Last updated: November 09. 2013 9:36AM - 584 Views
Associated Press

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(AP) The shipbuilding company of Brazil's one-time richest man Eike Batista says it will file for bankruptcy protection at a Rio de Janeiro court.

OSX Brasil S.A says on its website that its board of directors Friday agreed to file for bankruptcy protection and that a special meeting of shareholders will be held on Nov.28 to ratify the decision.

Ten days ago, Batista's OGX oil company filed for bankruptcy protection after it failed to reach an agreement to delay payment to holders of $3.6 billion in bonds.

According to Vanessa Guerra, an OSX press officer, the shipbuilding company owes the equivalent of $2.3 billion to state and private banks as well as to suppliers.

Associated Press
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