Braskem Files Full Extrajudicial Restructuring Plan Covering R$187B in Debt
BAK is trading near its 52-week low of $1.83 (4.9% above the low).
Summary
Braskem filed the full text of its extrajudicial restructuring plan covering R$187.07 billion in debt, with 39.6% creditor support triggering a 90-day standstill and a negotiation timetable running through October 2026.
Key Events · Legal and Risk Events · BAK
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Full Restructuring Plan Filed
On August 24, 2026, Braskem S.A. and five subsidiaries filed the complete Extrajudicial Restructuring Plan with the 2nd Bankruptcy Court of São Paulo, 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 debtor entities.
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Creditor Support Exceeds Threshold
Signatory creditors holding 39.6% of subject credits have approved the plan, exceeding the one-third minimum required under Brazilian law to initiate the proceeding and trigger a 90-day standstill on enforcement.
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Negotiation Timetable Set
The Negotiation Framework requires an updated business plan and Updated Plan proposal by August 31, 2026, in-person meetings by September 9, 2026, and an agreement in principle by October 9, 2026.
Analysis · BAK · Industrial Applications And Services
On August 24, 2026, Braskem S.A. and five subsidiaries filed the complete text of their out-of-court restructuring plan (Recuperação Extrajudicial) with the 2nd Bankruptcy Court of São Paulo. The plan quantifies R$187.07 billion in total debt — R$56.48 billion in subject credits held by external financial creditors and R$130.60 billion in intercompany obligations — and secures a 90-day standstill on enforcement actions. Signatory creditors holding 39.6% of subject credits have already approved the plan, exceeding the one-third legal threshold. The filing also reveals the negotiation timetable: an updated business plan and proposal due August 31, 2026, in-person meetings by September 9, and an agreement in principle by October 9. This is the most detailed disclosure yet of the restructuring mechanics, creditor composition, and governance constraints, and it materially advances the company's effort to avoid a formal bankruptcy proceeding.
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 $1.92 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.