19
Aug
08:55
Brazilian prosecutor targets Vale, BHP for Samarco debt
The Brazilian State of Minas Gerais Public Prosecutor's Office (MPMG) has petitioned the courts for the seizure of Vale and BHP assets up to the amount of BRL 50.7 billion ($9.47 billion) and to suspend Samarco`s judicial recovery plan (JR).
The amount is equivalent to the iron ore and pellet producer's debt. According to the terms and conditions of payment to its creditors in the JR, Samarco foresees restructuring its debt through an offer of preferred sh…
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