In the midst of corruption scandals, Odebrecht filed for bankruptcy

The Brazilian conglomerate Odebrecht declared bankruptcy in an attempt to restructure a millionaire debt While he was still involved in a corruption scandal that affected politicians in several Latin American countries.

The judge of the first bankruptcy court of San Pablo, Joao de Oliveira Rodrigues, has accepted the request made by ODB, the holding company which controls the various group companies, in order to avoid bankruptcy.

It is the largest judicial recovery process in Brazilian history, with debt exceeding 98 billion reais (more than 25 billion USD) although a large part of the debt (84 billion) correspond to bankruptcy credits and are subject to judicial recovery, reported the news agency EFE.

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In turn, out of these 84 billion, some 33 billion reais they are equivalent to the debts contracted between the companies of the group themselves.

In its application for receivership, ODB left out the petrochemical company Braskem, Odebrecht Engineering and Construction and Ocyan, among others, considered "essential badets" for the survival of the group.

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The problems of Odebrecht, one of the largest companies in Latin America, have begun five yearswhen the corruption scandal linked to the state was discovered Petrobras.

Surveys of Wash jato They took it for granted that the group had participated in a cartel with other companies to win contracts and that it had corrupted for years politicians and leaders of different levels, a plot that had spread to other Latin American and African countries.

J.D / C.P.