Results for South America
- Batista's OSX, In Bankruptcy Protection, Posts $801 Million Loss
OSX Brasil SA, the financially strapped shipbuilder controlled by Brazilian tycoon Eike Batista, posted a third-quarter loss of 1.84 billion reais ($801 million), Reuters reported. The results came in late on Monday, after a Rio de Janeiro court accepted ...
Daily Headline - global.abi.org - 11/26/2013 - 21:13 - 0 comments
- Pensioners Starting To Feel Fiscal Austerity Impact, OECD Warns
Pensioners in developed economies are no longer being spared the worst effects of the financial crisis as fiscal austerity programmes aimed at curtailing spending on the elderly start to kick in, the OECD has warned, the Financial Times reported. Spe ...
Daily Headline - global.abi.org - 11/26/2013 - 21:19 - 0 comments
- Brazil Judge Accepts Bankruptcy Protection For Batista's OSX
A judge in Rio de Janeiro on Monday accepted a bankruptcy-protection request made earlier this month by OSX Brasil SA, the shipbuilder controlled by Brazilian tycoon Eike Batista, giving OSX 180 days to prepare a restructuring plan, Reuters reported. The ...
Daily Headline - global.abi.org - 11/25/2013 - 22:23 - 0 comments
- Judge Partially Accepts OGX Bankruptcy Filing
A Brazilian judge accepted a request for bankruptcy protection by former billionaire Eike Batista's oil company, OGX Petróleo e Gas Participações SA, but denied the same protection for its foreign subsidiaries, a company lawyer told Reuters on Thurs ...
Daily Headline - global.abi.org - 11/21/2013 - 20:03 - 0 comments
- Batista’s OGX Loses Partner Petronas at Most Promising Field
Finding a new partner to develop the $1-billion Capital City Centre, selling off a handful of properties and drastically cutting back operations are all part of a plan to pull the League group of companies out of creditor protection as a going concern, t ...
Daily Headline - global.abi.org - 11/18/2013 - 23:21 - 0 comments
- OSX Becomes Second Batista Company To File For Bankruptcy
OSX Brasil SA, the ship building company of troubled tycoon Eike Batista, filed for bankruptcy protection, the second such filing for a commodities empire that crumbled this year as losses piled up and investor confidence plummeted, The Wall Street Jou ...
Daily Headline - global.abi.org - 11/11/2013 - 21:10 - 0 comments
- Batista's OSX On Verge Of Bankruptcy Filing, Sources Say
OSX Brasil SA , the Brazilian shipbuilder controlled by former billionaire Eike Batista, is considering seeking court protection from creditors as early as Wednesday, three sources with direct knowledge of the plans told Reuters. OSX will likely petition ...
Daily Headline - global.abi.org - 11/06/2013 - 20:45 - 0 comments
- Brazil's Lupatech Approves Debt Restructuring Plan
Lupatech SA, a Brazilian offshore oil industry products and services provider, in a securities filing Tuesday said its board has approved a debt-for-equity swap designed to help it push past a series of missed payments to creditors, Reuters reported. Lup ...
Daily Headline - global.abi.org - 11/05/2013 - 20:52 - 0 comments
- After Bondholders, OSX, Schlumberger, Ensco Top OGX Creditor List
largest oilfield service company, which is owed at least 214.7 million reais or 1.9 percent of ...
Daily Headline - global.abi.org - 11/04/2013 - 22:16 - 0 comments
- Brazil Pledges 20% Cut in State Bank Lending to Narrow Deficit
Brazil plans to reduce lending by its development bank by about 20 percent next year to shore up finances after a wider-than-expected September deficit fueled speculation the nation’s credit rating may be cut, Bloomberg reported. Finance Minister Guido M ...
Daily Headline - global.abi.org - 11/03/2013 - 16:58 - 0 comments