Braskem Idesa, S.a.p.i. - Chapter 11 Plan Terms

Plan Terms

Overview

• Braskem Idesa, S.A.P.I. (“BAKIDE”), Braskem Idesa Servicios, S.A. de C.V. and Braskem Idesa Ethane LLC (collectively, the “Company” or the “Debtors”) filed a joint prepackaged chapter 11 plan of reorganization in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, on Aug. 18, under Case No. 26-90762 (CML), with joint administration requested. The Plan is dated Aug. 17.
  • The Plan is proposed for the resolution of the outstanding Claims against and Equity Interests in the Debtors and is being solicited for acceptance or rejection in accordance with section 1125 of the Bankruptcy Code and within the meaning of section 1126 of the Bankruptcy Code. The Plan constitutes a separate plan proposed by each Debtor.
  • The Bankruptcy Court will hold a Combined Hearing under section 1128 of the Bankruptcy Code to consider confirmation of the Plan and approval of the Disclosure Statement under section 1125 of the Bankruptcy Code, as such hearing may be adjourned or continued from time to time.
  • Ballots are to be distributed to each Holder of an Impaired Claim entitled to vote to accept or reject the Plan, on which each Holder is to indicate, among other things, acceptance or rejection of the Plan. Holders of Existing Equity Interests, which are Impaired, are also entitled to vote.
    • The Voting Deadline — the date and time by which all Ballots must be received to be counted — is Sept. 17, 2026 (prevailing Central Time), subject to extension with the consent of the Debtors, the Consenting Shareholders and the Required Consenting Creditors.
    • Upon entry of the Confirmation Order, the Debtors will be deemed to have solicited votes in good faith and in compliance with section 1125(g) of the Bankruptcy Code, and, under section 1125(e), the Exculpated Parties, the Debtors’ and Reorganized Debtors’ directors and officers and their Related Parties will be deemed to have participated in good faith in the offer, issuance, sale and purchase of securities under the Plan, and will have no liability for violation of any law governing the solicitation of votes or the offer, issuance, sale or purchase of such securities.
  • Kroll Restructuring Administration LLC serves as claims, noticing and solicitation agent for the Debtors.
  • Subject to section 1127 of the Bankruptcy Code, Bankruptcy Rule 3019 and the terms of the Restructuring Documents, including the terms, conditions and consents in the Restructuring Support Agreement, the Debtors reserve the right to alter, amend, modify, revoke or withdraw the Plan prior to its substantial consummation.
    • Any alteration or modification of the Plan requires the consent of Braskem and the Required Consenting Creditors. Entry of the Confirmation Order constitutes approval of all modifications made after solicitation, and a finding that they do not require additional disclosure or resolicitation under Bankruptcy Rule 3019.
    • The Debtors may revoke or withdraw the Plan only before the Confirmation Date and with the consent of Braskem and the Required Consenting Creditors. If the Plan is revoked or withdrawn, or if Confirmation or the Effective Date does not occur, the Plan and any allowance, settlement, compromise, assumption or rejection embodied in it will be null and void in all respects, and nothing in the Plan will constitute a waiver or release of any Claims, Equity Interests or Causes of Action, prejudice any party’s rights or constitute an admission by any party.

Exhibits, Plan Supplement and Rules of Interpretation

• All Exhibits, including those in the Plan Supplement, are incorporated into and form part of the Plan as if set forth in full therein, and are an integral part of the Plan.
  • Holders of Claims and Equity Interests may obtain copies of the Exhibits upon written request to the Debtors.
  • The Exhibits may also be inspected in the office of the clerk of the Bankruptcy Court or its designee during normal business hours, or obtained by written request to counsel to the Debtors or from the website of the Claims and Solicitation Agent at https://restructuring.ra.kroll.com/BraskemIdesa/.
  • After the exhibits and documents in the Plan Supplement are Filed, copies are to be made available upon written request to the Debtors’ counsel or by download from the Claims and Solicitation Agent’s website or the Bankruptcy Court’s website at www.txs.uscourts.gov/page/bankruptcy-court.
• The Plan sets an order of precedence among the Restructuring Documents:
  • In an actual conflict, the consent and consultation rights in the Restructuring Support Agreement control over the Plan. Those consent rights, covering the form and substance of the Plan, all exhibits and the Plan Supplement — including amendments, supplements, waivers and other deviations — are incorporated into the Plan by reference and fully enforceable as if stated in full therein.
  • The Plan controls over the Disclosure Statement.
  • Unless otherwise ordered by the Bankruptcy Court, or as otherwise provided in the Confirmation Order or the applicable Plan Supplement document, a Plan Supplement document controls over any inconsistent part of the Plan that does not constitute the Plan Supplement.
  • Apart from consent and consultation rights and approvals, the Plan controls over the Restructuring Support Agreement.
  • The Confirmation Order controls over the Plan.

Computation of Time and Governing Law

• Bankruptcy Rule 9006(a) governs the computation of any period of time prescribed or allowed by the Plan. If the date on which a transaction may occur falls on a day that is not a Business Day, the transaction shall instead occur on the next succeeding Business Day.
  • Unless otherwise specified, including in the Restructuring Transactions Exhibit, the Equity SPV Implementation Steps or any other Definitive Document, any action to be taken on the Effective Date may be taken on, or as soon as reasonably practicable after, the Effective Date.
• Unless a rule of law or procedure is supplied by federal law, including the Bankruptcy Code and Bankruptcy Rules, or unless otherwise specifically stated in the Plan, New York law (without giving effect to conflict of laws principles) governs the rights, obligations, construction and implementation of the Plan and any agreements, documents, instruments or contracts executed in connection with the Plan, except as otherwise set forth in those agreements, in which case the governing law of such agreement controls.
  • Subject to the provisions of any contract, certificates of incorporation, by-laws, instrument, release or other agreement or document entered into in connection with and pursuant to the Plan, the rights and obligations arising under the Plan are governed by, and construed and enforced in accordance with, federal law, including the Bankruptcy Code and the Bankruptcy Rules.
  • Corporate or limited liability company governance matters relating to the Debtors or the Reorganized Debtors are governed by the laws of the applicable state of incorporation or formation.

