Braskem S.A. faces significant opposition from bondholders over its proposal to restructure approximately $11 billion in debt.
Creditors are pressuring controlling shareholders Petrobras and IG4 Capital to provide a larger capital commitment to the plan.
The late August proposal requires creditors to inject roughly $2 billion in new capital.
This resistance complicates Braskem's financial recovery and its U.S. Chapter 15 bankruptcy recognition process.