trending Market Intelligence /marketintelligence/en/news-insights/trending/dZbWSAFGmw2gYZmGj0rPdg2 content esgSubNav
In This List

Court orders Brazilian state to reimburse missed payments to Banco Pan

Blog

The evolving world of central bank digital currencies

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Expand Your Perspective Uncover Insights on Key Markets with Differentiated Data

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Court orders Brazilian state to reimburse missed payments to Banco Pan

Banco Pan SA has obtained a court injunction ordering the Brazilian state of Tocantins to pay the bank 20 million Brazilian reais within five days after the state's government failed to transfer payroll loan installments to the bank, Valor Econômico reported.

The judge who issued the ruling said civil servants have also initiated legal proceedings against Tocantins after being denied loans by the bank over the state's failure to make payments.

According to the report, the state's government will appeal the injunction.

As of Dec. 5, US$1 was equivalent to 3.23 Brazilian reais.