Administrative, Priority and DIP Claims

• Each Holder of an Allowed Administrative Expense Claim, other than Holders of Professional Fee Claims and Claims for fees under section 1930 of title 28, receives cash equal to the Allowed amount on the Effective Date or as soon as reasonably practicable thereafter; if the Claim is not Allowed as of the Effective Date, no later than 30 days after the allowance order becomes a Final Order; or, if the Claim arises from ordinary course post-petition liabilities, in accordance with the terms of the transaction giving rise to it.
  • Proofs of Claim for Administrative Expense Claims, other than for Restructuring Expenses or Professional Fee Claims, must be Filed and served by the Administrative Expense Claims Bar Date — the first Business Day 30 days after the Effective Date, or such other date approved by the Bankruptcy Court. Holders that do not file by that date are forever barred, estopped and enjoined from asserting such Claims, which are automatically and finally disallowed as of the Effective Date. The burden of proof for allowance remains on the Holder.
  • The U.S. Trustee is not required to file an application for payment of an Administrative Expense Claim for statutory fees incurred during the pendency of the Chapter 11 Cases.
• Final requests for payment of Professional Fee Claims must be Filed no later than 45 days after the Effective Date, with objections due 21 days after each request is Filed. Allowed amounts are paid from the Professional Fee Escrow Account.
  • The Professional Fee Escrow Account is funded on the Effective Date in the amount of the Professional Fee Reserve Amount, is maintained in trust solely for the Professionals, is free of Liens, Claims and Equity Interests, and is not property of the Estates or the Reorganized Debtors. Any remaining balance after all Allowed Professional Fee Claims are paid is distributed to Reorganized BI. If the account is insufficient, the Reorganized Debtors pay the shortfall; the obligation is not limited to funds held in the account.
  • Professionals must deliver good-faith estimates of unpaid Professional Fee Claims no later than two Business Days before the Effective Date; the Debtors may estimate for any Professional that does not.
  • From and after the Effective Date, professional fees are paid in the ordinary course without court approval, and any requirement that Professionals comply with sections 327 through 331, 363 and 1103 in seeking retention or compensation terminates.
• Each Holder of an Allowed Priority Tax Claim receives the treatment provided by section 1129(a)(9)(C), a cash payment on the later of the Effective Date or the date the Claim becomes Allowed, or other less favorable agreed treatment. Installment payments under section 1129(a)(9)(C) are made quarterly with interest accruing under 26 U.S.C. § 6621.
• The Restructuring Expenses constitute Allowed Administrative Expense Claims and are paid in full in cash pursuant to the Restructuring Support Agreement without the need to file a proof of claim and without further order of the Bankruptcy Court. Accrued and unpaid Restructuring Expenses are paid on the Effective Date, and the Debtors and Reorganized Debtors continue to pay Restructuring Expenses necessary to implement and consummate the Plan when due in the ordinary course, whether incurred before, on or after the Effective Date.

