms that temporarily stop debt collection in “arbitrary” To delay payment to creditors.

In November 2023, Judge Paolo Aced, of the Third Business Court of TJ-RJ, granted a request by the company to suspend the debt on the basis of an injunction, after OSX received a fee of 400 million reais from Prumo.

A 2018 agreement between the two companies was suspended by Promo in October, on the grounds that Eike's shipyard company had never paid for use of the port.

Caixa attempted to overturn the injunction that granted 60 days to reach a new agreement between OSX and Prumo.