64212
Brazil to Change Bankruptcy Law
World Economy

Brazil to Change Bankruptcy Law

The Brazilian government plans to change the bankruptcy law to help indebted firms emerge faster from creditor protection, Finance Minister Henrique Meirelles said. The changes would reduce the average length of bankruptcy protection to two years, compared to between seven and eight years currently, he said in an interview with the O Estado de S. Paulo newspaper, Reuters reported. Bankers and lawyers expect bankruptcies to set a record in 2017, with tight credit and the lingering recession forcing a growing number of large Brazilian companies to seek protection from creditors. The bill, which will be submitted to Congress in June, would make it easier for companies under creditor protection to maintain operations and borrow funds, according to the article.

 

Short URL : https://goo.gl/gBOKjf
  1. https://goo.gl/gKBRf6
  • https://goo.gl/LW9ZSr
  • https://goo.gl/h4hXMh
  • https://goo.gl/1aPg8D
  • https://goo.gl/Dk4gGJ

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus