Court suspends OSX’s rental contract with Açu Port

In a ruling issued this Wednesday (7), Judge Luiz Alberto Carvalho Alves, head of the 3rd Business Court of Rio de Janeiro, suspended for a maximum period of 60 days — or until arbitration begins — the lease agreement between OSX and Porto do Açu Operações (PdA), the asset’s administrator.

Back in 2023, OSX requested arbitration against PdA and Prumo (the major shareholder of Porto do Açu Operações) to revise lease and management agreements in the area. The shipbuilder also seeks in arbitration court compensation and/or indemnity for alleged losses. The arbitration procedure has not yet commenced; it is in the stage of judge selection.

In his ruling, Judge Carvalho Alves explained that granting the injunction was necessary to ensure that arbitration proceedings could proceed smoothly and that any future decisions made by the Arbitration Tribunal would be effective. This step aimed to prevent OSX, currently undergoing judicial recovery and facing potential challenges in maintaining its operations, from losing its rights. It’s worth noting that OSX had its second request for bankruptcy protection approved on January 23.

Source: Valor Econômico

Click here to read the original article: https://valor.globo.com/empresas/noticia/2024/02/07/justica-suspende-contrato-de-aluguel-da-osx-com-a-porto-do-acu-operacoes.ghtml

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