Andrade Gutierrez Unit Seeks Chapter 15 Bankruptcy in New York

Andrade Gutierrez Engenharia SA filed for Chapter 15 bankruptcy in New York, a move that lets the company protect its US assets while it works out a restructuring elsewhere.

• The construction company is currently undergoing a restructuring in Brazil, according to court papers
• Through the Chapter 15 bankruptcy, advisers for Andrade Gutierrez will ask a US judge to formally recognize the company’s restructuring process in Brazil
  • The maneuver stops creditors from suing the company in the US or trying to seize assets there
• The case is Andrade Gutierrez Engenharia SA and Gustavo Braga Mercher Coutinho, 22-11425, US Bankruptcy Court ...