Top Bank Creditor Uses Americanas Legal Playbook Against Ambipar

One of Ambipar Participacoes e Empreendimentos SA’s top bank creditors is turning to a legal tactic similar to what it used when Brazil’s iconic retailer Americanas SA went bust: reaching into individuals’ pockets to recoup what it’s owed.

Banco Bradesco SA — which holds 390 million reais ($72.4 million) of the waste management firm’s debt — is trying to prevent Ambipar’s integration and finance director Thiago da Costa Silva from selling assets, according to a lawsuit filed in Sao Paulo court on Tuesday. The filing alleges that Costa Silva and other officers could be held responsible for the company’s ...