MONTERREY, MEXICO (By Isaac Silvestre, Editores Latin Petroleum, 18.Aug.2026, Words: 209) — The Mexican company Braskem Idesa, a joint venture between the Brazilian company Braskem and the conglomerate of Mexican magnate Carlos Slim, has filed for pre-arranged bankruptcy protection.
This, due to increasing financial pressure and a worsening liquidity crisis plagued by the company, according to El Financiero.
The petrochemical company filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of Texas on 17 Aug.
And, according to court documents, the company declared assets and liabilities valued between $1bn-$10bn, the daily reported on 18 Aug. 2026, citing details from Bloomberg.
The company expects to emerge from the Chapter 11 bankruptcy process in approximately 60 to 90 days and has reached a consensual restructuring agreement with all its major stakeholders, including its shareholders, Braskem Idesa announced in a separate statement.
The agreement will allow the company to reduce its debt by more than $920mn, and Braskem will retain a majority stake in the company’s restructured capital structure following its exit from bankruptcy, according to the statement.
____________________
By Isaac Silvestre reporting from Monterrey. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.
