Brazil engineering firm linked to Petrobras scandal files for bankruptcy
RIO DE JANEIRO, March 25 (Reuters) - Brazilian engineering firm Galvão Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petroleo Brasileiro SA cut off payments due to a broad corruption scandal in which it had been implicated.
Grupo Galvao, the parent company of Galvao Engenharia, said in a statement it has cooperated with the authorities and was never involved in the alleged corruption scheme in which a cartel of engineering and construction firms overcharged Petrobras for work, with the excess being used for bribes.
(Reporting by Stephen Eisenhammer; Editing by Lisa Shumaker)
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