Eike Batista’s Corporate Woes Continue with Another Bankruptcy

Eike Batista is a Brazilian businessman, who has founded variety of businesses from oil and energy to construction and mining. Eike Batista's petroleum exploring company recently had to file for bankruptcy with $5.8 billion in debt, naval construction company was another loss to bankruptcy with $2.4 billion in debt, mining company lost to bankruptcy due to $150 million in debt, and now, the latest victim, Eneva SA (BVMF:ENEV3) (OTCMKTS:ENEVY) an electric company who has debt holdings of $900 million.  With Eneva entering bankruptcy with only 78 million reais in cash, the company also had to liquidate a stake in power plant in the utility company EDP Energias do Brasil, which netted them 300 million reais.

Eneva crumbled due to...

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