Ferbasa, a Brazilian ferroalloys producer, said this week it is “unaware” of any lawsuits demanding a stake in the company, as reported by Valor, which said Ferbasa was involved in a “family dispute.”
José Eduardo Cabral de Carvalho, son of Ferbasa’s founder José Carvalho, reportedly filed a lawsuit demanding BRL 800 million or 50 percent the company’s equity value. Currently, he has no stake in the company. However, his father reportedly “donated” a 50 percent stake at Ferbasa to a foundation carrying his name: José Carvalho Foundation.
José Eduardo Carvalho seeks to obtain the 50 percent from the foundation, as his father passed away in 2015. Ferbasa said the lawsuit, if it was filed, has no legal basis, and the company will take all legal measures to fight it.