Corinthians debt: Expert challenges Caixa fine calculation

Anísio Costa Castelo Branco, CEO of the Instituto de Perícia Investigativa, has filed a new representation with the São Paulo Public Prosecutor's Office (MP-SP) to challenge how Caixa Econômica Federal calculated a fine against Corinthians. The dispute concerns overdue installments related to the debt of the Neo Química Arena.

According to Castelo Branco, Caixa applied the fine to a base of approximately R$ 487.35 million. However, the expert argues the percentage should only apply to the installments that were actually overdue at the time the bank initiated judicial collection on August 22, 2019. He contends that only six installments, totaling roughly R$ 37.86 million, were outstanding at that time, which would result in a fine of approximately R$ 3.78 million.

The expert identifies a discrepancy of about R$ 44.95 million. When updated according to contractual financial criteria—using TJLP until July 2022 and CDI thereafter—the expert estimates this difference could reach approximately R$ 196.01 million by September 30, 2026.