This excerpt taken from the PBR 6-K filed Nov 12, 2008.
(*) Net of Judicial deposit, when applicable.
Fishermen Federation of Rio de Janeiro FEPERJ
On behalf of its members, FEPERJ is making a number of claims for indemnification as the result of an oil spill in Guanabara Bay which occurred on January 18, 2000. At the time, Petrobras paid out extrajudicial indemnification to all who proved they were fishermen when the accident happened. According to the records of the national fishermen's register, only 3.339 people were eligible to claim indemnification.
On February 2, 2007, the decision, partially accepting the expert report, was published and, on the pretext of quantifying the amount of the conviction, established that the parameters for the respective calculation based on the criteria would result in an amount of R$ 1.102.207 thousand. Petrobras appealed against this decision before the Court of Appeals of Rio de Janeiro, as the parameters stipulated in the decision had already been specified by the Court of Appeals of Rio de Janeiro, itself. The appealed was accepted. On June 29, 2007, the decision of the First Civil Chamber of the Court of Appeals of the State of Rio de Janeiro was published, denying approval of the appeal filed by Petrobras and approving the appeal lodged by FEPERJ, which represents a significant increase in the value of the damages, since in addition to having maintained the ten year indemnification period, it increased the number of fishermen included in the claim. Special appeals were lodged against this decision by the Company, which are awaiting a hearing before the Superior Court of Justice (STJ). Based on the calculations prepared by the Companys experts, the amount of R$ 34.660 thousand was maintained, updated to September 30, 2008, as representing the amount that we understand will be established by the higher courts at the end of the proceedings.