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DW News

OGX has filed for bankruptcy protection

The Brazilan oil firm OGX has filed for bankruptcy protection after failing to get an extension from creditors in what's being called Latin America's biggest bankruptcy in 20 years. Its owner Eike Batista was one of the world's richest men, but his companies ran up massive debts. A huge sell-off is already under way, and one valuable asset looks like it will end up in German hands.

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