Brazil's Imcopa Unable to Terminate Petrópolis Lease Early, Court Says

A Brazilian judge on Wednesday ruled that Imcopa, one of the country’s largest processors of non-genetically modified soybeans, will no longer be able to enforce early termination of a lease agreement related to two soy crushing plants, Reuters reported. Imcopa has been going through a bankruptcy reorganization since 2014 and wants to sell the plants to pay back creditors. Last week, Imcopa terminated a 10-year lease on the two plants with brewer Cervejaria Petropolis SA, prompting the beer maker to seek legal remedies. Petrópolis had been operating the plants to produce and market soy meal and soy oil. Citing the injunction handed down by Judge Sandra Dal’Molin in southern Paraná state, Petrópolis said in a statement on Thursday that Imcopa would have to pay fines if it did not comply with the decision barring the early termination of the lease. Read more

Location