Classification, Treatment and Voting

• Administrative Expense Claims, Professional Fee Claims, Priority Tax Claims and DIP Claims are not classified, in accordance with section 1123(a)(1) of the Bankruptcy Code. All other Claims and Equity Interests are classified in 11 Classes:
  • Class 1, Other Secured Claims — Unimpaired, presumed to accept. Each Holder receives, at the Debtors’ option and with the reasonable consent of Braskem S.A. and the Required Consenting Creditors, payment in full in cash, its collateral plus any section 506(b) interest, Reinstatement, or other treatment rendering the Claim Unimpaired.
  • Class 2, Other Priority Claims — Unimpaired, presumed to accept. Treatment consistent with section 1129(a).
  • Class 3, Senior Secured Notes Claims — Impaired, entitled to vote. Deemed Allowed as of the Effective Date in the aggregate amount due under the Senior Secured Notes Indentures, including unpaid interest accrued as of the Effective Date. Each Holder receives its Pro Rata Share of the Senior Secured Notes Exit Notes Allocation and the Equity SPV Notes; Inbursa has agreed to receive the Inbursa Equitization in lieu of its Pro Rata Share of the Equity SPV Notes.
  • Class 4, Senior Secured Term Loan Claims — Impaired, entitled to vote. Deemed Allowed as of the Effective Date in the aggregate amount due under the Senior Secured Term Loan Credit Agreement, including accrued unpaid interest. Each Holder receives its Pro Rata Share of the Senior Secured Term Loan Exit Notes Allocation.
  • Class 5, Secured PE Facility Claims — Impaired, entitled to vote. Satisfaction or payment in accordance with the Braskem Commercial Claims Schedule, subject in all respects to Section 3.8 of the Plan. Secured PE Facility Claims exclude any outstanding Claims arising from loans issued pursuant to the March 3, 2026 amendment to the Secured PE Facility Agreement.
  • Class 6, Subordinated Loans Claims — Impaired, entitled to vote. Each Subordinated Loan is to be amended and restated to extend its term beyond the term of the Exit Notes and to subordinate it to the Exit Notes, in each case to an extent and on terms satisfactory to Braskem S.A. and the Required Consenting Creditors, with all interest payable in kind.
  • Class 7, Braskem Commercial Claims — Impaired, entitled to vote. Satisfaction or payment in accordance with the Braskem Commercial Claims Schedule, subject in all respects to Section 3.8 of the Plan.
  • Class 8, General Unsecured Claims — Unimpaired, presumed to accept. Each Allowed General Unsecured Claim is Reinstated and paid in full in cash in the ordinary course or on the Effective Date, whichever is later, or receives other treatment rendering it Unimpaired. No distribution is made on account of any General Unsecured Claim satisfied before the Effective Date pursuant to a Final Order.
  • Classes 9 and 10, Intercompany Claims and Intercompany Interests — Impaired or Unimpaired; presumed to accept or deemed to reject, and in either case not entitled to vote. Each is to be either cancelled or Reinstated at the Reorganized Debtors’ discretion, subject to the consent of Braskem S.A. and the Required Consenting Creditors, not to be unreasonably withheld, conditioned or delayed.
  • Class 11, Existing Equity Interests — Impaired, entitled to vote. All Existing Equity Interests are to be canceled and each Holder receives its Pro Rata Share of the Existing Shareholder Equity Allocation in the form of Reorganized Class B Shares.
• Payment or satisfaction of all Allowed Secured PE Facility Claims and Allowed Braskem Commercial Claims may not exceed $50 million on an aggregate annual basis without the prior written consent of the Specified Directors — the directors of Reorganized BI appointed by Inbursa and the Ad Hoc Group.
  • The cap does not apply to ordinary course operational payments that create dollar-for-dollar availability under the Debtors’ current extended payment terms under the Braskem Ethane Supply & Freight Agreement, consistent with past pattern and practice.
  • The cap does apply to any cash or in-kind satisfaction of Allowed Secured PE Facility Claims and other prepayments where the ultimate recipient is Braskem, and to any payment under the Braskem Ethane Supply & Freight Agreement that reduces the Braskem-imposed maximum then-outstanding credit limit under that agreement, provided that the credit limit as of the Effective Date is to be not less than $120 million.
• Section 1129(a)(10) is to be satisfied by acceptance from one or more of the voting Classes. Any Class without an Allowed Claim or a Claim temporarily Allowed for voting purposes as of the date of the Combined Hearing is deemed eliminated. If a Class contains Claims eligible to vote and no eligible Holder votes, the Plan is presumed accepted by that Class. If a controversy arises as to whether any Claims or Equity Interests are Impaired, the Bankruptcy Court is to determine it on or before the Confirmation Date.
• Nothing in the Plan waives the Debtors’ or Reorganized Debtors’ claims, Causes of Action, rights or defenses in respect of Unimpaired or Reinstated Claims, including setoff and recoupment rights, all of which may be asserted after the Confirmation Date and Effective Date as fully as if the Chapter 11 Cases had not been commenced. The Debtors and Reorganized Debtors also reserve the right under section 510 to reclassify any Claim or Equity Interest in accordance with any contractual, legal or equitable subordination relating to it.

