Nubank increases restitution claim to R$ 719.8 million against Entrepay

Nubank has increased its restitution claim to R$ 719.8 million in a legal dispute involving Entrepay, a payment acquirer liquidated by the Central Bank in March. The bank argues it has an exposure of R$ 675.6 million related to Entrepay and R$ 44.2 million with Acqio, a subsidiary of Antonio Carlos Freixo.

Nubank maintains that it is the exclusive owner of the credit rights in good faith and that the retained funds should not be part of the liquidation mass. This dispute follows a position by the Central Bank's General Attorney's Office, which suggested that merchants have preference in receiving payments over credit assignees. Nubank counters that a provider's default to merchants does not invalidate the effectiveness of credit assignment and argues that card networks should ensure full payment to merchants.

The case is linked to broader investigations, including the 'Dark Horse' scheme and 'Operação Carbono Oculto', involving potential frauds and foreign contributions.