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 that it is still weighing alternatives to strengthen its capital structure and restructure its finances, the company said in the filing.

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 reported. “The impact is brutal,” said Eduardo Sanovicz, head of Brazilian airline association Abear, who will meet today with tax authorities in Brasilia to try to reverse the surprise tax decision taken without consulting the airline industry.

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 from bankruptcy protection, Reuters reported. The appeals court in São Paulo agreed earlier in the day to reconvene as early as Oct. 3 to discuss the 19 challenges put forward by a number of local and foreign creditors.

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, Reuters reported. In a securities filing, Viver said management and advisers, led by Alvarez & Marsal Holdings LLC, filed the request in a commercial court in São Paulo.

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 the accord, Pharol SGPS SA, Oi's biggest shareholder, and Brazilian investor Nelson Tanure of investment fund Société Mondiale FIA will devise and discuss strategies aimed at helping pull Oi from creditor protection, said the first person.

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 Street Journal reported. In a dramatic presentation carried live on Brazil’s main news stations, prosecutors charged Mr.

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 committee for Oi's biggest organized group of bondholders, which holds 40 percent of Oi bonds by face value, said the company's proposal includes a debt reduction of 22 billion reais ($6.9 billion), which they called "unacceptable." The committee said it is working with other creditors to submit an alternative debt restructuring proposal.

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 to run out of money. Vale and BHP have assured authorities they will cover the cost of Brazil's worst ever environmental disaster, sources familiar with their thinking say, stopping short of saying they will keep Samarco, for whom the closed mine is the only real revenue stream, afloat. Samarco's debt is trading at distressed levels.

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, Bloomberg News reported. The main issue is the right Oi has to redeem bondholders’ convertibles anytime it wants, the people said, asking not to be named because the position isn’t public yet.

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 purpose of the meeting is to decide on changes to Oi's board as proposed by activist minority investor Société Mondiale, according to a statement on Wednesday.