Petrobras responds to Dutch lawsuit

Petrobras has responded to a lawsuit filed in Dutch court by a group of international investors against the Brazilian oil company. 

Earlier this week, Petrobras’ subsidiaries, Petrobras International Braspetro B.V. and Petrobras Global Finance B.V., were mentioned in a legal action filed by Stichting Petrobras Compensation Foundation, in the Court of Rotterdam, in Netherlands.

According to the investors, they suffered billions of dollars in losses in their investments in Petrobras.

As a result, the group is seeking declaratory relief as a result of the alleged corruption of the company and its executives. The coalition represents investors who purchased Petrobras securities on the BM&FBOVESPA exchange in Brazil and other securities purchased via transactions outside of, and not covered by, litigation in the United States.

In a response to the lawsuit, Petrobras said on Tuesday the company has not been summoned to present its defense, but informed that it will take “all necessary measures to protect its investors and its own interests.”

The public authorities in charge of the Lava Jato investigation and the Brazilian Supreme Court have acknowledged that Petrobras is a victim of the facts reveled by this investigation, the company noted. As a result, the company has already received approximately R$660 million ($208.2M) recovered by the Brazilian authorities from the companies and individuals involved in the illegal acts that harmed Petrobras.

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