Means for Implementation

• The Plan incorporates a global, integrated compromise and settlement under section 1123 of the Bankruptcy Code and Bankruptcy Rule 9019 of all Claims, Equity Interests and controversies resolved under the Plan, including contractual, legal and subordination rights. Entry of the Confirmation Order constitutes the Bankruptcy Court’s approval of those compromises and a finding that they are in the best interest of the Debtors, their Estates and Holders, and are fair, equitable and reasonable.
• Distributions are to be funded with Cash on hand, including Cash from operations or asset dispositions, the Braskem Effective Date Funding, and the Exit Securities — the Reorganized Equity, the Equity SPV Notes and the Exit Notes. The Debtors and Reorganized Debtors may transfer funds among themselves as necessary to consummate the Plan, with resulting intercompany balances settled per historical practice.
• The Reorganized Equity is to be issued in three equal one-third shares, each on a fully diluted basis:
  • The Braskem Funding Equity Allocation, divided between Holders of Allowed DIP Claims and Braskem S.A. (or its Affiliate designee) in proportion to the Braskem DIP Funding Amount and the Braskem Effective Date Funding Amount. On the Effective Date, or as soon as reasonably practicable thereafter, each Holder of an Allowed DIP Claim receives its Pro Rata Share of the Braskem DIP Claims Equity Allocation in full satisfaction of its DIP Claims; the accrual of interest, fees, premiums or other amounts on the DIP Claims will not increase the total fully diluted equity Braskem receives under the Plan.
  • The Senior Secured Notes Equity Allocation, in satisfaction of $825 million of Senior Secured Notes Claims — the Senior Secured Notes Equitization Amount — issued to the Equity SPV in the form of Reorganized Class A Shares for Holders other than Inbursa, with the Equity SPV serving as Disbursing Agent to issue the Equity SPV Notes.
  • The Existing Shareholder Equity Allocation, distributed to Holders of Existing Equity Interests in the form of Reorganized Class B Shares, in consideration for their Existing Equity Interests and post-reorganization support for Reorganized BI.
• The Braskem Effective Date Funding is a $71 million cash new-money equity contribution by Braskem S.A. (or its Affiliate designee) on the Effective Date, in exchange for the Braskem Effective Date Funding Equity Allocation in the form of Reorganized Class B Shares. Upon the Confirmation Date, the Debtors are authorized to take all actions necessary to consummate that payment and issuance without further order of the Bankruptcy Court.
• The Equity SPV is established on the Effective Date pursuant to the Equity SPV Documents, which govern the Equity SPV Notes indenture, Braskem’s Put/Call Rights and related guarantee obligations, and the Equity SPV’s organizational, governance and administration arrangements. The Equity SPV Notes are secured by Liens on the terms set forth in those documents, and Reorganized BI pays the applicable fees in connection with them.
• Reorganized BI is to issue the Exit Notes — senior secured first lien notes jointly and severally guaranteed by the Reorganized Debtors under the Exit Notes Indenture, with Wilmington Savings Fund Society, FSB as indenture trustee and collateral agent. The Senior Secured Notes Exit Notes Allocation equals full principal plus accrued and unpaid prepetition and post-petition interest on the Senior Secured Notes Claims, less the $825 million Senior Secured Notes Equitization Amount; the Senior Secured Term Loan Exit Notes Allocation equals full principal plus accrued and unpaid prepetition and post-petition interest on the Senior Secured Term Loan Claims.
  • Prior to or concurrently with the Effective Date, the Exit Notes Trustee (or a collateral agent acting for it) and the Company are to enter into the trust, pledge or other documentation required under the Exit Notes Documents to create, on the Effective Date — or a later date with the consent of the Reorganized Debtors, the Exit Notes Trustee, Braskem and the Required Consenting Creditors — first-priority liens on all collateral securing the Exit Notes. That documentation must be acceptable to the Reorganized Debtors, Braskem and the Required Consenting Creditors.
  • The Exit Notes Documents and Equity SPV Documents constitute legal, valid and binding obligations not subject to discharge, avoidance, recharacterization or subordination, and the related Liens are deemed approved and perfected on the Effective Date or, if necessary, upon fulfillment of any legal formality required by law, including Mexican law.
• The offer, issuance and distribution of the Reorganized Equity is exempt from registration under section 1145 of the Bankruptcy Code, subject to the Shareholders’ Agreement transfer restrictions, applicable Mexican securities laws and any regulatory approval. The Exit Notes and Equity SPV Notes are to be offered in reliance on section 4(a)(2) of the Securities Act, Regulation D and/or Regulation S, are restricted securities, and the governing indentures are exempt from qualification under the Trust Indenture Act under section 304(b). The Equity SPV is to rely on the Investment Company Act section 3(c)(7) exemption.
  • Only Qualified Holders may receive Exit Notes and Equity SPV Notes. Non-Qualified Holders are entitled only to Substitute Consideration from a monetization of those notes, which may be zero, in which case the notes may be cancelled for no consideration; the Reorganized Debtors have no liability for any loss arising from such a sale or a failure to find a purchaser. With the consent of Braskem and the Required Consenting Creditors, the Debtors may require each Holder of Allowed Senior Secured Claims to certify its Qualified Holder status as a condition to distribution.
  • DTC is required to accept and conclusively rely on the Plan and the Confirmation Order in lieu of a legal opinion regarding the registration exemption or DTC eligibility, and no entity may require a legal opinion regarding the validity of any transaction contemplated by the Plan.
• Except as otherwise provided, as of the Effective Date all property of the Estates, including Causes of Action not released under Article VIII, vests in the Reorganized Debtors free and clear of all Claims, Liens, encumbrances and Equity Interests, and the Reorganized Debtors may operate their businesses and settle Claims without Bankruptcy Court supervision. Any Person holding a Lien, Claim or encumbrance against vested property is conclusively deemed to have consented by failing to object to confirmation.
• On the Effective Date, all notes, instruments, certificates, agreements and other documents evidencing Claims or Equity Interests are cancelled, other than those governing obligations that remain Unimpaired, with all related obligations deemed satisfied and released. Cancellation does not affect any indenture or agreement solely to the extent necessary to enable Holders to receive distributions, or any notes or documents entered into in connection with debt incurred in the ordinary course after the Petition Date.
• The Debtors or Reorganized Debtors may enter into Restructuring Transactions to effectuate the Plan, including issuing the Exit Securities, undertaking the Equity SPV Implementation Steps and obtaining the Braskem Effective Date Funding, in each case consistent with the Plan, the Restructuring Transactions Exhibit and the other Restructuring Documents. The Confirmation Order is deemed to authorize those actions under sections 363 and 1123.
  • At any time after the Confirmation Date, the Debtors or Reorganized Debtors may take action to simplify their corporate structure — including merger, liquidation or dissolution of any Debtor, a change of legal name, or closure of a Reorganized Debtor’s Chapter 11 Case — without further order of the Bankruptcy Court or any payment. Following such action, the applicable entity is deemed to have withdrawn business operations from any jurisdiction in which it was registered and is not liable for franchise, business, license or similar taxes accruing on or after that date.
• Under section 1146(a), transfers of property under the Plan are not subject to any document recording tax, stamp tax, conveyance fee, real estate transfer tax, mortgage recording tax or similar tax or governmental assessment. The cancellation of Equity Interests, any issuance, transfer or acquisition of Equity Interests under the Plan, and the revesting of assets in the Reorganized Debtors are not to be deemed a change in control under any contract to which a Debtor or Reorganized Debtor is a party.
• The directors and officers identified in the Plan Supplement are to serve as the boards and officers of the Reorganized Debtors, subject to any section 1129(a)(5) approval requirement. The Debtors are to disclose in the Plan Supplement, on or before the Confirmation Date, the identity and affiliations of proposed directors and, for any Insider, the nature of that person’s compensation. Corporate governance documents are to be consistent with section 1123(a)(6).
• On and after the Effective Date, the Reorganized Debtors are to adopt, assume or honor the Compensation and Benefits Plans in the ordinary course and honor employee claims for accrued vacation and other benefits arising before the Petition Date; retiree benefits under section 1114 continue to be paid under section 1129(a)(13).
• Unless expressly released under the Plan or by a Final Order, all Causes of Action vest in the Reorganized Debtors, which retain the exclusive right to commence, prosecute, settle or abandon them without further notice or Bankruptcy Court approval. No Entity may rely on the absence of a specific reference to a Cause of Action as an indication that it will not be pursued, and no preclusion doctrine applies as a consequence of Confirmation or Consummation.

