Braskem discloses involuntary Chapter 11 petition against Braskem America Finance Company over 2041 Notes
On October 21, 2026, FFI Fund Ltd., FYI Ltd. and Olifant Fund Ltd. filed an involuntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York against Braskem America Finance Company, an indirect subsidiary of Braskem S.A. The Chapter 11 Petition relates only to America Finance and its 7.125% Notes due 2041, which have an aggregate outstanding principal amount of approximately US$589 million and are guaranteed by Braskem. The Petitioning Creditors claim to hold approximately US$27...
Key takeaways
FFI Fund Ltd., FYI Ltd., and Olifant Fund Ltd. filed an involuntary Chapter 11 petition against Braskem America Finance Company in the U.S. Bankruptcy Court for the Southern District of New York on October 21, 2026.
The petition concerns only the 7.125% Notes due 2041 issued by America Finance and guaranteed by Braskem, with an aggregate outstanding principal of approximately US$589 million.
The three petitioning creditors hold approximately US$272 million of the 2041 Notes, representing approximately 47% of the aggregate outstanding principal.
Braskem S.A. and its other subsidiaries, including those subject to the ongoing Brazilian extrajudicial reorganization and U.S. Chapter 15 cases, are not named as debtors in the Chapter 11 petition.
Braskem S.A. remains the guarantor of the 2041 Notes, but no Braskem entities other than America Finance are listed in the involuntary filing.
America Finance's disclosed purpose is to raise and manage funds in international markets to finance the operating activities of Braskem and its subsidiaries.
Primary source
TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.
Open SEC filingFollow BAK in real time
Get material earnings, filing, IR, and earnings-call alerts by email.