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Scandal-ridden Brazil giant Odebrecht seeks bankruptcy protection

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Scandal-ridden Brazil construction giant Odebrecht, which has admitted to spending nearly US$800 million to bribe officials across Latin America to win contracts, filed for bankruptcy protection on Monday, judicial sources said.

[SAO PAULO] Scandal-ridden Brazil construction giant Odebrecht, which has admitted to spending nearly US$800 million to bribe officials across Latin America to win contracts, filed for bankruptcy protection on Monday, judicial sources said.

Company lawyers filed a request with the bankruptcy court in Sao Paulo to negotiate debts of more than US$20 billion, officials quoted by Brazilian media said.

AFP

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