Provisions Governing Distributions

• On the Effective Date or as soon as reasonably practicable thereafter, the Disbursing Agent — Reorganized BI and/or any agent appointed by the Reorganized Debtors — makes initial distributions on account of Claims Allowed on or before the Effective Date, subject to the Debtors’ right to object to Claims. A Disbursing Agent that is a Reorganized Debtor is not required to post a bond, and its post-Effective Date fees and expenses may be paid in cash by the Reorganized Debtors.
• No partial distributions are made on a Disputed Claim until the dispute is resolved by settlement or Final Order, and an Entity holding both an Allowed and a Disputed Claim receives nothing until all objections to the Disputed Claim are resolved. A Disputed Claim that later becomes Allowed receives the dividends or distributions previously paid to Allowed Claims in its Class.
• Distributions are made to Holders of record as of the Distribution Record Date — the Effective Date or such other date designated by the Debtors with the consent of Braskem and the Required Consenting Creditors — and the Debtors have no obligation to recognize transfers occurring on or after that date. The Distribution Record Date does not apply to distributions on the Debtors’ DTC-traded securities, which are governed by DTC’s customary practices. The Debtors, Reorganized Debtors and Disbursing Agent incur no liability on account of distributions except for fraud, gross negligence or willful misconduct.
• The Disbursing Agent is not required to distribute cash or other property on any Allowed Claim or Equity Interest where the amount to be distributed is less than $250; such Claims are discharged and forever barred, and the undistributed property becomes property of the Reorganized Debtors. There is no distribution of fractional Reorganized Equity — fractions are rounded down to the nearest whole share with no consideration in lieu.
• Distributions are subject to all applicable tax withholding and reporting requirements, including the Mexican tax requirements set out in the Senior Secured Notes Indentures for the reduced Mexican withholding income tax rate under Article 166, Section II, subsection (a) of the Mexican Income Tax Law, and distributions to Holders of Senior Secured Notes Claims are subject to the gross-up obligations in those indentures.
  • Holders must provide the information necessary to effect reporting and withholding, including tax residence certificates and invoices for Senior Secured Term Loan and Subordinated Loan Claims, and the Disbursing Agent may require a completed Form W-8 or W-9 as a condition to distribution. A Holder that does not comply within one year has its distribution deemed an Unclaimed Distribution. Each Holder bears sole responsibility for its own tax obligations, other than the Existing Notes Tax Gross-up.
• A distribution returned as undeliverable or otherwise unclaimed is retained until it becomes deliverable, but a Holder whose distribution remains undeliverable for 180 days after return, or that is not deposited, endorsed or negotiated within 180 days of issuance, has no claim to it and is forever barred from any distribution under the Plan. Such amounts are deemed unclaimed property under section 347(b) and revest in the Reorganized Debtors, notwithstanding any escheat or abandoned property law. Neither the Debtors nor the Disbursing Agent is required to locate any Holder.
• To receive its entitlement, each Holder of an Allowed Senior Secured Claim may be required to verify its position and provide certifications and KYC information at the time and in the manner agreed with Braskem and the Required Consenting Creditors. For the Senior Secured Notes, the Disbursing Agent is to establish the distribution event on DTC’s ATOP system; only Nominees participating in ATOP can effect electronic delivery on a Holder’s behalf. Questions of validity, form, eligibility and acceptance are resolved by the Reorganized Debtors with the consent of the Required Consenting Creditors, subject to review by the Bankruptcy Court.
• The Reorganized Debtors may set off against any Allowed Claim any Claims or Causes of Action they hold against the Holder, and neither the failure to effect a setoff nor the allowance of a Claim waives those rights. No Holder may set off against the Debtors or Reorganized Debtors unless the Bankruptcy Court has authorized the setoff by Final Order, regardless of any reservation asserted in a Proof of Claim. Distributions are allocated first to the principal amount of the Allowed Claim and thereafter to interest accrued through the Effective Date.
• A Claim is reduced to the extent the Holder receives payment from a party other than the Disbursing Agent, the Debtors or the Reorganized Debtors, and a Holder receiving both must notify the Debtors within five Business Days and return any excess. No distribution is made on a Claim payable under the Debtors’ insurance policies until the Holder exhausts its remedies under the policy.

