Brazil court grants Samarco bankruptcy protection

Brazil court grants Samarco bankruptcy protection

Corporate & Sovereign Strategy Debt Debenture Funds Latin America South America Brazil United States Politics Regulation

Samarco Mineração, a joint venture between Vale and BHP Billiton, was granted bankruptcy protection from a Minas Gerais court on Tuesday, protecting the company from debt enforcement actions from foreign and domestic creditors. Samarco, which was responsible for one of the worst environmental disasters in Brazil's history, said the filing was necessary to "prevent legal actions already underway" in Brazil and the United States that could have an impact on operations, which it restarted in Decemb

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