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Odebrecht Business Unit “Atvos” Files Judicial Reorganization Petition

By Contributing Reporter

RIO DE JANEIRO, BRAZIL - The second largest ethanol producer in Brazil, Atvos, filed a petition for bankruptcy reorganization on Wednesday, May 29th. The company is a business unit of industrial conglomerate Odebrecht and was called Odebrecht Agroindustrial until 2017.

The request for protection from creditors came after U.S. fund manager Lone Star obtained an order from a Brazilian court to block Atvos' cash position at the beginning of this week, according to Reuters.

In January, Odebrecht proposed the transfer of control of Atvos to creditors in Brazil in exchange for a reduction in the company's . . .

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