May 29, 2019 / 9:51 PM / a year ago

Brazil ethanol company Atvos says filing for bankruptcy

BRASILIA, May 29 (Reuters) - Brazilian ethanol company Atvos, a unit of industrial conglomerate Odebrecht, said on Wednesday it was filing for bankruptcy protection, according to a statement on their website.

Atvos decided to file for bankruptcy for its wholly-owned subsidiary after creditor Lone Star Funds got a court decision blocking its cash position. The company said it had to guarantee continued operations and financial stability endangered by the fund’s hostile action. (Reporting by Anthony Boadle Editing by Chris Reese)

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