Ann: Court approves protection for Brazilian subs, page-5

re: Ann: Court approves protection for Brazil... SP,

You don't understand what is happening.

Bankruptcy protection is to protect against foreclosure for non-payment of interest.

MUN's Brazil assets are not earning since closure of Engho. This does not mean the assets have no value:

Engenho plant
Crista
Olhos
Tocantins
Jaqueria

If management thought they were worth less than debt owing of $11m they wouldn't bother seeking protection.