17 de febrero de 2016 / 11:51 / en 2 años

Schahin creditors may vote down recovery plan -report

SAO PAULO, Feb 17 (Reuters) - Creditors of Brazilian engineering group Schahin, which was snared in the country’s biggest-ever corruption investigation, may reject a recovery plan in a vote at a Wednesday assembly, according to newspaper O Estado de S. Paulo.

Estado reported, without saying how it obtained the information, that banks holding Schahin’s debt found the plan to be unrealistic and ongoing negotiations to be unproductive. A Schahin representative had no immediate comment on the report.

Twenty-eight units of Grupo Schahin filed for bankruptcy protection in April after prosecutors said the group was part of a cartel that bribed politicians and executives at state-run oil company Petroleo Brasileiro SA.

Reporting by Brad Haynes Editing by W Simon

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