The deadline expired for additional appeals at Brazil's Superior Court of Justice.
Petrobras reached the deadline to present additional appeals in a lawsuit filed by UP Offshore Apoio Maritimo, a subsidiary of OceanPact. The dispute involves amounts owed by the state-owned oil company under a charter contract for the vessel UP Coral.
OceanPact stated on 9 September 2026 that no appeal was registered in the electronic filing system of Brazil's Superior Court of Justice. Official confirmation still requires certification by the court clerk. If the absence of an appeal is confirmed, the ruling in favor of UP Offshore will become final, allowing the enforcement phase of the judgment to begin.
Credit rights tied to the lawsuit were partially assigned by OceanPact in 2023, while UP Offshore retained a majority stake in any future proceeds exceeding the upfront payment. Any economic benefits recovered from the dispute with Petrobras will go exclusively to OceanPact shareholders before its business combination with CBO Holding closes on 16 September 2026.
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