Ambipar Gets Emergency Court Protection as Creditors Pounce (1)

Brazilian waste-management company Ambipar Participações e Empreendimentos SA was granted emergency protection against creditors after telling a court it was at risk of financial collapse — capping a bruising month that drove its bonds to record lows.

Some of the company’s lenders were demanding payments that could trigger cross-default clauses on its debt, it wrote in a filing to a Rio de Janeiro court. On Thursday, a judge suspended all collections, executions and enforcement actions against Ambipar and its related companies for 30 days, which are renewable for another 30 days, according to court documents.

Adding up all its contracts ...