Treatment of Executory Contracts and Unexpired Leases

• On the Effective Date, Executory Contracts and Unexpired Leases are deemed assumed under section 365 without further notice or order, unless previously assumed or rejected, previously expired or terminated by their own terms, subject to a motion to assume or assume and assign Filed on or before the Confirmation Date, or designated on the Schedule of Rejected Executory Contracts and Unexpired Leases. Assumption may include assignment of certain contracts to Affiliates, and the Confirmation Order constitutes approval of the assumptions, assignments and rejections.
• Cure Amounts are satisfied under section 365(b)(1) by payment in cash in the ordinary course of business or on such other terms as the parties agree.
  • Counterparties are not required to File a Proof of Claim or objection to assert or preserve any Cure Amount. All Cure Amounts are Unimpaired, and those outstanding as of the Effective Date remain continuing obligations of the Reorganized Debtors, subject to all parties’ rights and defenses.
  • All Proofs of Claim based on assumed Executory Contracts or Unexpired Leases are deemed disallowed and expunged as of the Effective Date without objection or further order.
  • Disputes over adequate assurance of future performance or any other assumption matter are heard by the Bankruptcy Court before the assumption becomes effective; the Debtors may settle such disputes and pay the agreed Cure Amount without further notice or approval, and payment following a Final Order does not delay implementation of the Plan or the Effective Date.
• Claims for damages arising from rejection are forever barred unless a Proof of Claim is filed with the Claims and Solicitation Agent and served on counsel by the Rejection Damages Objection Deadline — the first Business Day no later than 30 days after the later of the Effective Date or entry of the order approving the rejection. Allowed Rejection Damages Claims are classified and treated as General Unsecured Claims.
• Rejection does not terminate pre-existing obligations owed to the Debtors, and the Reorganized Debtors expressly reserve the right to receive amounts owed under rejected contracts, warranty and maintenance obligations on goods previously purchased, and any other rights intended to survive rejection or termination.
• The Debtors’ Indemnification Obligations remain in full force, are treated as Executory Contracts assumed under the Plan, continue as obligations of the Reorganized Debtors and survive the Restructuring on terms no less favorable than those in place before the Restructuring Transactions; provided that the Reorganized Debtors are not to indemnify for claims arising out of any act or omission that is a criminal act or constitutes intentional fraud, gross negligence or willful misconduct.
• All Insurance Contracts are treated as Executory Contracts, deemed assumed on the Effective Date and revested in the Reorganized Debtors. The Debtors are to maintain tail coverage under the D&O Policies for six years following the Effective Date on terms no less favorable, and with an aggregate limit no less than, the existing policies, and may not terminate or reduce coverage under any director, officer and employee liability policy in effect on or before the Effective Date. Current and former directors, officers, managers and employees are entitled to the full benefits of any such policy for its full term regardless of whether they remain in their positions.
• Nothing in the Plan or Plan Supplement is an admission that a contract or lease is an Executory Contract or Unexpired Lease. If a dispute arises over that characterization, the Debtors or Reorganized Debtors have 45 days following entry of a Final Order resolving it to alter their treatment of the contract or lease, without prejudice to their right to extend that period by notice.

Procedures for Resolving Disputed Claims

• Notwithstanding section 502(a), and in light of the Unimpaired status of all Allowed General Unsecured Claims, Holders of Claims other than Administrative Expense Claims and Rejection Damages Claims need not File Proofs of Claim, and except as otherwise provided in the Plan no party is required or permitted to File one.
  • The Debtors do not intend to object to the allowance of Claims Filed, though they reserve the right to object to any Claim entitled to a distribution or rendered Unimpaired. Disputes over the validity and amount of Claims are instead determined in the ordinary course of business as if the Chapter 11 Cases had not been commenced and in accordance with the Debtors’ books and records.
  • Unless disputed by the Holder, the amount in the Debtors’ books and records constitutes the Allowed amount of the Claim, subject to the limits of the Bankruptcy Code. A Holder that disagrees must advise the Reorganized Debtors in writing within 30 days of receiving a distribution, at which point the Claim becomes a Disputed Claim.
  • All Proofs of Claim Filed, other than for Administrative Expense Claims or Rejection Damages Claims, are considered objected to and Disputed without further action, and are deemed withdrawn and expunged upon the Effective Date, including those Filed after the Effective Date. Proofs of Claim Filed after the Effective Date, other than for those two categories, are disallowed and forever barred without objection or further order.
  • Disputes over Cure Amounts under section 365 and Claims the Debtors seek to have determined under Article VI are in all cases determined by the Bankruptcy Court, as is the Allowance of any Rejection Damages Claim.
• After the Effective Date, the Reorganized Debtors have sole authority to File, withdraw or litigate objections to Claims, to settle or compromise any Disputed Claim without further notice or Bankruptcy Court approval, and to adjust the Claims Register accordingly.
  • Objections to Claims and Equity Interests other than General Unsecured Claims, and objections to Rejection Damages Claims, must be served and Filed on or before the 180th day after the Effective Date or such later date as may be noticed by the Debtors or Reorganized Debtors. Claims not objected to within that period are deemed Allowed unless the period is extended upon Bankruptcy Court approval.
  • The Debtors and Reorganized Debtors remain entitled to dispute any General Unsecured Claim under applicable non-bankruptcy law, with such disputes determined as if the Chapter 11 Cases had not been commenced, surviving the Effective Date, and with all claims and defenses of both sides preserved.
• The Debtors or Reorganized Debtors may request that the Bankruptcy Court estimate any Disputed Claim under section 502(c) before or after the Effective Date. An estimated amount constitutes a maximum limitation on the Claim for all purposes under the Plan, including distributions. Notwithstanding section 502(j), no Holder whose Claim has been estimated may seek reconsideration unless it files a motion requesting that right on or before 21 days after the date the Claim is estimated.
• Unless expressly provided in the Plan or ordered by the Bankruptcy Court, post-petition interest does not accrue or get paid on Claims, and no interest accrues on a Disputed Claim for the period from the Effective Date to final distribution. No payments are made on a Disputed Claim until all objections are settled, withdrawn or determined by Final Order.
• Claims held by Entities from which property is recoverable under sections 542, 543, 550 or 553, or that are transferees of avoidable transfers under sections 522(f), 522(h), 544, 545, 547, 548, 549 or 724(a), are deemed disallowed under section 502(d), and such Holders may receive no distributions until the related Causes of Action are resolved and all sums due are turned over.

