Batista’s Two Bankruptcy Petitions Said to Be Analyzed TogetherCristiane Lucchesi
Eike Batista’s two companies’ bankruptcy-protection requests will be analyzed jointly and by the same judge and court in Rio de Janeiro, according to two people familiar with the matter.
The companies’ lawyers asked for the joint analysis to try to speed up the process and judge Gilberto Matos approved, the people said, asking not to be named because the decision isn’t public. That doesn’t mean that the so-called judicial recovery of the shipbuilder OSX Brasil SA and it’s biggest client, oil company OGX Petroleo e Gas Participacoes SA, will have the same ending, the people said.
OSX filed for bankruptcy protection yesterday and didn’t included its leasing unit, through which it owns the OSX-1, OSX-2 and OSX-3 platforms, as part of the judicial recovery petition. OSX’s board approved the filing on Nov. 8 and Nov. 9.
The court in Rio de Janeiro declined to comment, according to an official who asked not to be named.