Creditors file involuntary Chapter 11 petition against Braskem finance subsidiary
BAK•Three creditors filed an involuntary Chapter 11 petition against Braskem's indirect subsidiary Braskem America Finance on October 21, 2026. They hold approximately $272 million, or 47%, of its $589 million in 7.125% notes due 2041.
1. Petition filed
FFI Fund, FYI and Olifant Fund filed the petition in the U.S. Bankruptcy Court for the Southern District of New York. The petition affects only Braskem America Finance, whose debt consists exclusively of approximately $589 million in principal of the notes.
2. Parent not listed
The 7.125% notes due 2041 are guaranteed by Braskem. The parent and its other subsidiaries are not listed as debtors in the petition.
