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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

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Published Mon, Aug 3, 2015 · 09:50 PM

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.

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