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Eike Batista's firm is entering judicial recovery for the second time

Eike Batista's firm is entering judicial recovery for the second time

OSX says debt amounts to R$7.94 billion; The company's main creditors include Santander, Votorantim and Caixa

The Third Business Court of the TJ-RJ (Court of Justice of Rio de Janeiro) on Monday (22 January 2023) accepted the second application for judicial recovery OSX, a company owned by Ike Batista. According to a statement sent to shareholders, The company's debts amount to R$7.94 billion. here complete For the document (PDF – 334 KB).

The court ordered a suspension of proceedings and enforcement proceedings against OSX. This is particularly true of competitive debt, especially that imposed by the company Porto do Açu Operações SA. This came due to the company's announcement She stayed in place (which is temporarily suspending fees) has closed.

TJ was also established “Suspension of the effects of all provisions relating to the termination of contracts due to default in payment of debts subject to judicial collection.” In other words, OSX will not be penalized by termination of contracts if it does not comply with financial obligations.

Furthermore, the court ordered the creditors of Porto do Aço, Caixa Economica Federal, PV Bank (Fotorantim) and Santander Bank What “Refrain from suspending the provision of their services.”As they described it “necessary”.

The TJ-RJ decision remains in effect for the duration of the OSX protection period or until the general meeting of creditors decides whether or not to approve the recovery plan. The court also ordered the company to submit a recovery plan within 60 days.

OSX Founded in 2009 For businessman Ike Batista. The first time the company entered the judicial recovery phase was in 2013. This process It closed in 2020.

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