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Brazil's OAS Unveils Restructuring Plan Ahead Of Deadline

reais ($259 million) as early as June 26, according to a source with knowledge of the matter. OAS filed ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Arrests Head of Odebrecht in Petrobras Scandal

In a related story, the International New York Times reported that Brazilian police on Friday arrested one of the country’s richest men, Marcelo Odebrecht, as the fallout broadens in an investigation into corruption at the state-run oil giant Petrobr ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Power Producer Eneva Missed June 15 Debt Payment

Brazilian power producer Eneva SA, which filed for bankruptcy protection in December, said on Tuesday it failed to meet a debt payment on June 15 after one of its creditors refused to postpone the maturity date, Reuters reported. The company, which is co ...

Daily Headline - global.abi.org - 06/16/2015 - 22:14 - 0 comments

Brazil Outlines $65 Billion Infrastructure Package

Dilma Rousseff stepped up her campaign to rescue Brazil’s flagging economy, announcing an infrastructure package worth almost R$200bn ($65bn) on Tuesday, the Financial Times reported. Brazil’s president outlined plans to sell to the private sector ne ...

Daily Headline - global.abi.org - 06/09/2015 - 22:31 - 0 comments

Brazil Treads Fine Line Between Inflation And Contraction

South America’s largest economy faces a difficult balancing act to avoid a potentially disastrous spiral of economic contraction as it seeks to control inflation, the Financial Times reported. Brazil’s planning minister Nelson Barbosa warned that he ...

Daily Headline - global.abi.org - 06/08/2015 - 22:04 - 0 comments

Itaú-led Group Sues Brazil's Schahin For $371 Million In Overdue Loans

Thirteen Brazilian and international banks filed a lawsuit in New York on Tuesday against two units of ailing engineering and oil conglomerate Grupo Schahin to recover $371 million in overdue principal and interest on loans, Reuters reported. The lawsuit ...

Daily Headline - global.abi.org - 05/13/2015 - 22:30 - 0 comments

Brazil's OAS Says Scandal, Restructuring To Halve Revenue

Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50 percent by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company, Reu ...

Daily Headline - global.abi.org - 04/22/2015 - 21:01 - 0 comments

Another Petrobras Subcontractor Files for Bankruptcy

Another Brazilian company has fallen to the corruption scandal surrounding Brazil’s petroleum giant, Petrobras: Schahin Group requested on Friday a bankruptcy court’s protection for 28 of its subsidiaries. The company’s statement said that the filing cov ...

Daily Headline - global.abi.org - 04/19/2015 - 19:36 - 0 comments

BNDES Sees Oil Rig Supplier Sete Brasil Reorganization By June

A reorganization plan to help oil rig supplier Sete Brasil Participações SA remain in business should be ready by the end of June, after shareholders and creditors agreed to extend financing as credit dried up, the president of Brazil's state develo ...

Daily Headline - global.abi.org - 04/16/2015 - 22:04 - 0 comments

Brazil's Ruling Party Treasurer Arrested, As Corruption Probe Circles Rousseff Government

Police arrested the treasurer of Brazil's ruling Workers' Party on Wednesday, bringing the country's largest corruption scandal a step closer to President Dilma Rousseff's government, The Sydney Morning Herald reported. Joao Vacca ...

Daily Headline - global.abi.org - 04/16/2015 - 00:00 - 0 comments

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