Rio Appeals Court Blocks Bradesco and Opportunity From Selling Ambipar Collateral Shares

Overview

• The 21st Civil Chamber of the Rio de Janeiro state court extended an earlier injunction that only covered Bradesco to also bar the Opportunity fund from disposing of Ambipar shares.
• Justice Mauro Pereira Martins set a R$2 million penalty for any breach of the order and cited risks to the legal principle of preserving the company during recovery.
• The court rejected Ambipar’s request to force buybacks of shares already sold and to reverse debits from the controller’s account, citing procedural limits such as inovação recursal.
• Ambipar alleges large disposals of pledged shares drove sharp price declines and illegally diluted controller Tércio Borlenghi’s ownership; Bradesco and Opportunity did not immediately comment.
• The company delayed its third‑quarter results indefinitely, attributing the postponement to the recovery process and recent changes in its finance leadership.