June 7, 2019 |
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
Brazilian federal savings bank's drive to recover debt could lead to huge losses for other lenders, source says