Brazil’s Braskem Files for Out-of-Court Debt Rework, Report Says
16 Articles
16 Articles
Braskem has filed an out-of-court recovery request to renegotiate debts of $10.9 billion and contain the creditors' siege.
Braskem approved on Monday (24) an application for extrajudicial recovery with the Justice of São Paulo, says columnist Lauro Jardim of the newspaper O Globo. Petrochemistry, which has a debt of R$ 54 billion, will have 90 days of protection to negotiate its definitive restructuring plan. The biggest creditors are bondholders and banks Banco do Brasil and BNDES, Itaú Unibanco, Bradesco and Santander. In the last week, Braskem had said that negot…
The Board of Directors of petrochemicals Braskem approved, on Monday (24), the judgement of an application for extrajudicial recovery. In a note released to shareholders and the market in general, the company informs that the objective of the measure is to ensure a stable, protected and adequate legal environment for the negotiation and implementation of the restructuring of its debts. Created in August 2002, from the integration of six companie…
Braskem entered, this Monday, 24, with a request for extra-judicial recovery to renegotiate a debt of 10.9 billion dollars, worth equivalent to 56 billion real, with creditors. The mechanism that allows petrochemicals to negotiate and implement the restructuring of their financial obligations chirographics directly with creditors and bring the agreement to... The post Braskem asks extra-judicial recovery appeared first on The Antagonist.
Forbes, the world's most well-conceived business and economic magazine. Braskem's cash position was severely affected by low prices in the petrochemical sector The post Braskem decides to request extra-judicial recovery to restructure US$10.9 Bi in Debts apareceu primeiro em Forbes Brasil.
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