OSX Said Planning to File for Bankruptcy Protection Today
November 8, 2013 by Avila Capital Markets, Inc.
Eike Batista’s shipbuilder OSX Brasil SA (OSXB3) is planning to file for bankruptcy protection today, according to two people familiar with the matter.
OSX, which intends to exclude from the filing three vessels used as collateral for $1.77 billion of debt, will submit documents in a Rio de Janeiro court, the people said, asking not to be named as the decision hasn’t been made public. Shares fell 2.1 percent to 46 centavos at 11:32 a.m. in Sao Paulo.
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