Banco Master’s Failed Suitor Files for Bankruptcy Protection

Brazil’s Fictor Holding SA filed for bankruptcy protection less than three months after trying to buy Banco Master SA, as fallout spreads from the target bank’s liquidation in November.

The filing in Sao Paulo involves Fictor’s holding company and a financing firm and seeks to restructure around 4 billion reais ($763 million) in debt, according to a company statement. It doesn’t include other companies in the group, such as Fictor Alimentos SA, which is listed on the Sao Paulo Stock Exchange.