Since major investigations of Odebrecht began in 2016, the company has agreed to pay out billions in compensations to the governments of the United States, Brazil, Peru, Panama, the Dominican Republic, Guatemala, Ecuador and Switzerland for its major wrongdoings and corruption in each country. This is the largest bankruptcy petition in the history of Brazil. In 2016, the telephone company Oi filed for bankruptcy after failing to pay out about US16.6 billion in debts. Some companies owned by the ODB group, including its petrochemical company, Braskem, along with Ocyan, Odebrecht Transport and Atvos Agroindustrial, Brazil's second-largest ethanol producer, already applied for bankruptcy in May.
'Odebrecht to Avoid Bankruptcy Through A Recovery Plan', teleSUR