Creditors weigh $800 million claim against Braskem

Creditors of Braskem are evaluating compensation requests linked to the restructuring of its Mexican subsidiary, Braskem Idesa. According to filings in the 2ª Vara de Falências e Recuperações Judiciais de São Paulo, creditors estimate a minimum financial impact of $800 million on the Brazilian petrochemical firm, which represents an exposure of approximately 4 billion BRL.

The dispute centers on resources channeled toward the Mexican unit. Braskem Idesa received a total of $280 million in capital injections and debtor-in-possession financing. Out of that total, Braskem S.A. directly contributed $49 million in capital.

The pressure comes as Braskem manages its own broad debt profile. The company's extrajudicial recovery encompasses $10.9 billion in total debt volume, equivalent to 54.5 billion BRL. Separately, state-run oil company Petrobras extended a commercial credit line limit of 2.35 billion BRL to Braskem.