On Wednesday, October 21, 2026, Braskem (BRKM3, BRKM5, BRKM6) reported that on October 21, 2026, creditors FFI Fund Ltd., FYI Ltd. and Olifant Fund Ltd. filed a petition for Involuntary Chapter 11 (the “Chapter 11 Petition”) against Braskem America Finance Company (“America Finance”) with the United States Bankruptcy Court for the Southern District of New York. America Finance is an indirect subsidiary of the company created to raise and manage funds in international markets to finance the operating activities of Braskem and its subsidiaries.
According to the statement, these creditors hold beneficial interests in the 7.125% notes maturing in 2041 issued by America Finance and guaranteed by Braskem (“2041 Notes”), in the principal amount of approximately US$ 272 million, which corresponds to about 47% of the aggregate outstanding nominal value of the 2041 Notes.
The Chapter 11 Petition concerns and affects only America Finance and its indebtedness, composed exclusively of the 2041 Notes, in the principal amount of approximately US$ 589 million. Braskem and its subsidiaries, including those undergoing out-of-court reorganization in Brazil and in Chapter 15 proceedings in the United States, are not listed as debtors in the Chapter 11 Petition.
