The judicial reorganization of Americanas S.A. brought impacts not only for investors and financial creditors, but also for retailers that sell their products through the market place platform, which may have been included in the general list of creditors (presented in the process on January 25) due to the credit owed to them on account of sales made to the consumer. However, it is important to note that payment arrangement receivables (including credit and debit card and Pix transactions) are treated differently.
Law 12,865/2013, as amended by Law 14,031/2020, establishes that funds received by payment arrangement participants are not subject to judicial and out-of-court reorganization or bankruptcy, among other reorganization or dissolution regimes to which the participant of the payment arrangement through which such funds pass. In other words, the law excludes the possibility that the resources received by the participants of the arrangement be used to pay debts of companies that intermediate the flow of payments, so that the receivables generated by sellers in card and Pix sales are not understood as credit before Americanas.
Thus, as a participant in the flags and Pix arrangement, the Americanas group has the obligation to pass on the receivables held by the sellers registered on the platform, as the legitimate holders. And, if necessary, the sellers must request the exclusion of the amounts that may have been included in the list of creditors, since they are not subject to the judicial reorganization procedure.