The judicial recovery of Light (LIGT3) is the eighth largest in history

Light’s Judicial Restructuring (LIFT3), if approved by the judiciary, will be the eighth largest in the country’s history. The value of the debt of the holding company that controls the Light concessionaire is $11 billion.

Light S/A argues that the inability to pay the bills is related to a public safety issue in Rio de Janeiro and not directly to an inability to renegotiate debt.

“This is a very atypical reclamation request as it indicates the state is the problem. They say that there are already many cases of cable and energy theft in Rio,” says Spot Finance’s Marcello Marin.

sources heard from Estao said that in the case of Light, government support can be counted on to ensure lighting in the state of Rio, but that the trend of companies having problems updating their accounts will continue this year.

“Another major judicial recovery is another warning that we have a problem in the economy,” says Renato Leopoldo e Silva, corporate litigation specialist at DSA Advogados.

By value, the country’s largest judicial reorganization is that of Odebrecht, which began the process with R$80 billion in debt. The second largest comes from Oi and was recently completed for R$65 billion. The third is owned by Samarco, valued at R$55 billion.

In 2023, Americanas and Oi began tracking billionaire numbers in the country.

Check out below the ten largest debt enforcement requests in the country, measured by debt value.

Odebrecht: 80 billion BRL

Hey: 65 billion BRL (end of 2022)

Samarco: 55 billion BRL

Hey: 43.7 billion BRL (2nd order)

American: 43 billion BRL

Seven Brazil: 19 billion BRL

OGX: 12.3 billion BRL

OAS: 11 billion BRL

Joao Santos Group: 11 billion BRL

Light: 11 billion BRL

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