Brazil

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PDG Realty Denies Report It Is Filing for Bankruptcy Protection

PDG Realty SA said that it continues to discuss options with its financial advisers, denying a newspaper report that it would soon file for bankruptcy protection, the Brazilian homebuilder said in a securities filing, Reuters reported yesterday. PDG said ...

Daily Headline - abi_admin - 09/29/2016 - 15:10 - 0 comments

Airlines Furious As Brazil Lists Ireland As Tax Haven

Brazilian airlines are up in arms over a decision by Brazil’s tax authority to list Ireland as a tax haven, which means about 1 billion reais (€273.7m) in new taxes on aircraft leases for carriers struggling to regain profitability, the Irish Times r ...

Daily Headline - global.abi.org - 09/19/2016 - 20:45 - 0 comments

Brazil Court Delays Ruling On Grupo OAS Debt Plan For Two Weeks

A Brazilian state appeals court postponed on Monday a vote on the legality of several aspects of Grupo OAS SA's restructuring plan for at least a couple of weeks, adding uncertainty to efforts by the debt-laden engineering conglomerate to emerge fro ...

Daily Headline - global.abi.org - 09/19/2016 - 20:46 - 0 comments

Brazil Listed Homebuilder Viver Files For Bankruptcy Protection

Viver Incorporadora & Construtora SA filed for bankruptcy protection on Friday, becoming the first listed Brazilian homebuilder ever to seek an in-court reorganization amid a harsh recession, tough refinancing conditions and slumping home prices, Reu ...

Daily Headline - global.abi.org - 09/18/2016 - 18:14 - 0 comments

Pharol, Société Mondiale End Dispute Over Brazil's Oi, Sources Say

The top two shareholders in Oi SA have agreed to end their dispute over the future of Brazil's largest fixed-line carrier, which is mired in a protracted bankruptcy protection process, two people briefed on the matter said on Tuesday. Under terms of ...

Daily Headline - global.abi.org - 09/14/2016 - 23:18 - 0 comments

Brazil Prosecutors File Charges Against Ex-President da Silva and His Wife

Brazilian prosecutors filed criminal charges against former President Luiz Inácio Lula da Silva and his wife in connection with a vast graft scandal, raising the prospect that the nation’s most towering political figure could land behind bars, The Wall ...

Daily Headline - global.abi.org - 09/14/2016 - 23:18 - 0 comments

Group Of Oi Bondholders Reject In-Court Reorganization Plan

The reorganization plan presented by Brazilian phone carrier Oi SA to a bankruptcy court this week was rejected by a group of bondholders on Thursday, who accused the company of putting the interests of shareholders first, Reuters reported. The steering ...

Daily Headline - global.abi.org - 09/08/2016 - 22:21 - 0 comments

Uncertainty Over Brazil Samarco Mine Hinders Restructuring, Firm At Risk

Almost a year after a deadly dam spill at the Samarco mine, owned by BHP Billiton and Vale, there is still no date for restarting operations, complicating attempts to restructure Samarco's debt and increasing the possibility the miner may be allowed ...

Daily Headline - global.abi.org - 09/08/2016 - 22:23 - 0 comments

Oi’s Creditors Said to Oppose Proposed Restructuring Plan

Creditors of Oi SA, the Brazilian phone company that filed for bankruptcy with $20 billion of debt, view the restructuring plan the company presented late Monday as unfairly benefiting shareholders, said two people with direct knowledge of the matter, Bl ...

Daily Headline - global.abi.org - 09/07/2016 - 21:49 - 0 comments

Prosecutors Ask Brazil's Oi To Suspend Shareholders Meeting

Rio de Janeiro prosecutors have asked the court supervising Oi SA's bankruptcy proceedings to suspend a shareholders meeting scheduled for Sept. 8 to give the Brazilian phone carrier time to negotiate with a minority investor, Reuters reported. The ...

Daily Headline - global.abi.org - 08/31/2016 - 20:32 - 0 comments

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