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Financial News: BRAZIL: Supreme Court Starts Discussion On Lula Habeas

BRAZIL: Supreme Court Starts Discussion On Lula Habeas Corpus

04/04/2018 - 16:32:00 (RTTNews)

(RTTNews) - The Brazilian Supreme Court (STF) started the debate on former president Luiz Inacio Lula da Silva's habeas corpus and diverged in the first two of the eleven votes to be cast on that matter.

Lula's defense aims to keep the politician free until there are no more ways to appeal from a jail sentence for corruption and money laundering.

Market participants believe that a decision that favors Lula would be harmful to Brazilian assets because he could undermine economic reforms adopted by president Michel Temer's administration, either as a presidential candidate or using his political leverage.

Justice Edson Fachin, the first to vote Wednesday, was against the habeas corpus request. He argued that a lower instance court had already denied a similar request and that defense lawyers were unable to provide a law-related case against Lula's conviction.

However, judge Gilmar Mendes dissented and argued that criminal justice in Brazil is flawed, criticized second instance courts and voted in favor of granting Lula the habeas corpus. He also maintained that Lula's sentence should begin after a third stance court analyzes the case.

The trial continues, and nine more justices are set to vote.

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