Odebrecht Achieves The Largest Judicial Recovery In Brazil's History

Odebrecht Achieves The Largest Judicial Recovery In Brazil’s History

Written by Flavia Marinho

Published on 28/07/2020 at 10:58

Odebrecht consegue na justiça a maior recuperação da história do Brasil

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Considered the Largest Bankruptcy Filing in Brazil, Odebrecht’s Request Approved, Valued at Over R$ 83 Billion in Debts by São Paulo Justice

Yesterday (07/27), the largest bankruptcy request in Brazil, that of Odebrecht and 11 companies belonging to the group, was approved by the São Paulo Justice, valued at over R$ 83 billion in debts. Odebrecht will have to sell its main companies, the petrochemical Braskem, the ethanol producer Atvos, the drilling operator Ocyan, and its stake in Saesa, the hydroelectric plant of the same name.

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The bankruptcy request from Odebrecht was already approved in April of this year by the assembly of shareholders and creditors and was awaiting ratification to begin the restructuring process.

To honor its debts, the company will have to sell its main companies, which are: the petrochemical Braskem, the ethanol producer Atvos, the drilling operator Ocyan, and its stake in Santo Antônio Energia (Saesa), the hydroelectric plant of the same name.

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Lava Jato – Odebrecht and the Corruption Scandal

In addition to debts with creditors, Odebrecht and its subsidiaries accumulate liabilities with the Justice and public administration in cases of administrative impropriety and corruption.

The company is being investigated by Operation Lava Jato, from the Federal Police and the Federal Public Ministry, for bribing politicians from various parties and for financing illegal campaign funds.

Several company executives have signed plea bargain agreements, providing information that has led to the development of other Federal Police operations.

Odebrecht Achieves The Largest Judicial Recovery In Brazil’s History

Considered the Largest Bankruptcy Filing in Brazil, Odebrecht’s Request Approved, Valued at Over R$ 83 Billion in Debts by São Paulo Justice

Read Also

Lava Jato – Odebrecht and the Corruption Scandal

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

Machine revolution failed and robot seen begging on the street: humanoid kneeling with bowl, backpack, and QR code goes viral in 11-second video as narration says there was no money to recharge the battery.

A 12-year-old boy from Alfenas obtained a license from Anatel to operate amateur radio, has already made contacts in Paraguay, and proves that one of the world’s oldest technologies still attracts thousands of new users.

Women who previously feared moving around alone in Indian cities learned to drive, became professional drivers, and turned the steering wheel into a source of income, security, and autonomy.

The $9.9 trillion agriculture that feeds the 2026 World Cup with hamburgers in Dallas, tacos in Mexico, poutine in Canada, and food for 7 million fans

The most famous district in Tokyo is tired of the litter: Shibuya now fines those who litter and threatens businesses without trash cans, showing that not even Japanese discipline has withstood the pressure of tourists, youth, and consumption on the streets.

Odebrecht Achieves The Largest Judicial Recovery In Brazil’s History

Considered the Largest Bankruptcy Filing in Brazil, Odebrecht’s Request Approved, Valued at Over R$ 83 Billion in Debts by São Paulo Justice

Read Also

Lava Jato – Odebrecht and the Corruption Scandal

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

Better than in Brazil? Havan’s owner wants to take the chain to Paraguay and Uruguay: “I confess I had never thought about it.”

How much does a gas station owner earn? A business that seems like a money-making machine can generate R$ 1.5 million per month and still profit only R$ 40,000, while the real earnings come from convenience, car wash, and extra services.

Elderly individuals may obtain essential documents without paying fees: a project that includes CIN, CNH, CPF, and work card advances in the Chamber, eliminates issuance and renewal charges, and leaves Brazilians waiting for decisive steps to see if the benefit will actually be implemented.

Paper money is disappearing from Brazilians’ pockets, with the issuance of new banknotes dropping by 31% from 2020 to 2025, amid the explosion of Pix, which became the most frequent payment method for 46% of the population, while cash plummeted from 42% to 22%.

Owner of Tok&Stok and Mobly raises alert in retail, sees debt exceed R$ 1 billion and rushes to court to try to save stores, jobs, and essential operations

Machine revolution failed and robot seen begging on the street: humanoid kneeling with bowl, backpack, and QR code goes viral in 11-second video as narration says there was no money to recharge the battery.

A 12-year-old boy from Alfenas obtained a license from Anatel to operate amateur radio, has already made contacts in Paraguay, and proves that one of the world’s oldest technologies still attracts thousands of new users.

Women who previously feared moving around alone in Indian cities learned to drive, became professional drivers, and turned the steering wheel into a source of income, security, and autonomy.

The $9.9 trillion agriculture that feeds the 2026 World Cup with hamburgers in Dallas, tacos in Mexico, poutine in Canada, and food for 7 million fans

The most famous district in Tokyo is tired of the litter: Shibuya now fines those who litter and threatens businesses without trash cans, showing that not even Japanese discipline has withstood the pressure of tourists, youth, and consumption on the streets.