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This excerpt taken from the PBR 20-F filed May 22, 2009. Pollution
On January 15, 1986, the Public Ministry of the State of
São Paulo and the União dos Defensores da Terra
(Union for Defense of the Earth), filed a public civil
action against us and 23 other companies in the State Court of
São Paulo for alleged damages caused by pollution. This
lawsuit is entering the discovery phase. The amount alleged in
the initial pleading filed with the Court is equivalent to
R$4,217, but it is difficult to estimate the actual damages that
could be assessed by the Court. The Public Ministry of the State
of São Paulo has publicly stated that the amount of
U.S.$800 million would ultimately be required to remedy the
alleged
environmental damage. The Court refused to assert joint and
several liability of the defendants, and we believe that it will
be difficult to determine the environmental damage attributable
to each defendant.
PifCo
There is no litigation or governmental proceeding pending or, to
PifCo’s knowledge, threatened against PifCo’s or any
of its subsidiaries that, if adversely determined, would have a
significant effect on its financial position or profitability.
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