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US Decide Shields Brazilian Retailer Americanas from Collectors

Jan. 27, 2023, 7:52 PM

Brazilian purchasing chain Americanas SA gained safety from potential creditor actions within the US whereas the corporate’s insolvency proceedings go ahead domestically.

  • US Chapter Decide Michael Wiles permitted the corporate’s request to defend Americanas from lawsuits and different assaults by collectors, together with from bondholders below a US debt contract who’re owed about $1 billion
  • The approval is taken into account a routine a part of a Chapter 15 chapter petition; Chapter 15 permits non-US firms to hunt assist from a federal choose whereas they reorganize of their residence nations
  • The retailer, backed backed by billionaire Jorge Paulo Lemann, bumped into hassle …

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