SÃO PAULO, 25 June (Reuters) – Braskem () announced this Thursday that it has initiated a mediation process before the Wind Mediation Chamber and filed a request for Emergency Precautionary Protection with the 2nd Bankruptcy and Judicial Recovery Court of the District of the Capital of the State of São Paulo, in measures that only involve the petrochemical company’s financial creditors.
“The measures… were filed with the aim of preserving a stable environment for the continuation of ongoing negotiations exclusively with the aforementioned creditors in search of a consensual, structuring and orderly solution for its capital structure, aligned with the company’s liquidity position and the conditions of the global petrochemical industry”, he stated, in a relevant fact.
In the document, Braskem also states that its board of directors also approved, if necessary and at an opportune time, the adoption of possible protective measures abroad.
“Braskem clarifies and reinforces that the Mediation and the PTU (request for urgent precautionary relief) have a limited scope, strictly financial, and do not cover any obligations of the company with its suppliers, customers and other stakeholders, which remain in force and continue to be fulfilled normally, under the terms of the respective contracts.”
