Banco Safra has filed a lawsuit in a São Paulo court seeking to suspend the sale of controlling stakes in Braskem to a fund backed by IG4.
The move threatens to derail the transaction and could significantly reshape the landscape for distressed asset sales in Brazil.
The legal intervention adds a layer of complexity to Braskem’s ongoing restructuring efforts.
The Brazilian petrochemical giant has been navigating severe financial headwinds, with its credit profile deteriorating rapidly in recent months.
Any delay or cancellation of the control sale could limit options for debt restructuring and operational turnaround.
This development follows a period of heightened volatility for Braskem shares.