Key facts
- Braskem plans to file for creditor protection on Wednesday.
- The company aims to restructure its debts out-of-court.
- Braskem will seek creditor support for the restructuring plan.
Brazilian petrochemical firm Braskem is expected to file for creditor protection on Wednesday, according to a report by Valor Economico citing unnamed sources. The company's intention is to seek support from its creditors for an out-of-court restructuring after obtaining this protection. Braskem did not immediately respond to a request for comment.