Releases, Exculpation and Injunction

• Effective as of the Effective Date, the distributions, rights and treatment under the Plan are in complete satisfaction, discharge and release of all Claims, Equity Interests, Causes of Action and Liens against the Debtors, the Estates and the Reorganized Debtors, whether or not a Proof of Claim was Filed, the Claim was Allowed or the Holder voted. The Confirmation Order is a judicial determination of the discharge, which voids any judgment obtained against the Debtors relating to a discharged Claim. All mortgages, deeds of trust, Liens, pledges and other security interests against Estate property are to be fully released and discharged, except as provided in the Exit Notes Documents, the Plan or the Confirmation Order.
• The Debtors, the Reorganized Debtors and their estates release the Released Parties from all Claims and Causes of Action based on or relating to the Company-Related Matters. The Releasing Parties — Holders that vote to accept, and Holders that vote to reject or abstain and do not affirmatively opt out, together with each Released Party and certain Related Parties — grant a parallel release to the Debtors, the Reorganized Debtors, their estates and the Released Parties.
  • Neither release covers acts or omissions judicially determined by a final order to have constituted intentional fraud, gross negligence, recklessness or willful misconduct, or post-Effective Date obligations under the Plan, the Confirmation Order, any Restructuring Transaction or any Definitive Document. Fraud does not exempt Causes of Action under sections 544 or 548 of the Bankruptcy Code or state fraudulent transfer law from the releases. The Debtor release also excludes claims relating to contracts the Debtors continue to perform after the Petition Date, and any Retained Causes of Action.
  • TQPM is in no event a Released Party, regardless of whether it qualifies as a Related Party. The Releasing Parties are not deemed to release TQPM or — solely to the extent arising under or directly connected to the TQPM Agreements — Braskem, Advario B.V. and Oiltanking GmbH.
  • Any Entity that affirmatively opts out of the releases, or that timely objects to them with the objection unresolved before the Combined Hearing, is neither a Released Party nor a Releasing Party.
  • Entry of the Confirmation Order constitutes Bankruptcy Court approval of both releases under Bankruptcy Rule 9019 and a finding that they are given for good and valuable consideration, are a good faith settlement, are in the best interests of the Debtors and their Estates, are fair, equitable and reasonable, and bar any released Claim or Cause of Action.
• The Exculpated Parties are the Debtors and each independent director of the Debtors. Exculpation covers acts and omissions in connection with the Company-Related Matters taken from the Petition Date through the Effective Date, other than acts determined by a Final Order to have constituted actual fraud, gross negligence or willful misconduct, and does not reach post-Effective Date obligations or any Retained Causes of Action. Exculpated Parties are entitled to rely on advice of counsel with respect to their duties under the Plan.
• Holders of released, discharged or exculpated Claims and Equity Interests are permanently enjoined from commencing or continuing actions, enforcing judgments, creating or enforcing encumbrances, or asserting setoff, subrogation or recoupment against the Debtors, the Reorganized Debtors, the Released Parties or the Exculpated Parties on account of such Claims or Equity Interests, unless in the case of setoff the Holder has filed a motion requesting that right on or before the Confirmation Date. No Person may pursue a claim against a Released Party or Exculpated Party covered by Article VIII without the Bankruptcy Court first determining, after notice and a hearing, that the claim is colorable and not released or exculpated, and specifically authorizing it; the Bankruptcy Court has sole and exclusive jurisdiction to adjudicate the underlying colorable claim.
• All injunctions and stays arising under or entered during the Chapter 11 Cases, including under section 362, and in existence on the Confirmation Date remain in full force until the later of the Effective Date and the date set forth in the order providing for them. Consistent with section 525 and the Supremacy Clause, no Entity, including any Governmental Authority, may discriminate against the Reorganized Debtors or deny, revoke, suspend or refuse to renew a license, permit, charter, franchise or similar grant solely because a Debtor was a debtor under chapter 11 or was insolvent before or during the Chapter 11 Cases.
• No Holder may recoup any Claim or Equity Interest against any Claim, right or Cause of Action of the Debtors or Reorganized Debtors unless it actually performed the recoupment and gave written notice on or before the Confirmation Date. If the Bankruptcy Court disallows a Claim for reimbursement or contribution under section 502(e)(1)(B), that Claim is forever disallowed to the extent contingent as of the Effective Date, notwithstanding section 502(j), unless it was adjudicated noncontingent or a noncontingent Proof of Claim was filed and a Final Order entered before the Effective Date.

