Caixa Econômica Federal defends stance amid probe into Neo Química Arena debt | OneFootball

Caixa Econômica Federal has defended its handling of the Neo Química Arena financing, issuing a statement on Wednesday after the Ministério Público de São Paulo opened an investigation into an alleged error in the stadium’s debt.

The bank said in a statement that the agreement complies with Brazilian law, Central Bank rules and the National Financial System, adding that both the original 2013 contract and a 2022 renegotiation followed strict governance with technical and legal advice from both parties.

The administrative inquiry, led by prosecutor Cássio Conserino, stems from a complaint by expert Anísio Castelo Branco, CEO of Instituto de Perícia Investigativa. His dossier alleges possible inconsistencies in the debt update calculations, chiefly interest, fines and fees.

Corinthians obtained up to R$ 400 million in credit in 2013 to build the stadium. His dossier cites an economic impact of R$ 402.7 million in updated values, with the outstanding balance at about R$ 700 million in 2022.

The club’s June balance sheet, the latest published, lists R$ 630 million still owed on the stadium. Caixa said details of credit operations are protected by banking secrecy, so it cannot discuss contract specifics.

The arena debt was extensively restructured in 2022 under Duílio Monteiro Alves, reorganising obligations with Caixa and BNDES amid Novonor’s court-supervised recovery. Repayments were shifted to quarterly instalments.

Source: Meu Timao

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