- A Brazilian judge has accepted a request for bankruptcy protection by former billionaire Eike Batista's oil company, OGX Petroleum (OGXPY) but denied the same protection for its foreign subsidiaries, Reuters reports.
- The judge's decision will complicate the recovery process, and the company plans to appeal the ruling, OGX's lawyer tells Reuters.
- OGX sought court protection from creditors Oct. 30 after it failed to convince them to refinance $5.1B-plus in obligations, in Latin America's largest-ever corporate bankruptcy filing.
Reuters: Judge partially accepts OGX bankruptcy filing
Nov 21 2013, 18:29 ET