BTG Pactual's retailer Leader faces merger debt dispute-report
BRASILIA Jan 15 (Reuters) - The founders of Brazil's retail chain Seller has filed a bankruptcy request against União de Lojas Leader SA, controlled by investment bank Grupo BTG Pactual SA, claiming a payment is overdue from the merger of the two retailers, newspaper Valor Economico reported on Friday.
The Furlan family claims Leader failed to pay 6.4 million reais ($1.6 million) on Dec. 21 as part of the merger signed in 2013, Valor reported, citing a request filed to a public notary in the city of Niteroi, state of Rio De Janeiro.
BTG Pactual said in an email to Reuters that Leader has not been informed of the request. The statement adds Leader notified Seller's previous owners on Dec. 21 about accounting and patrimonial inconsistencies in Seller's books, and that the payment claimed is not owed by Leader.
The dispute comes at a time when BTG Pactual is trying to sell various assets to raise cash and restore investor confidence after billionaire founder André Esteves was arrested in November in connection with a corruption probe in Brazil.
The Furlan family and the 19th public notary office of Niteroi were not immediately available to comment. ($1 = 4.0122 Brazilian reais) (Reporting by Silvio Cascione; Editing by Greg Mahlich)
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