Playboy tycoon Eike Batista files for bankruptcy in Brazil

Bankruptcy can happen to any business or a family and the sad truth is that most people do not see this coming until it is too late. Obviously, bankruptcy is a result of poor financial decisions over a long time that could have accumulated into a huge mess. In the simpler sense, it is overspending more than you earn.

There are many reasons or financial crises that could lead to the edge of bankruptcy. And to the Brazilian billionaire and CEO of EBX Group Eike Batista, being a symbol of Brazil’s economic boom is not an excuse for being bankrupted. Recently, he filed a bankruptcy protection for his OGX Oil Company.

According to a report published by Perth Now, Eike Batista filed for bankruptcy protection for his OGX Petroleo e Gas Participacoes SA, part of his EBX Group conglomerate before a Rio de Janeiro state court.

For more story about this bankruptcy case, read the full article here: http://www.perthnow.com.au/business/companies/playboy-tycoon-eike-batista-files-for-bankruptcy-in-brazil/story-fnhohek5-1226750886293