Brazilian National Treasury seeks to execute MMX’s $598 million debt

Brazilian National Treasury seeks to execute MMX’s $598 million debt

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The Brazilian General Attorney of the National Treasury (PGFN) currently seeks to execute a BRL 3.9 billion (nearly $598 million) debt iron ore company MMX has, according to a media report.

MMX is a Brazilian iron ore company that is currently under bankruptcy protection.

The media report said the company’s former CEO and founder, Eike Batista, tried to resume the company’s activities.

Batista reportedly filed a request to avoid MMX’s bankruptcy. The request, which was expected to be evaluated on March 31 this year was postponed to April 14.

The fact PGFN is trying to execute the debt might hamper both Batista’s and MMX’s chances of getting back on business.

MMX reportedly didn’t pay revenue taxes and fines, the media report said.

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