By Brazil Stock Guide – Refinaria de Petróleos de Manguinhos SA (B3: RPMG3), the Brazilian fuel refiner known as Refit, obtained a court order suspending the enforceability of its judicial recovery obligations and state tax installment payments for 120 days, a move that temporarily shields the company from creditor pressure as it struggles to stabilize operations .
The decision was granted by the Sixth Private Law Chamber of the Rio de Janeiro State Court of Justice on Jan. 27, following a request filed by the company a week earlier. The ruling halts all obligations set out in Refit’s court-approved restructuring plan, as well as payments related to a tax settlement with the State of Rio de Janeiro, according to a regulatory filing released on Wednesday .
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Refit said the measure is intended to preserve the economic viability of its judicial recovery process and ensure business continuity. The company cited recent asset seizures ordered by other courts as a key factor behind the request, highlighting the growing fragmentation of creditor actions that often undermines restructuring efforts in Brazil’s judicial recovery framework .
The ruling provides a rare but critical breathing space for the refiner, whose balance sheet remains under stress amid constrained access to credit, regulatory scrutiny and volatile fuel-market conditions. While the suspension does not extinguish liabilities, it temporarily blocks enforcement, effectively pausing cash outflows linked to legacy debts.
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