OBRAINSA is a company that focuses its activities on the design, construction, conservation and rehabilitation of road works, and whose principal client was the Peruvian government through the entity “PROVIAS” and regional offices. However, the reputation and finances of this company were seriously affected by the ODEBRECHT case in Peru.
We advised TECNOLOGÍA DE MATERIALES S.A. – TDM in the formulation and petition of the recognition of credits within the bankruptcy ordinary proceeding of Obrainsa. Obrainsa is a company in the construction and earthmoving services sector that was severely affected financially by its relationship and by the events of the ODEBRECHT case in Peru. Even though this fact led Obrainsa to a preventive bankruptcy process several aspects made Obrainsa to fall in an ordinary bankruptcy proceeding, which made conclude the preventive one. In this order of events, our client TDM remain having credits, as a result of leases of heavy machinery, which were essential for the development of the projects and the economic activity of Obrainsa. Thus, we have submitted the recognition of credits taking into account the previous facts and agreements that remain from the preventive bankruptcy proceeding. Now, we are waiting for the determination of recognition of credits as well as for participating in the Creditors Meeting and in following the decisions over the future of Obrainsa.
