The private debt consolidation, confession and renegotiation contract was signed between the parties using real estate as collateral, which was provided by a third party. Because of this, the São Paulo Court of Justice understood that article 49, paragraph 3 of Law 11,101/2005 would not apply . The rule indicates Telegram Number Data that the credit held against the company under recovery by the fiduciary owner of movable or immovable property is not subject to the effects of the recovery process, as property rights over the thing and contractual conditions prevail. The rule does not specify, however, whether the asset sold on a fiduciary basis must originate from the assets of the company under recovery.
For the 3rd Panel, the personal identification of the fiduciary or fiduciary with the object of the guarantee or with the company in reorganization itself is irrelevant. Still in 2016, the collegiate established the only precedent on the topic, in Special Appeal 1,549,529 . The position was reaffirmed in the new case judged, removing the effects of judicial recovery from the credit securitized by Caixa Econômica Federal. Rapporteur, Minister Nancy Andrighi adopted the understanding of the previous precedent according to which the position privileges the entire legal system designed to house the institute of fiduciary property. Moura Ribeiro accompanied the rapporteur.