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Covid-19 | São Paulo State Court of Appeals denies request to suspend payment of installments of property sold at auction
In a recent decision, the São Paulo State Court of Appeals (TJSP) rejected a request to suspend the payment of the installments of a property sold at a judicial auction.
The above decision was rendered in an appeal filed by the company that bought the property against the decision that did not grant it an injunction to suspend the payments for the acquisition of the property for 60 days.
The company requested the injunction to the Lower Court on the grounds that it had its contracts with customers and suppliers suspended due to the COVID-19 pandemic, which would have caused “a profound change in its economic condition”.
The TJSP rejected the appeal by considering that the generic allegation of the COVID-19 pandemic does not suffice to justify termination or suspension of ongoing contracts.
The full text of decision can be viewed here.
