Brazil

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Brazil's OSX Says Has 60 Days To Present Restructuring Plan

Brazilian shipbuilder OSX Brasil SA has 60 days to present its restructuring plan under bankruptcy legislation now that a new judge has been appointed to the case, the company said in a filing on Friday, Reuters reported. The Third Commercial Section of ...

Daily Headline - global.abi.org - 03/23/2014 - 10:13 - 0 comments

Brazil's OSX Board Approves Terms Of Unit's Bond Restructuring

The board of OSX Brasil SA, the shipbuilder controlled by former Brazilian billionaire Eike Batista, approved key terms of the restructuring plan for its leasing unit, according to a filing on Tuesday, Reuters reported. Last week the unit, OSX 3 Leasing ...

Daily Headline - global.abi.org - 03/18/2014 - 21:32 - 0 comments

Brazil's Óleo e Gás Receives $125 Million In DIP Financing

Óleo e Gás Participações SA, the Brazilian oil producer currently under bankruptcy protection, received the first portion of a debt-in-possession financing package, according to a statement on Thursday. The company received $125 million in the so-called ...

Daily Headline - global.abi.org - 03/13/2014 - 23:30 - 0 comments

Brazil Court Suspends Deadline For OSX Restructuring Plan

A Brazilian court has suspended the deadline for shipbuilder OSX Brasil SA to present its restructuring plan under bankruptcy legislation until a new judge is appointed to the case, the company said in a statement on Thursday. The 60-day deadline to file ...

Daily Headline - global.abi.org - 02/27/2014 - 22:32 - 0 comments

Brazilian Court Blocks OSX From Joint Bankruptcy Filing With Oleo e Gas

A Brazilian court has barred shipbuilder and ship-leaser OSX Brasil SA from joining its bankruptcy protection petition to that of Oleo e Gas Participações SA, the oil company controlled by former billionaire Eike Batista, Reuters reported. Judges of the ...

Daily Headline - global.abi.org - 02/20/2014 - 23:38 - 0 comments

Batista's Oleo E Gas Bankruptcy Can Add Foreign Units

case." Oleo e Gas stock fell 4.2 percent to 0.23 reais, on track for its sixth decline in seven days, in ...

Daily Headline - global.abi.org - 02/19/2014 - 21:45 - 0 comments

Batista's OSX In Talks With Cerberus, Others Over DIP Financing

OSX Brasil SA, the bankrupt shipbuilding company controlled by former billionaire Eike Batista, is in talks with Cerberus Capital Management LP and a number of unnamed investors for a potential debtor-in-possession financing deal, Reuters reported. Curre ...

Daily Headline - global.abi.org - 02/17/2014 - 23:18 - 0 comments

Batista's OSX, Bondholders In Talks Over FPSO Lease

OSX Brasil SA, the shipbuilding and ship-leasing company controlled by businessman Eike Batista, said in a regulatory filing on Monday that it was in talks with bondholders over the lease terms of an oil production ship, Reuters reported. The ship, OSX-3 ...

Daily Headline - global.abi.org - 02/10/2014 - 23:34 - 0 comments

OGX Creditors to Inject $215 Million as Batista Bows Out

Creditors agreed to the terms of $215 million in funding for Eike Batista’s Oleo & Gas Participacoes SA that will strip control from the former billionaire, the oil company said in a statement, Bloomberg News reported. The arrangement with the compan ...

Daily Headline - global.abi.org - 02/09/2014 - 22:35 - 0 comments

Brazil's Óleo E Gás May Use Assets To Guarantee Loans

Bankrupt oil producer Óleo e Gás Participações SA, controlled by Brazilian tycoon Eike Batista, received court authorization late Monday to use its assets to guarantee a loan critical to keeping the company in operation, Reuters reported. Gilberto Clovis ...

Daily Headline - global.abi.org - 01/29/2014 - 00:26 - 0 comments

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