Some Braskem creditors are attempting to stop the company from investing in its Mexican unit, Braskem Idesa, fearing that it could drain resources needed for Brazilian petrochemicals during the debt restructuring process. The creditors requested a temporary ban from the Justice of São Paulo on Braskem and other entities involved in the Brazilian restructuring to…
A Petrobras board member working with Braskem mentioned the possibility of Brazilian petrochemicals negotiating with creditors to reorganize approximately $11 billion in debts and preventing a need for court-supervised recovery. No definitive action has been decided regarding potential state funding for Braskem, stated William France, Petrobras’ Director of Industrial Processes, during a conference in Rio…
Magda Chambriard, the president of Petrobras, rejected the idea of increasing the state’s stake in the struggling Braskem petrochemical company. She emphasized that any further investment would require involvement from other investors. “We have no plans to increase our involvement, so Petrobras will not invest in Braskem unless other shareholders do so,” she informed reporters…
Braskem announced on Friday (25) that it received notification of a ruling from the 2nd Court of Deaths and Judicial Recovery of the Central Cible Forum of São Paulo regarding the extrajudicial recovery process of petrochemicals and five subsidiaries. The company stated that it has not received a formal subpoena regarding the decision, as it…
Braskem announced on Friday (25) that it received notification of a ruling from the 2nd Court of Deaths and Judicial Recovery of the Central Cible Forum of São Paulo regarding the extrajudicial recovery process of petrochemicals and five subsidiaries. The company has not received a formal subpoena related to the decision yet, as it is…