Brazil’s petrochemical firm Braskem is expected to file a protective injunction against its creditors’ claims on Wednesday, according to local newspaper Valor Economico.
A source told Valor the intention is to seek, after obtaining protection, support from creditors for an out-of-court restructuring. Braskem declined to comment.
Earlier in June, private equity management firm IG4 Capital and Brazilian state-run oil company Petrobras became the co-controllers of Braskem, completing a deal signed in April.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
