Fictor Holding filed for bankruptcy protection in Brazil, with its holding company and a financing firm seeking to restructure 4 billion reais (about $763 million) in debt, Bloomberg reported. The Brazilian firm’s other companies, including Sao Paulo Stock Exchange-listed Fictor Alimentos, are not included in the filing, according to the report. Fictor said that it wants to pay creditors the full amount it owes but wants to block them from forcing it to pay for 180 days. The bankruptcy came about three months after the liquidation of Banco Master, according to the report.

Azul S.A. announced on Jan. 28 that its subsidiary Azul Secured Finance LLP has launched a private offering of senior secured notes due 2031 to provide exit financing under the airline’s court-approved chapter 11 restructuring plan, primarily to repay its debtor-in-possession facility and, with any remaining funds, to support a broader restructuring aimed at optimizing its capital structure and liquidity, TipRanks.com reported.

Brazil's central bank ordered on Wednesday the liquidation of Will Financeira SA, a unit of ​troubled lender Banco Master, in the latest drastic step involving ‌illiquid institutions tied to the conglomerate, Reuters reported. The move comes a day after Mastercard said that it ‌had suspended Will Bank cards from its network due to non-compliance with settlement schedules under its payments arrangement.

Brazil's Supreme Court Justice Dias Toffoli has allowed a prosecutor's request for banks to freeze assets belonging to Brazilian entrepreneur Nelson Tanure due to an investigation into lender Banco Master, according to a document made public last Friday, Reuters reported. The request was made by the country's Prosecutor General's Office. The mid-sized bank was liquidated by the central bank last November.

Brazil's central bank ordered on Thursday the liquidation of brokerage REAG, currently known as CBSF, according to a document signed by Governor Gabriel Galipolo, in the latest fallout from the collapse of mid-sized lender Banco Master, Reuters reported. The move "was prompted by serious violations of the rules governing the activities of institutions that are part of the national financial system", the central bank said in a statement.

Brazilian steel-to-energy conglomerate CSN plans to divest key assets to reduce its heavy debt burden as high interest rates squeeze financing and weigh on investment, Bloomberg News reported. The group, controlled by the billionaire Steinbruch family, has hired advisers to sell a significant stake in CSN Infraestrutura — which owns ports, railways and a logistics company — as well as control of its cement unit. The company aims to sign deals in the second half of the year.

Brazil's federal police served search and seizure warrants against businessmen Daniel Vorcaro and Nelson Tanure on Wednesday as part of an investigation into alleged fraud at Banco Master, two sources familiar with the matter told Reuters. The raids are part of the second phase of a police operation launched ‌in November, which at the time led to Vorcaro's arrest on the same ​day the Brazilian central bank ordered Banco Master's liquidation. Vorcaro was later released, but had to wear an ankle monitor.

A judge at Brazil's federal audit court TCU said on Monday that he may consider measures to prevent the sale of assets during the liquidation of Banco Master, a mid‑sized lender shut down by the Brazilian central bank in November after months of liquidity problems, Reuters reported. Judge Jhonatan de Jesus also ordered an inspection of central bank documents that underpinned its decision to wind down Master.

Azul has received U.S. bankruptcy judge approval for its chapter 11 plan, clearing the way for a balance-sheet overhaul less than seven months after the Brazilian airline sought court protection, the Wall Street Journal reported. Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York approved the largely consensual plan, overruling objections from the U.S. Trustee related to third-party releases, exculpation provisions and certain fees.

Brazilian union Sindipetro-NF, one of the largest representing Petrobras workers, has rejected the most recent proposal by the state-run oil firm to end a 12-day-long strike, it said in a statement on Friday, Reuters reported. Sindipetro-NF represents about 25,000 workers in the oil industry, including ones in Petrobras' offshore oil platforms in the Campos basin, the second-highest for oil production in Brazil.