SAO PAULO, Jan 23 (Reuters) - Seara Indústria e Comércio de Produtos Agropecuários, a Brazilian mid-sized grain trader that sought bankruptcy protection last year, on Monday filed its recovery plan in a local court, the company said on Tuesday.
Seara Agro, based in the Paraná state and with no relations to a more well known poultry and pork processor also called Seara controlled by JBS SA, caused a management reshuffle at U.S. cooperative CHS Inc last year after defaulting on a $218 million debt with it.
The grain trader also has Bunge Ltd, Dutch bank Rabobank Groep and Credit Suisse among its creditors.
In the restructuring plan, Seara proposes a haircut of 70 percent in all debt larger than 15,000 reais ($4,666.94), 24 months of grace period and then payment in 18 annual installments.
It said it plans to immediately pay labor debts and those who have credits smaller than 15,000 reais.
As part of the plan, Seara is offering to sell some of its assets such as grain storage and transshipment installations it used to operate in Paraná and Mato Grosso states.
Creditors will vote in a future assembly if they accept the proposal or not.
$1 = 3.2141 reais Reporting by Marcelo Teixeira; Editing by Bernadette Baum