Sale of Bauna/Tartaruga fields SUSPENDED by judge.

Get ready Karoon -> volatility is about to hit. I am hoping for a suspension until the appeal can be heard, but if not expect the stock to be hit hard. Buying opportunity? hard to tell right now. Heres the info.

actual judgement in Portuguese -> http://www.aepet.org.br/uploads/paginas/uploads/File/liminar.pdf (use google translate)... its 16 pages long.

Here is an abstract from another Portuguese website.

Sergipe court halts sale of Baúna and Tartaruga

Limitation decision upheld popular action petition linked to Sindipetro AL / SE
[18.11.2016] 16h44m / By Gustavo Gaudarde

The federal court in Sergipe suspended the sale of the Baúna fields in the Santos Basin and Tartaruga Verde in Campos after a popular action filed by members of the Alagoas and Sergipe oil tankers union Sindipetro AL / SE. The decision is preliminary and considered that there was no bid for the sale of the fields, in the final stage of negotiations with Karoon.
In the decision, Judge Telma Maria Santos Machado, 1st Federal Court of Aracaju, considered that if the illegality was confirmed, the sale "will cause a great loss to the public coffers, destabilizing the country's own economy." The judge emphasized that the process does not want to prohibit the sale of the fields.
In the popular action, defended by the lawyer Raquel de Oliveira Sousa, it is alleged that a typical public bidding process was not done, but a direct and confidential negotiation. In addition to Petrobras, Karoon and ANP were included in the lawsuit.

Petrobras, in turn, claimed that in the case of Tartaruga Verde, as the current sale is 50% of the stake, no bidding is required, as it is a partial divestiture to form a partnership in the E & P field.
In the case of Baúna, whose objective is to sell 100%, the defense of the oil company argues that the sale is compatible with the modality of invitation, in two phases, and that an open sale process is not the most adequate to "obtain the best proposal ".
This is another case where unions are trying to stop the sale of assets by Petrobras. Also this year, a federal court injunction in Bahia came to stop the sale of Gaspetro, but the decision was reversed later.
Judge Telma Machado's decision was taken yesterday (17) and notified on Friday (18) to the parties.
Petrobras

In a statement, Petrobras said it will appeal the decision and stressed that all divestitures are done competitively. Read the entire comic book:
"Petrobras will appeal against the injunction that suspends the process of divestiture of concession rights in Baúna and Tartaruga Verde. The company clarifies that its disinvestment processes are aimed at ensuring a high level of competitiveness among the proponents as a means of ensuring the best business.
Petrobras considers independent opinions from financial institutions, which evaluate the transactions, attesting to whether the sale value is fair. "