In line with what we discussed last night, once cajillionaire Eike Batista’s net wealth has now collapsed to less than -$746.5 Million according to Bloomberg as Veja notes, his “take over the world” company OGX has declared bankruptcy following the breakdown of restructuring talks with bondholders:
- *OGX FILES FOR BANKRUPTCY PROTECTION IN RIO, BATISTA LAWYER SAYS
- *BATISTA’S OGX EXTENDS DECLINE TO 30% AFTER BANKRUPTCY FILING
- *BATISTA LAWYER BERMUDES COMMENTS ON FILING BY PHONE FROM RIO
The filing puts $3.6 billion of bonds into default – the largest corporate debt debacle on record for Latin America.
As of this morning his net worth was already -$745 million..
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/FLvX80D7roI/story01.htm Tyler Durden