Former Brazilian tycoon Eike Batista’s mining company declared bankrupt

A Rio de Janeiro court, considering that the company has no way to pay its debts and continue operating, declared both MMX Mineração e Metálicos and its subsidiary MMX Corumbá Mineração to be definitively bankrupt

RIO DE JANEIRO, BRAZIL - A Rio de Janeiro court declared Wednesday the bankruptcy of MMX Mineração e Metálicos, the mining company controlled by former Brazilian tycoon Eike Batista, who was once considered the seventh richest man in the world before his conglomerate collapsed.

The Sixth Civil Chamber of the Court of Justice of Rio de Janeiro rejected a request by the mining company to revoke the decision that had declared unfeasible the recovery process filed by the company after it filed under the Bankruptcy Law.

The court, considering that the company has no way to pay its debts . . .

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