June 19, 2019 |
A court in São Paulo said it has accepted Odebrecht's request for bankruptcy protection and appointed the turnaround firm Alvarez & Marsal as administrator.
The 1ª Vara de Falências e Recuperações Judiciais de São Paulo also said it had given Odebrecht 60 days to present a debt restructuring plan to the court.
The Brazilian conglomerate filed for bankruptcy protection on Monday night, looking to restructure some BRL51bn ($13.2bn) in debt. The filing did not include all of Odebrecht's subs
Brazilian builder has 60 days to present a debt restructuring plan