10/2/2013

Brazil's OGX Petróleo e Gas Participações, owned by one-time billionaire Eike Batista, did not deposit $45 million of interest payments in bondholders' accounts, moving the firm closer to what could become the biggest corporate default in Latin American history. OGX has a 30-day grace period during which it could remain current, but the company said in a securities filing that it doesn't plan to make the payment.

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Reuters, Forbes

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