Unigel Participações, one of the largest chemical producers in Brazil, and four of its subsidiaries secured the support of the majority of its creditors for two restructuring plans, which allowed it to request approval from a São Paulo court to restructure debts of more than BRL 17 billion (USD 3.3 billion).
On 20 May, two restructuring plans agreed out of court were presented separately to the 2nd Bankruptcy and Judicial Recovery Court of São Paulo, one for the controlling company and the other for the four operational entities.
Advising Unigel Luxembourg, Companhia Brasileira De Estireno, Proquigel Químicos and Plastiglas are our partners Thomas Benes Felsberg, Maria da Graça Pedretti, Ligia Schlittler and Tatiana Guerra, and lawyers Victoria Villela Boacnin, Beatriz Kyrillos and Lucas von Wieser Ruggeri. Together with Padis Mattar Advogados and Simpson Thacher & Bartlett LLP.
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