Braskem seeks Brazil out-of-court restructuring, plans US Chapter 15 filing
Reuters2026/08/24 23:11- Braskem’s board held an extraordinary meeting on Aug. 24, 2026, authorizing protective restructuring steps for the company and certain subsidiaries.
- Directors cleared the filing of a Recuperação Extrajudicial request in Brazil, including submission of a plan on the terms outlined to the board.
- The board also authorized pursuing Chapter 15 recognition in the US to support the Brazilian protective measure, where applicable.
- Management received authority to seek similar protective measures in other jurisdictions, execute required documents, secure approvals, operate through proxies.
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