Cleary Gottlieb Steen & Hamilton has represented the construction services arm of scandal-plagued Brazilian construction firm Odebrecht in a restructuring of $3.3 billion in debt and request for expedited bankruptcy.
Odebrecht has struggled with liquidity for more than six years, since Brazil unveiled Operation Car Wash—an investigation that uncovered illicit payments to government officials throughout Latin America who in turn awarded lucrative contracts to the company.
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