Andrade Gutierrez, a major construction group caught up in Brazil's Car Wash corruption scandal, has filed for extrajudicial reorganization in Belo Horizonte with $3.4 billion in debts. The filing has already secured approval from over 70% of creditors, meeting the threshold for judicial approval.
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View all signals →Andrade Gutierrez filed for extrajudicial reorganization while challenging the contract award for Lot 2 of São Paulo's Metro Line 19. The filing does not materially affect the concession structure but may clear the way for contract execution and construction to begin.