May 30, 2017 / 12:47 PM / a year ago

Brazil J&F leniency talks impasse to lead lawyers to quit -paper

SAO PAULO, May 30 (Reuters) - A negotiation aimed at a leniency agreement between J&F Investimentos and federal prosecutors has reached an impasse, which will lead the law firm representing the company to quit the case, Valor Econômico said in its Tuesday edition.

J&F is the parent company of the world’s largest meatpacker JBS SA, whose top executives admitted to bribing politicians in exchange for political favors in a scandal that threatens to topple President Michel Temer.

Brazilian federal prosecutors on Sunday made a new offer to JBS SA’s controlling shareholder involving payment of a 10.99 billion reais ($3.37 billion) fine for its role in massive corruption scandals.

The company’s last known offer to cover the fine was 8 billion reais, and no agreement has been reached.

The differences over the size of the fine will cause Trench, Rossi e Watanabe, the firm representing J&F in the talks, to step down from the case, Valor said without naming any sources.

The announcement that the lawyers will step down is likely to occur on Tuesday, Valor said.

Press representatives for J&F, JBS and Trench, Rossi e Watanabe did not have an immediate comment.

According to allegations made by the family that controls J&F, President Temer is accused of endorsing the alleged bribery of a potential witness in a corruption probe implicating scores of politicians.

$1 = 3.2564 reais Reporting by Ana Mano; Editing by W Simon

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