Court accepts Odebrecht bankruptcy filing

Court accepts Odebrecht bankruptcy filing

Debt Corporate & Sovereign Strategy Loans Bonds Regulation Brazil

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 subsid

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