Who is the current owner of the bankrupt firm?

The Court of Justice of São Paulo determined at this time (21) the chapter of Grupo Itapemirim, an airline firm. Since 2016 the authorized restoration is being carried out with money owed to R $200 million and one other R $2 billion for pending bills and taxes and social safety.

Itapemirim was based by Camilo Cola, a former member of the FEB (Brazilian Expeditionary Force). Later, it was offered for R$1 to Sidnei Piva de Jesus.

So, who is Sidnei Piva de Jesus?

Sidnei Piva purchased the Itapemirim highway transport group for R$1 in 2016, whereas the firm was going by way of a authorized restoration course of. He additionally held the firm’s money owed there, which at this time quantity to R$2.2 billion.

Less than 4 years later, the entrepreneur set his wage at R $ 300,000 per thirty days – a price that is inside the market parameters for the president of a big firm that works properly, however not for an individual with billions of credit in the market. . Before the arguments that arose, he determined to offer his wage.

This is not the solely battle in Piva’s approach of doing enterprise with its airline, ITA, which abruptly ended operations at the finish of 2021, inflicting chaos at airports and leaving hundreds of passengers with out service at the finish of final yr. He was concerned in lots of authorized disputes and he denied all the allegations in opposition to him.

Piva fights in courtroom with the household that ran the Itapemirim gang earlier than him. According to Andreia Cola, granddaughter of the firm’s founder, Camilo Cola, the settlement signed with Piva signifies that household belongings won’t be included in the enterprise. However, Piva was capable of take Cola’s belongings to courtroom.

“Our household misplaced all the things. Houses, buildings and different properties usually are not half of the work, however half of the belongings of the firm, as a result of there is just one director of the firm”, stated stated Andreia. However, Itapemirim says that Andreia won’t reveal the allegations, whereas the dispute continues.


From the starting of the course of, there have been doubts in the market about the survival of the ITA, which arrived in the controversial market at a really tough time, along with the undeniable fact that it got here from a bunch that conducting judicial proceedings.

At a time when suppliers and staff in Itapemirim have complained about late funds, Piva opened a monetary providers firm in London value 780 million kilos (R$ 5.9 billion).

Piva claims to be an organization that manages plane leasing and invests in Brazilian debt securities.

“There is nothing unlawful. What is there is the current worth of R$ 70 thousand (in debt) mounted for 100 years from now. The assumption is that you simply (I) have a R$ 6 billion is a lie. .” However, the wealth of every of the ten richest individuals in the nation has exceeded $30 billion (R$170 billion).

Although not on the record of the richest Brazilians, Piva has refined the meals tradition. The paperwork obtained by Estadão in an undercover operation in the Court of São Paulo present that, in 2020, in a retailer in Dubai, he spent R $ 29 thousand on his bank card .

On one other journey — to Paris — it was BRL 23,000 at Louis Vuitton. Between February and March, he spent R$40,000 on an house in Rio. When requested about the bills, Itapemirim stated they had been paid by Piva’s non-public people and there was no hurt to the firm.

*With info from the Government Department

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