RIO DE JANEIRO May 16 OSX Brasil SA,
the troubled shipbuilder controlled by former Brazilian
billionaire Eike Batista, proposed a 25-year plan to pay back
creditors to a Rio de Janeiro bankruptcy court, the company said
on Friday in a statement.
The proposal includes an initial three-year relief period
before OSX would have to start making the payments. The
shipbuilder also said it could seek to secure additional
financing and make changes to its shareholding structure.
OSX filed for bankruptcy protection in November, as part of
the unraveling of the once high-flying empire of energy,
logistics and commodities that Batista assembled during an
economic boom in Brazil that fizzled in 2011.
At the time of its bankruptcy filing, OSX sought to
restructure a debt burden of 5.34 billion reais ($2.42 billion).
($1 = 2.12 Brazilian reais)
(Reporting by Juliana Schincariol; Editing by Lisa Shumaker)