Braskem ownership and debt restructuring

In early July 2026, a São Paulo court approved IG4 Capital’s purchase of a controlling stake in Brazilian petrochemical company Braskem, clearing the way for the new shareholder structure.

By late July, Braskem faced a stalemate with roughly one‑third of its creditor base, jeopardising a formal judicial recovery. A 60‑day protective injunction in Brazil halted about R$ 2.7 billion in payments while negotiations continued. Some creditors offered fresh financing secured by nearly all of Braskem’s assets, but the proposal was opposed by the controlling shareholders and banks, who argued the firm was already over‑leveraged.

Concurrently, New‑York‑based funds linked to Bracebridge Capital initiated litigation in the United States to separate the restructuring of Braskem America Finance from the Brazilian plan. Creditors contend that the Delaware‑incorporated vehicle should not benefit from the Chapter 15 protection granted in Brazil, citing a distinct centre of interest. The dispute involves assets valued at around R$ 2.9 billion and could lead to an independent Chapter 11 filing for the U.S. entity while the remainder of the group proceeds under the Brazilian restructuring framework.