Brazilian Bank With $450M Debt Gets Ch. 15 Protection

Law360, Miami (November 13, 2013, 1:21 PM EST) -- A Florida bankruptcy judge on Wednesday approved a petition for Chapter 15 protection sought by Brazilian bank Banco Pontual S.A., which owes about $450 million to more than a hundred creditors including the Central Bank of Brazil.

Chapter 15 protection is the “most efficient discovery tool of investigation” and will help the bank pursue its investigation into assets in the U.S. by giving it needed subpoena powers, the bank's counsel, Gregory S. Grossman of Astigarraga Davis Mullins & Grossman PA, told U.S. Bankruptcy Judge Laurel M....
To view the full article, register now.



Case Information

Case Title

Banco Pontual SA

Case Number



Florida Southern

Nature of Suit

Date Filed

October 22, 2013

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.