Rio Court Approves Ambipar’s Judicial Recovery as Board Minutes Surface on Derivatives

Overview

• Judge Caroline Rossy Brandão Fonseca accepted Ambipar’s court-supervised restructuring, suspending lawsuits and requiring essential suppliers to maintain deliveries.
• Procedural deadlines were set: a provisional administrator must publish the creditor list within 45 days, the company must file its plan in 60 days, creditors get 30 days to object, and collections are stayed for up to 180 days.
• Ambipar reported roughly R$10.5 billion in debt, with a Deutsche Bank demand for guarantees on a US$35 million loan cited as a trigger that could accelerate about R$10 billion via cross‑default clauses.
• Ambipar’s U.S. unit, Ambipar Emergency Response, filed for Chapter 11, coordinating protections with the Brazilian proceeding.
• Newly reported board minutes indicate the board authorized derivative contracts tied to the crisis, complicating the company’s claim that decisions bypassed the council as police probe allegations against former CFO João Arruda.