Brazil's Rio de Janeiro pension fund and Ambipar disclose billions tied to Banco Master fallout

Ambipar, a Brazilian environmental‑management firm, told the Rio de Janeiro court that it held R$ 1.2 billion in pre‑precatory claims before entering judicial recovery. The assets, consisting of court‑recognised credits against federal, state and municipal entities, were used to shore up liquidity after the collapse of Banco Master, which had also left Ambipar with R$ 247 million invested in a liquidating financial institution and a former R$ 500 million stake in the water‑energy company Emae.

In parallel, the Rio de Janeiro state pension fund (Rioprevidência) – which had invested more than R$ 3 billion in Banco Master – issued a decree restructuring its governance. The decree limits senior director positions to career civil servants, introduces one‑year mandates for retirees’ representatives, and tightens transparency and risk‑approval rules following a police investigation into alleged corruption linked to former governor Cláudio Castro and ex‑banker Daniel Vocaro.