Current posture

What matters now

Raízen is now pursuing a creditor-backed restructuring in Brazil after securing support for an updated extrajudicial recovery plan from holders of 75.45% of the claims subject to the process, clearing the majority threshold required to seek confirmation. The immediate path is Brazilian approval and implementation of that plan, followed by recognition and enforcement of the eventual confirmation order in the United States through the Chapter 15 cases, as described in the foreign representative’s June status statement Dkt. 40. The group began the Brazilian proceeding and filed its U.S. recognition petitions in March 2026 after acquisition-driven leverage, elevated Brazilian interest rates, adverse harvest conditions and commodity pressure weakened liquidity and prompted credit downgrades and cross-default risk. The restructuring targets a broad unsecured financial-debt stack while leaving ordinary-course obligations to suppliers, customers and commercial partners outside the plan. At filing, creditors holding approximately 47% of subject claims had signed on, and the debtors sought a 180-day stay to prevent enforcement and preserve operating liquidity while they pursued majority support, according to the Chapter 15 Petition Dkt. 1. The updated plan offers a…

Updated Jul 31, 2026