Deadbeat ex-billionaire Batista dares bondholders to seize ship
It is a cautionary tale for Brazilian creditors, whose claims can be tied up for years in nation's maze-like legal system
Rio De Janeiro
OUT in the Atlantic Ocean, 130 miles off the coast of Brazil, an oil ship the length of New York City's Chrysler building is at the centre of an escalating legal war.
This battle pits the crude producer founded by Eike Batista, Brazil's most notorious ex-billionaire, against bondholders who loaned another of his companies US$500 million.
That comp…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Swedish manufacturer is latest to offer electric pleasure craft in Singapore
Mercedes says it will continue to invest in China tie-ups
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June
Ford profit beats on commercial sales; EVs still dragging