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