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Bankruptcy filings for big Brazil firms seen hitting another record

A growing number of large Brazilian companies will seek protection from creditors in 2017, hitting a record for a third straight year due to a harsh recession and tight credit conditions, bankers and lawyers said on Monday.

New bankruptcy filings from companies with annual revenue surpassing 50 million reais ($16 million) are expected to top the 227 requests last year, as publicly listed homebuilders and energy companies may seek in-court reorganizations, they said.

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