Caixa could push Odebrecht to bankruptcy

Caixa could push Odebrecht to bankruptcy

Debt Loans Corporate & Sovereign Strategy Economy & Policy Regulation Brazil

Brazil's state-owned savings bank Caixa Econômica Federal could push Odebrecht to the brink of bankruptcy if it moves to foreclose on BRL7bn ($1.8bn) in loans guaranteed by the ethanol business Atvos, LatinFinance has heard. "Everyone is very concerned about how Caixa will recover its credit," said a lawyer in São Paulo who represents a creditor with $150m in Odebrecht debt. "Caixa is not willing to negotiate anymore. They are pushing for an enforcement of the credit and their collateral and t

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