Batista's Oil Firm OGX Files For Bankruptcy In Brazil

Law360, Wilmington (October 30, 2013, 9:31 PM EDT) -- Beleaguered oil firm OGX Petroleo & Gas Participacoes SA, the petroleum arm of former billionaire Eike Batista's industrial empire, filed for bankruptcy protection in a Brazilian court on Wednesday, in what could wind up being one of the largest cases of its kind in Latin American history.

OGX’s total debts were not immediately clear Wednesday, but the firm had missed a $45 million payment at the beginning of October on $3.6 billion in bonds, and was in danger of defaulting on the debt by the end...
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