OGX to Bring Test for Brazil Bankruptcy Model

OGX to Bring Test for Brazil Bankruptcy Model

Brazil Bonds Corporate & Sovereign Strategy

Bankruptcy protection seemed to be the likely outcome for Brazil’s OGX, after the company admitted Tuesday that weeks of discussions with creditors went nowhere. Analysts say it could set a needed example for the Brazilian bankruptcy system. The size and the involvement of large international debt investors in the bankruptcy process could push the case along in an unprecedented way, Revisson Bonfim, analyst at Espirito Santo, tells LatinFinance, and offer a useful test of the Brazilian system. A

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