SAO PAULO, June 24 (Reuters) – Brazil’s petrochemical firm Braskem is expected to file a protective injunction against its creditors’ claims on Wednesday, local newspaper Valor Economico reported, citing unnamed sources. A source told Valor the intention is to seek, after obtaining protection, support from creditors for an out-of-court restructuring. Braskem did not immediately reply […]
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Brazil’s Braskem to file protective injunction against creditors on Wednesday, Valor reports
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SAO PAULO, June 24 (Reuters) – Brazil’s petrochemical firm Braskem is expected to file a protective injunction against its creditors’ claims on Wednesday, local newspaper Valor Economico reported, citing unnamed sources.
A source told Valor the intention is to seek, after obtaining protection, support from creditors for an out-of-court restructuring. Braskem did not immediately reply to a request for comment.
(Reporting by Fernando Cardoso; Editing by Chris Reese)