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Deadbeat Ex-Billionaire Batista Daring Bondholders to Seize Ship

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Will Bondholders Succeed in Seizing Batista Oil Ship?

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Out in the Atlantic Ocean, 130 miles off the coast of Brazil, an oil ship the length of New York City’s Chrysler building is at the center of an escalating legal war.

This battle pits the crude producer founded by Eike Batista, Brazil’s most notorious ex-billionaire, against bondholders who loaned another of his companies $500 million.