Agreement with savers eases the Judiciary and benefits collective actions

In this year, The Federal Court of Justice approved the agreement between savers and banks to compensate the losses with the economic plans of Bresser (1987), Verão (1989) and Collor 2 (1991). The agreement represents an important achievement in the Judiciary history.

The approval of the collective agreement by the STF allows the solution of mass disputes in collective proceedings. In practical terms, this means that the Judiciary Branch will be free from approximately 800,000 lawsuits about the dispute over economic plans. Certainly this decision will establish guidelines for future judgments, especially in those cases that there is a collective interest, as in the case of the savers. It is, of course, a legal development.

Renato de Mello Almada
Chiarottino e Nicoletti