Odebrecht SA, the once-powerful Brazilian construction firm with 110 billion reais ($35.2 billion) in debt, hired Eduardo Munhoz, founding partner at E.Munhoz Advogados, to help with the “company restructuring process.”
Munhoz was hired by the holding company about six months ago and has been working with Odebrecht Agroindustrial on its successful 13 billion-real debt restructuring for more than a year, Odebrecht said in an e-mailed statement answering questions from Bloomberg News.
The company, which is struggling to find the cash to pay for projects already in its pipeline, is selling assets and “the dialogue with banks continues in a positive way,” Odebrecht said. It added that “a bankruptcy filing isn’t an alternative.”
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