By Brazil Stock Guide – Ambipar (AMBP3.SA) won a key legal battle against Deutsche Bank (DB), after the São Paulo state court dismissed the bank’s attempt to liquidate a derivatives contract. The ruling allows the dispute to remain under the jurisdiction of the Rio de Janeiro court, where the company’s broader financial case is being handled, Valor Econômico reported.
Deutsche Bank had filed a pre-arbitral injunction in São Paulo seeking to terminate the derivatives agreement and challenge Rio de Janeiro’s jurisdiction. The bank also aimed to block the stay period protection, which could play a central role if Ambipar proceeds with a restructuring filing expected later today, according to the report.
Judge Fábio Henrique de Toledo denied the request, rejecting the German lender’s effort to enforce the arbitration clause. By doing so, the court preserved Ambipar’s strategy to concentrate its defense in Rio and avoid immediate termination of the derivatives contract.