Braskem Files Formal Out-of-Court Restructuring for R$187B in Debt
BAK is trading near its 52-week low of $1.83 (5.3% above the low).
Summary
Braskem formally filed its out-of-court restructuring petition in Brazil, quantifying R$187.07 billion in total debt and securing 39.6% creditor signatory support to trigger an automatic stay on enforcement actions.
Key Events · Legal and Risk Events · BAK
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Formal Restructuring Petition Filed
Braskem S.A. and five subsidiaries filed an out-of-court restructuring petition (Recuperação Extrajudicial) with the 2nd Bankruptcy Court of São Paulo on August 24, 2026, covering R$187.07 billion in total debt.
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Debt Composition Quantified
Of the R$187.07 billion total, R$56.48 billion represents subject credits held by external financial creditors, while R$130.60 billion consists of intercompany obligations between the debtor entities.
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Creditor Support Exceeds Legal Threshold
Signatory creditors holding 39.6% of subject credits have approved the restructuring plan, exceeding the one-third minimum required under Brazilian law to initiate the proceeding and obtain an automatic stay.
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Stay Period and Setoff Block Sought
The petition requests suspension of all enforcement actions and a prohibition on setoff clauses that could allow creditors to seize over R$400 million in bank deposits, which the company argues would violate equal treatment of creditors.
Analysis · BAK · Industrial Applications And Services
A formal petition has been filed with a São Paulo court to process an out-of-court restructuring covering R$187.07 billion in total debt, of which R$56.48 billion is subject to creditor negotiation. Signatory creditors holding 39.6% of subject credits have already approved the plan, exceeding the one-third legal threshold needed to initiate the proceeding and trigger an automatic stay on enforcement actions. The company is also seeking to block setoff clauses that could let creditors seize over R$400 million in bank deposits, arguing such seizures would give preferential treatment and cripple operations. This is the concrete legal step following months of mediation and a 60-day stay order granted in June, and it comes alongside a concurrent board authorization for Chapter 15 recognition in the U.S.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 43.9% of the 999 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.15%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BAK was trading at $1.93 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $658.5M. The 52-week trading range was $1.83 to $5.40. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.