Odebrecht Holding Files for Bankruptcy Protection in Brazil (1)

Odebrecht SA, the holding company of the Brazilian conglomerate that stretches from construction to oil and gas, has filed for bankruptcy protection in a Sao Paulo court.

The company asked the court for protection while it seeks to restructure more than 51 billion reais ($13.1 billion) of debt, according to a statement June 17. Units Braskem SA, Odebrecht Engenharia e Construção SA, Ocyan SA, OR SA, Odebrecht Transport SA, Enseada Indústria Naval SA are not part of the restructuring, the statement said.

Apart from the 51 billion reais, the holding company has inter-company loans and other debts totaling 98.5 billion ...