Brazil’s Ambipar Faces New Creditor Appeal to Suspend September 1 Debt Vote

Ambipar's local creditors have filed a new appeal to suspend a September 1 creditors’ meeting to restructure R$10.5 billion (US$2.04 billion) in debt. Oliveira Trust, the fiduciary agent for group debenture holders, and lender Sumitomo are leading the push against the vote. The company's waste-management business is currently restructuring R$10.5 billion in court, but it has not published financial statements since mid-2025, meaning creditors would vote on a plan with incomplete information.

A Rio de Janeiro appeals court must rule on the suspension request before the September 1 meeting, or the vote will proceed. The creditors are concerned that the recovery plan being put to a vote mirrors a similar deal signed with overseas bondholders, offering foreign lenders better terms than local lenders. Additionally, they question whether the plan's assumptions hold up without the company's recent financial results, which have not been published since the third quarter of 2025 and the full 2025 year.