Another Batista company announced bankruptcy

The second company, controlled by the former Brazilian billionaire Eike Batista, reported bankruptcy. The OSX Brasil shipbuilding company filed an application with the Rio de Janeiro court less than two weeks after his sister OGX OGX, also announced its bankruptcy.

Batista is one of the most famous Brazilian businessmen who once boasted a state estimated at $ 30 billion. However, investors have recently lost confidence in his extensive business empire. A group of enterprises known under the general name EBX work in the field of energy, mining and logistics and are in a deplorable state.

The OSX shipbuilder, according to estimates, has a debt about 2.3 billion dollars. Last month, his subsidiary OGX was looking for ways to protect against creditors with debts of $ 4.8 billion, which became the largest bankruptcy in Latin America.

Under the Brazilian law, OSX should come up with a plan of debt restructuring. But even if the plan is agreed, bankruptcy is unlikely to prevent the crash of the batist, who was once considered the seventh in the ranking of the richest people in the world.

Batista’s problems began last year, when OGX announced that its oil production would be a quarter of its initial forecast, as a result of which a significant reduction in the price occurred. Analysts say that the company received large loans, promising payment through oil production, which has not even begun.