"Bankruptcy protection is a possibility that the company has considered, but there is no decision on whether we will use it," a spokeswoman for OSX in Rio de Janeiro told Reuters on Wednesday.
OSX, whose assets include an unfinished shipyard at the Port of Açú, which is located north of Rio de Janeiro state, is also one of OGX's biggest creditors. OGX owes OSX at least 2.45 billion reais, according to documents filed with the bankruptcy court.
Filing for bankruptcy protection could help OSX save its shipyard unit, part of which is ready to begin operations at Açú, two of the sources added. Açú operator LLX LogÃstica SA said it was in advanced talks with OSX and its shipyard unit to renegotiate their earlier contracts for the use of the port.
Last week's filing by OGX aimed to restructure 11.2 billion reais in debt, making it the largest-ever corporate bankruptcy filing in Latin America.
($1 = 2.29 Brazilian reais) (Additional reporting by Asher Levine and Brad Haynes in São Paulo; Editing by Lisa Von Ahn)
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