Brazil

A group of Brazilian and foreign investors led by buyout firm Laep Investments may bid for Brazilian power distributor Celpa, betting that a bold turnaround could save the debt-laden company from near-bankruptcy. Laep, a private equity firm that invests ...

Daily Headline - global.abi.org - 04/30/2012 - 18:02 - 0 comments

While not necessarily predicting a bust to Brazil’s boom, a budding group of turnaround professionals in the South American nation are getting ready for what they see as an inevitable shakeup, The Wall Street Journal Bankruptcy Beat blog reported. An ...

Daily Headline - global.abi.org - 04/09/2012 - 00:08 - 0 comments

Rede Energia, the cash-strapped Brazilian power distribution company, will reach out to creditors to seek an out of court debt restructuring as it pledged to keep servicing its onerous foreign liabilities, Reuters reported. The company will contact holde ...

Daily Headline - global.abi.org - 04/02/2012 - 20:37 - 0 comments

China intends to extend renminbi loans to other Brics nations, in another step towards the internationalisation of its currency, the Financial Times reported. The China Development Bank will sign a memorandum of understanding in New Delhi with its Br ...

Daily Headline - global.abi.org - 03/07/2012 - 22:52 - 0 comments

Banks began cutting access to credit to debt-laden Brazilian electricity distributor Celpa following news reports that its parent company, Grupo Rede Energia, was up for sale, the company's largest shareholder said on Tuesday, Reuters reported. Celp ...

Daily Headline - global.abi.org - 03/06/2012 - 22:05 - 0 comments

Celpa, an electricity distribution company owned by Brazil's Grupo Rede Energia , filed for bankruptcy protection under Brazilian law on Tuesday, according to a securities filing, Reuters reported. "In spite of the efforts by management with cr ...

Daily Headline - global.abi.org - 02/28/2012 - 20:45 - 0 comments

As lending has expanded in Brazil, so too have new opportunities for debt collection, which for the first time is starting to become big business in Brazil, the Wall Street Journal reported today. Brazil's banks have been on a lending boom in re ...

Daily Headline - abi_admin - 12/30/2011 - 00:05 - 0 comments

A bankruptcy judge approved the sale of Peregrine I LLC's offshore oil-drilling vessel to La Patagonia Offshore Inc. for $5 million, Dow Jones DBR Small Cap reported today. U.S. Bankruptcy Judge Kevin Carey signed off on the sale to La Patagonia on ...

Daily Headline - abi_admin - 11/22/2011 - 18:27 - 0 comments

Itau Unibanco Holding, Brazil's largest private-sector bank, reported its best quarterly earnings for this year as trading-related gains jumped and interest income grew faster than expenses. Gains stemming from the purchase and sale of securities an ...

Daily Headline - global.abi.org - 11/01/2011 - 21:06 - 0 comments

total deposits as of December 2010 represented only 0.01 percent of Brazilian financial system assets and 0.03 percent of deposits, the central bank said in a statement. Read more. (Brazil, ...

Daily Headline - global.abi.org - 10/25/2011 - 22:30 - 0 comments