But Citibank and Deutsche Bank International were given a two-week stay pending an appeal by companies said to be linked to Paulo Maluf.
The former mayor and governor of Sao Paulo is believed to have embezzled hundreds of millions worth of dollars by fiddling construction projects and a municipal bond scheme.
Mr Maluf is alleged to have deposited millions in the Island through Swiss accounts in Geneva while he was mayor of Sao Paulo between 1993 and 1996.
He is under investigation in Brazil for embezzling money from projects he sanctioned as mayor.
It is claimed that contractors building the Ayrton Senna tunnel and a motorway invoiced the city for double the cost of the work, and that Mr Maluf and his associates pocketed the difference.
The Federal Republic of Brazil and the Municipality of Sao Paulo applied in the Royal Court for the information from the banks so that they could bring civil proceedings against Mr Maluf and anyone else involved to recover any stolen money.
The same information has already been released to the republic and municipality by the Attorney General – but under a strict caveat that it can only be used for criminal, not civil, investigations.
The banks named in the application are Citibank NA, Deutsche Bank International Ltd, Deutsche International Custodial Services Ltd, Deutsche International Corporate Services Ltd and Deutsche International Trustee Services (CI) Ltd.
The Royal Court this week handed down a judgment in favour of Brazil and Sao Paulo – represented by Advocate Damian James – but agreed to a two-week delay after Advocate Gillian Robinson, acting for four companies said to be linked to Mr Maluf, told the court that she would be appealing against the decision.
Deputy Bailiff Michael Birt granted a stay of the judgment – but told the lawyers representing the banks that they should get to work on putting the information together so that it could be released if the appeal failed.
The Deputy Bailiff was sitting with Jurats Le Brocq and Newcombe.
