Update: Braskem Files for Out-of-Court Restructuring of Over $10 Billion in Debt

03:57 PM EDT, 08/24/2026 (MT Newswires) -- (Updates sourcing and adds share movement in the 1st paragraph) Braskem (BAK) said Monday that its board approved the filing of an out-of-court restructuring petition covering the company and certain subsidiaries, involving about $10.9 billion in unsecured financial obligations, sending its shares down about 7%. The company said the restructuring is intended to provide a stable and protected legal environment for negotiating and implementing the restructuring of those obligations. Braskem said the process has a strictly financial scope and does not cover obligations to suppliers, customers or other stakeholders, which will continue to be fulfilled as usual. Braskem said it will file the petition once the relevant documents have been formalized and will provide further updates through its investor relations website and regulatory channels. Price: 1.86, Change: -0.14, Percent Change: -6.78