OSX Brasil, subsidiaries’ recovery plans OK’d at creditor meetings

By Caroline Salls

Pittsburgh, Dec. 18 – OSX Brasil SA’s judicial recovery plan and the plans of its OSX Construcao Naval SA and OSX Servicos Operacionais Ltda. subsidiaries were approved in general creditors meetings held Wednesday, according to a news release.

The plans will be submitted for approval by the 3rd Corporate Court of the Judicial District of the State of Rio de Janeiro.

The effectiveness and implementation of the plans of OSX and OSX Construcao Naval are subject to the approval of Caixa Econômica Federal to the terms of the OSX Construcao Naval plan.

OSX Brasil is a Rio de Janeiro-based oil and gas holding company.

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