Federal Regional Court of First Region (TRF1) maintains release of part of the debtor’s tax foreclosure assets
It is possible for the debtor to use the rule of non-enforceability up to 40 minimum wages, not only for savings accounts, but also for checking accounts or investment funds or stored in paper money.
The 8th Panel of TRF1 considered that it is inappropriate to block part of the financial assets of a debtor foreclosure, in order to effectively prove its unenforceability: earnings.
The plaintiff succeeded in judicially unblocking his financial assets, which were invested in investment in Agribusiness Letters of Credit (LCA), up to a limit of 40 minimum wages.
The Federal Government appealed, alleging, in short, the impossibility of extending the impenetrability provided for in item X of art. 833 of the CPC to cover amounts up to 40 minimum wages invested in financial investment other than savings.
The rapporteur pointed out that the statements of the executed account demonstrate the credit by the INSS, characterizing compensation.
According to the magistrate, “the other blocked amounts invested in investment in LCA, even if they were not wholly from proceeds, can be considered as financial reserve/savings and are therefore unenforceable up to the limit of 40 minimum wages.”
Proc. No. 0062957-47.2015.4.01.0000/MG
More information: reginaldo.santos@correiadasilva.com.br
About The Author
Partner
Advisory and Tax Litigation Nucleus
Category: CONSULTATIVE AND ECONOMIC LITIGATION, Reginaldo Angelo dos Santos, TAXATION
Tags: financialassets, correia dasilva advogados, csa, unblocking, TaxforclosurePosted in: 20/01/2020
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