Weekly Report - 20 June 2019 (WR-19-24)

BRAZIL | Construction giant on brink of bankruptcy. On 17 June, Brazilian conglomerate Odebrecht announced that it had filed for bankruptcy protection in a São Paulo court. The company’s overall debt totals more than R$98bn (US$25bn), of which it will be looking to restructure R$51bn (US$13bn). The bankruptcy protection request excludes some of Odebrecht’s major subsidiaries, including petrochemicals company Braskem (which accounts for R$14.5bn of Odebrecht’s total debt), contractor OEC, and ethanol producer Atvos (which already filed a separate bankruptcy protection request earlier in May).