InterCement's Chapter 15 Filing and Debt Restructuring Efforts

Tuesday, 16 July 2024, 16:16

InterCement, the third-largest cement and concrete supplier in Brazil, has sought Chapter 15 recognition in a New York bankruptcy court to navigate its extensive debt burden exceeding $1 billion. The company is engaging in mediation procedures in Brazil to prevent creditor lawsuits, while simultaneously pursuing asset sales and debt resolution strategies. The move signifies a crucial step in InterCement's financial restructuring and highlights the complexities of managing significant debt obligations in a competitive market.

Law360 — InterCement's Chapter 15 Filing and Debt Restructuring Efforts

InterCement's Chapter 15 Filing and Debt Situation

InterCement, a key player in Brazil's construction industry, is struggling with over $1 billion in debts.

Creditor Mediation and Asset Sales Plan

The company is utilizing mediation procedures in Brazil to avoid creditor litigation and is actively working on selling assets to address its financial liabilities.

Significance of Chapter 15 Filing

This filing demonstrates InterCement's commitment to resolving its debt issues amidst a challenging economic environment.

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