Oil rig deal hurts Brazilian conglomerate, creditors say

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Law360 (July 14, 2021, 6:59 p.m. EDT) – Brazilian oil and gas conglomerate bankruptcy administrator has accused a group of creditors of conspiring to get paid quickly in an oil rig deal which simultaneously jeopardized the finances of the company and the interests of other creditors and wants to recover 465 million dollars for the alleged unjust enrichment.

In a lawsuit in a New York federal court, AJ Ruiz Consultoria Empresarial SA, which oversees the Schahin group’s bankruptcy proceedings in a Brazilian court, claims that Deutsche Bank and several other creditors were wrongly involved in a complex transaction involving two platforms. -forms of oil drilling to make sure they get their loans repaid. It hurt other creditors who were then …

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