Andrade Gutierrez filed for out-of-court restructuring at Belo Horizonte's 1st Business Court with debts of R$ 3.4 billion, according to A Gazeta. The conglomerate, which had already made an agreement outside judicial oversight in 2022, reported accumulating losses of more than R$ 2 billion since then. ✓
Press quotes (1)
"As empresas do grupo Andrade Gutierrez protocolaram um pedido de recuperação extrajudicial na 1ª Vara Empresarial de Belo Horizonte. Um dos principais alvos da Operação Lava Jato, o conglomerado apresentou dívidas avaliadas em R$ 3,4 bilhões à Justiça."
According to documents presented by the company, the request has already been accepted by more than 70% of creditors — the minimum percentage required for judicial approval. The company divided the request into two plans: the first covers companies in Brazil (AGE, AGCS and AGIE); the second deals with credits from AGINT, Zagope and Inzag, funds with bonds issued abroad. ✓
Press quotes (1)
"Segundo documento apresentado pela companhia, o pedido já foi aceito por mais de 70% dos credores, percentual mínimo necessário para a homologação judicial."
The company attributed the new financial difficulty to work interruptions. In December 2024, 47% of the project portfolio was paralyzed or postponed, including a R$ 1.4 billion highway in Ghana (suspended due to government default) and the Las Placetas Hydroelectric Plant in the Dominican Republic, worth R$ 3.2 billion. The appreciation of the dollar in 2024 and the rise of Selic from 2% in 2022 to 15% in December 2025 were also cited as adverse factors. ✓
Press quotes (1)
"Um fator crucial, dentre as adversidades citadas no plano, foi a interrupção de obras da companhia. Em dezembro de 2024, 47% da carteira de projetos do grupo estava paralisada ou postergada, o que afetou seu fluxo de caixa."
Andrade Gutierrez filed for out-of-court restructuring at Belo Horizonte's 1st Business Court with debts of R$ 3.4 billion
47% of the project portfolio was paralyzed or postponed in December 2024
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
The company evaluated that restructuring measures adopted in 2022 were successful
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What is Andrade Gutierrez's track record of previous restructurings?
Why it's still unknown: Sources mention the company made an agreement in 2022, but do not detail previous judicial or extrajudicial restructurings, percentages paid to creditors, or compliance with plans.
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What is the detailed composition of the R$ 3.4 billion debt by creditor type?
Why it's still unknown: Sources do not report the distribution among banks, suppliers, labor, tax, and unsecured creditors, nor identify the main individual creditors.
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How do the changes in Law 14.112/2020 affect this specific case?
Why it's still unknown: The law changed the out-of-court restructuring regime, allowing inclusion of labor credits and creating automatic suspension, but sources do not address whether Andrade Gutierrez is using these new possibilities.