Petrobras investors want compensation through a Dutch court

Non-American shareholders of Brazilian oil company Petropras are seeking compensation from the company through a Dutch court. Due to a scandal and bribery scandal in 2014, Petrobras stock prices plummeted and securities became much less valuable. Stakeholders, including key investors, want to be compensated. Petropras claims it is the victim of corrupt directors and defends himself against the claim.

The previous lawsuit was settled out of court in the United States by $ 3 billion in 2018. At the current exchange rate, it would be ில்லியன் 2.5 billion. In that case, only US shareholders were welcome. Their combined damage was estimated at $ 10 billion. In the present case, all the shareholders excluded in the other case will be affected if they come forward now.

The Petroprose Compensation Trust (SPCF) won a lawsuit in May, claiming that the Petroprost Trust was not a partner and therefore could not sue the company. It is now clear that the lawsuit could be pursued, and the SPCF plans to argue next month that Petropras violated local laws not only in the Netherlands, but in all six listed countries outside the United States. Lawyers for the trust think it could take a year to deliver a verdict.

The scandal that took place in Petrobras was called Operation Carwash. Corrupt executives of the Brazilian government-owned Brazilian oil company have been bribed by companies looking for contracts. They shared the money with politicians who allowed Petropras to exploit certain oil fields. Dutch oil service provider SBM Offshore, among others, was involved in the bribery scandal. Former Brazilian President Lula was unable to run in the 2018 presidential election due to an investigation into the matter.