OSX Granted Bankruptcy Protection

OSX Granted Bankruptcy Protection

Brazil Corporate & Sovereign Strategy

A judge has granted bankruptcy protection to OSX Brasil and two of its subsidiaries, according to the Rio de Janeiro state court where the process was filed. The Eike Batista shipbuilder filed earlier this month for the process, known as recuperacao judicial, days after Batista’s OGX oil company. OSX Brasil and the OSX Construcao Naval and OSX Servicos Operacionais units had about $2.2bn in outstanding debt at midyear, including USD and BRL-denominated debt held by banks, investors and governmen

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