The minority of Pharol admit proceed with cases against the former and current company administrations, including Rafael Mora and Luís Palha da Silva, current chairman of the board, if the Court annuls the decisions taken at the general meeting of 8 September 2014 it was approved the new terms of business combination between the old PT SGPS (now Pharol) and the Hi.
Minority ponder still constitute themselves “assistants in the process known as” Operation Marquis “by understood to contribute to the discovery of truth in that process.” The process investigates cases involving former Prime Minister Jose Socrates, but has motivated several searches to related parties PT and home of former administrators, as Zeinal Bava and Henrique Grenadier.
The action, in which it seeks the annulment of the September meeting of resolutions 2014, goes on trial on 19 September, as has advanced Mad Money, and in it the Association of Investors and Technical Capital Market (ATM) or see annulled the decision to transfer to Pharol debt of 897 million euros Rioforte and the new terms of the business combination with the Hi.
on Tuesday the ATM and the shareholders of Pharol plaintiffs met with Luís Palha da Silva to discuss the legal proceedings. “Following that meeting, understood, at least some shareholders, authors in above that case and others, take firm and irrevocable commitment not to yield to any extrajudicial agreement to the end of the litigation,” tells ATM advertising note on the association’s website. They consider that “this process is the only and last chance to do justice and to allow the Pharol recover their most important assets.”
More, if the Court of Lisbon Commerce decides favorably to the ATM, the authors of action “will start proceedings against the former and current executive committees, particularly but not exclusively, Messrs Dr. Luis Maria Viana Palha da Silva and Rafael Luís Mora Funes”, since the ATM several times urged the managements of PT SGPS / Pharol for “refrain from implementing the resolution” approved at an extraordinary general meeting. That did not happen.
The ATM is still ongoing another process that seeks annulment of the decisions of the general meeting of 22 January 2015 which approved the sale of the entire share capital of PT Portugal to Altice, who still awaiting trial date.
the ATM thus increases the pressure on Pharol, at a time when the other side of the Atlantic minority shareholders of Hi forward a complaint with the Federal Public Ministry to investigate what consider crime to be evidence of the debt of the Brazilian operator. The action also has the Pharol and Santander Brazil bank in sight.
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