On Tuesday, October 20, 2026, Companhia Brasileira de Distribuição (GPA, PCAR3) had the ruling published in the National Electronic Court Gazette that, on October 7, 2026, ratified the company’s Out-of-Court Recovery Plan, as amended on May 5, 2026, pursuant to Law No. 11,101/05.
This ratification had already been reported to the market on October 7, when GPA detailed the out-of-court recovery plan, including the total amount of R$ 4.568 billion in covered unsecured credits and the payment options offered to creditors, as set out in the material fact disclosed on that date.
The publication date of the ruling becomes the Ratification Date for purposes of the Plan, from which, among others, the following deadlines begin to run: up to 30 calendar days for the availability of the New Funds by creditors who chose to provide them; up to 30 calendar days for the amendment of the original instruments by creditors holding foreign-currency credits who chose this option; and up to 60 calendar days for the issuance and delivery of the New Debentures (debt securities issued by companies) Issuance A and the New Debentures Issuance B, pursuant to Clause 10.1.5 of the Plan.
To enable the issuance and delivery of the New Debentures in replacement of the securities currently held by creditors, B3 will proceed with the procedures to block, in its records and custody, the securities representing the Subject Credits – Capital Markets: the debentures of the company’s 18th and 20th issuances and the Real Estate Receivables Certificates of the 1st and 2nd series of Virgo Companhia de Securitização’s 80th issuance. After the blocking, B3 will not process any trading, sale, assignment, transfer, lending or any other form of disposal of these securities, which will remain unavailable until they are replaced by the New Debentures.
Companhia Brasileira de Distribuição reported that it will keep its shareholders and the market informed about the implementation of the Out-of-Court Recovery Plan, as required by the applicable regulations.
