CARPENA Lawyers obtained, on a recent date, a relevant decision of the Justice of São Paulo which, analyzing the risks involved in a very immobile auction promoted by foreign companies (US investment funds), welcomed the thesis presented and determined The suspension of the act.

The said societies, which had "acquired" the property through a credit assignment of more than R $ 100 million reais (in current values), from another foreign society (North Bank -American), they have been trusted owners of the goods with the real estate registration and were valid from the extrajudicial execution procedure provided for in Federal Law n. 9.514 of 1997 (which provides for the real estate financial system, fiduciary alienation of well immobile and its extrajudicial execution, among other things).

CARPENA Lawyers, provoking the existence of nulities relating to the contract through which there was the transfer of fiduciary property, as well as the legal ineffectiveness of the instrument in the light of the rules of Brazilian law, entered with a declaratory action in the State Justice of São Paul. The injunction, which anticipated the effects of the tutelage, understood, from the relevance of the foundations presented, that the particular alienation of the good could not proceed, and determined, continuous act, the suspension of all and any act of this nature, including as a form of Ensure the result of the process.

As foreign societies do not have a subsidiary in Brazil, they have not yet been officially summoned from the decision, and the quotation, which should occur in the coming months, will be carried out by a rogatory letter, to be sent to the USA.