Itaú-led group sues Brazil's Schahin for $371 mln in overdue loans

martes 12 de mayo de 2015 22:19 GYT
 

BRASILIA May 12 (Reuters) - Thirteen Brazilian and international banks filed a lawsuit in New York on Tuesday against two units of ailing engineering and oil conglomerate Grupo Schahin to recover $371 million in overdue principal and interest on loans.

The lawsuit comes weeks after Schahin sought for protection from creditors in Brazil and the United States, and fired 2,500 workers as a corruption scandal at key client Petróleo Brasileiro SA hampered its efforts to refinance up to 6.5 billion reais ($2.1 billion) in debt.

The banks, led by the Cayman Island-based branch of Itaú Unibanco Holding SA, are seeking to recover guarantees pledged as collateral on loans made in 2009 to rig leasing company Deep Black Drilling LLP and guaranteed by Schahin Engenharia SA.

The lawsuit also involves Schahin Holding SA, court documents obtained by Reuters showed.

Other banks include the Cayman Island units of Banco Bradesco SA, HSBC Holdings Plc's Brazilian unit, Banco Santander Brasil SA and Colombia's Bancolombia SA.

($1 = 3.0197 Brazilian reais) (Reporting by Anthony Boadle; Editing by Guillermo Parra-Bernal)