A company set up to operator Brazil’s Viracopos airport filed for protection from creditors on Monday, according to a securities filing, but assured that operations at the major cargo hub will remain normal, Reuters reported. Aeroportos Brasil SA, which in 2012 won the concession for a 51 percent stake in the Viracopos airport, is jointly owned by Triunfo Participações e Investimentos SA, UTC Engenharia SA and France’s Egis Airport Operation. Triunfo and UTC each own 45 percent of ABSA, as the operator is known, while Egis controls a 10 percent stake.

Brazil’s government needs swift congressional action to avoid defaulting on loan guarantees it has made to Venezuela and Mozambique, Bloomberg News reported. Legislators must approve the use of up to 1.5 billion reais ($424 million) to honor loans that banks made as part of a policy to finance exports. Brasilia itself is on the hook because Caracas is poised to miss a May 8 deadline for a $275 million debt installment.

The board of Brazilian telecoms regulator Anatel on Wednesday voted against a proposal by Telefonica Brasil SA to swap 3 billion reais ($861.08 million) in regulatory fines for new investments, Reuters reported. The Anatel board rejected the fine-for-investment swap by a 3-2 vote, said Juarez Quadros, head of the regulator. The company has been hit with various fines stretching back several years. Telefonica said in an emailed statement that the company lamented the regulator’s decision. It stressed it would continue investing in upgrading its operations.

The cash-strapped construction unit of Odebrecht, the Brazilian group at the centre of Latin America’s largest corruption scandal, said it would miss a Wednesday deadline for a R$500m debt payment, the Financial Times reported. But Odebrecht Engenharia e Construção said in a notice to investors that the group was in “advanced negotiations” on the payment and indicated it would be completed within a 30-day grace period, which would avoid a formal default.

Brazilian authorities said on Tuesday they had filed lawsuits against 17 people and two companies over losses suffered when the Petrobras employee pension funds and the Caixa Economica Federal invested in a special fund without due diligence, Reuters reported. The lawsuit is seeking 219 million reais ($65.55 million) in compensation, which authorities said is three times the losses caused by the poor investments. Petros did not immediately respond to a request for comment on the lawsuit. Caixa Economica’s pension fund Funcef declined to comment.

India’s Shree Renuka Sugars Ltd will try for a third time to sell sugar mills it owns in Brazil at an auction as part of a recovery plan in its in-court debt restructuring, according to court documents seen by Reuters. Renuka, which entered Brazil in 2010 and owns four sugar and ethanol plants in the country, presented a new plan to the court overseeing its bankruptcy protection case that proposed to sell the Revati or Madhu mills located in Sao Paulo state, or possibly both, Reuters reported.

A magistrate for Brazil’s Superior Court of Justice has issued an injunction that hands telecommunications firm Oi SA at least a temporary victory over shareholder Pharol SGPS SA in an ongoing legal dispute, the company said on Wednesday. In a securities filing, Oi said that magistrate Marco Buzzi had “provisionally” awarded jurisdiction in the dispute to a commercial court in Rio de Janeiro over an arbitration body that Pharol had appealed to, Reuters reported.

Brazilian telecoms company Oi SA’s board has approved the terms of a debt-for-equity swap endorsed by creditors, even as a shareholder said on Tuesday it had won a partial injunction against the plan. In a Tuesday securities filing, Oi said the board approved the issuance of up to 1,756,054,163 new shares, corresponding to a maximum 12.29 billion reais ($3.81 billion). Under the deal, unsecured bondholders will be able to participate in the capitalization of Oi by swapping a portion of their debt for shares in the company, as agreed in a restructuring plan creditors approved in December.

A Rio de Janeiro judge decided on Wednesday that a shareholders meeting called by a major equity holder in debt-laden Brazilian telecoms carrier Oi SA will have no legal effect on the company’s in-court restructuring, Reuters reported. Responding to various petitions from Oi shareholders, Judge Ricardo Lafayette Campos also upheld a plan approved by bondholders in December and courts in January to take the company out of bankruptcy protection. “I maintain ... the decision that made the recovery plan official,” he wrote.

Banks and investors involved in the court reorganization of energy group Abengoa Bioenergia Brasil SA hope to get paid through a potential sale of the company’s two sugarcane mills, two sources close to the matter told Reuters. There are non-disclosure agreements signed with four potential bidders for the mills, said one of the sources, Reuters reported. Two of the suitors already operate in the sector while the other two are investment funds, the source said.