Conditions Precedent to the Effective Date

• Consummation of the Plan is conditioned on satisfaction or waiver of, among other things:
  • Entry of the Confirmation Order as a Final Order, consistent in all respects with the Restructuring Support Agreement.
  • The Restructuring Support Agreement remaining in full force and effect and not terminated, and the Final DIP Order remaining in full force and effect.
  • The Debtors having obtained all authorizations, consents, regulatory approvals, rulings or documents necessary to implement the Plan.
  • Execution or Filing of final versions of the Plan, the Definitive Documents and all Plan Supplement documents in form and substance consistent with the Restructuring Support Agreement or otherwise acceptable to the applicable parties.
  • Payment in full in cash of all accrued and unpaid Braskem Fees and Expenses, Inbursa Advisors’ Fees and Expenses, Ad Hoc Group Advisors’ Fees and Expenses, Exit Notes Trustee’s Fees and Expenses, Senior Secured Notes Trustees’ Fees and Expenses, Equity SPV Notes Trustee’s Fees and Expenses and Equity SPV Notes Administrator’s Fees and Expenses.
  • Braskem S.A. (or its Affiliate designee) having funded the Braskem Effective Date Funding, and valid issuance of the Reorganized Equity by Reorganized BI.
  • Due execution and delivery of the Exit Notes Documents, formation of the Equity SPV and due execution and delivery of the Equity SPV Notes Documents, with all conditions precedent to issuance of the Exit Notes and Equity SPV Notes satisfied or waived in writing.
  • Due execution and, where required, filing of all Organizational Documents, and payment in full in cash of all professional fees and expenses requiring Bankruptcy Court approval or funding of the Professional Fee Reserve Amount into the Professional Fee Escrow Account.
  • Such other conditions as may be mutually agreed by the Debtors, Braskem and the Required Consenting Creditors, consistent with their consent and approval rights under the Restructuring Support Agreement.
• With the consent of Braskem and the Required Consenting Creditors, the Debtors may amend, modify, supplement or waive any of these conditions at any time without notice to any other party in interest, without further notice to or action, order or approval of the Bankruptcy Court, and without any formal action other than proceeding to confirm or consummate the Plan.
• Substantial consummation of the Plan, as defined in section 1101(2) of the Bankruptcy Code, is deemed to occur on the Effective Date.

Immediate Binding Effect

• Subject to Article X of the Plan and notwithstanding Bankruptcy Rules 3020(e), 6004(h) or 7062 or otherwise, upon the occurrence of the Effective Date the terms of the Plan, the final versions of the documents contained in the Plan Supplement and the Confirmation Order shall be immediately effective and enforceable and deemed binding upon:
  • The Debtors or the Reorganized Debtors, as applicable.
  • Any and all Holders of Claims or Equity Interests, regardless of whether such Holders are Impaired or Unimpaired, have or are deemed to have accepted or rejected the Plan, or failed to vote.
  • All Entities that are parties to or subject to the settlements, compromises, releases and injunctions provided for in the Plan.
  • Each Entity acquiring property under the Plan or the Confirmation Order, and any and all non-Debtor parties to Executory Contracts and Unexpired Leases.
• All Claims and Equity Interests shall be fixed, adjusted or compromised, as applicable, pursuant to the Plan regardless of whether any Holder has voted on the Plan.
• On the Effective Date, except as otherwise indicated, the Plan, the Plan Supplement and the Confirmation Order supersede all previous and contemporaneous negotiations, promises, covenants, agreements, understandings and representations on such subjects, all of which are merged and integrated into the Plan.

Additional Documents and Reservation of Rights

• On or before the Effective Date, the Debtors may File with the Bankruptcy Court such agreements and other documents as may be necessary or appropriate to effectuate and further evidence the terms and conditions of the Plan, subject to, and solely to the extent not inconsistent with, the Restructuring Support Agreement.
  • The Debtors or the Reorganized Debtors, all Holders of Claims or Equity Interests receiving distributions under the Plan and all other parties in interest shall, from time to time, prepare, execute and deliver any agreements or documents and take any other actions as may be necessary or advisable to effectuate the provisions and intent of the Plan.
• Except as expressly set forth in the Plan, the Plan shall have no force or effect unless the Bankruptcy Court enters the Confirmation Order, and the Confirmation Order shall have no force or effect unless the Effective Date occurs.
  • Prior to the Effective Date, neither the Plan, any statement or provision contained in the Plan, nor any action taken or not taken by any Debtor with respect to the Plan, the Disclosure Statement, the Confirmation Order or the Plan Supplement shall be deemed an admission or waiver of any rights of any Debtor with respect to Holders of Claims or Equity Interests.
  • If the Plan is not confirmed or consummated, the characterization of any Claim as secured or unsecured for classification and treatment purposes shall not constitute an admission, stipulation or binding determination as to the nature, extent, validity, priority or enforceability of any Lien, security interest or other encumbrance securing such Claim, and all parties in interest are expressly reserved with respect thereto.
• Nothing in the Plan shall be deemed an admission by the Debtors with respect to any matter set forth therein, including liability on any Claim.
• Each Holder of a Claim or Interest is deemed to have waived any right to assert any argument, including that its Claim or Interest should be Allowed in a certain amount or priority, secured or not subordinated, by virtue of an agreement made with the Debtors, their counsel or any other Entity, if such agreement or the Debtors’ or Reorganized Debtors’ right to enter into settlements was not disclosed in the Plan, the Disclosure Statement or a pleading Filed with the Bankruptcy Court or the Claims and Solicitation Agent prior to the Confirmation Date.

Successors and Assigns

• The rights, benefits and obligations of any Entity named or referred to in the Plan or the Confirmation Order shall be binding on, and shall inure to the benefit of, any heir, executor, administrator, successor or assign, Affiliate, officer, director, manager, agent, representative, attorney, beneficiaries or guardian, if any, of each Entity.

Nonseverability of Plan Provisions

• If, prior to Confirmation, any term or provision of the Plan is held by the Bankruptcy Court to be invalid, void or unenforceable, the Bankruptcy Court shall have the power to alter and interpret such term or provision to make it valid or enforceable to the maximum extent practicable, consistent with the original purpose of the term or provision, and such term or provision shall then apply as altered or interpreted.
  • Notwithstanding any such holding, alteration or interpretation, the remainder of the terms and provisions of the Plan will remain in full force and effect and will in no way be affected, impaired or invalidated.
  • The Confirmation Order shall constitute a judicial determination and shall provide that each term and provision of the Plan, as it may have been altered or interpreted, is (a) valid and enforceable pursuant to its terms, (b) integral to the Plan and (c) non-severable and mutually dependent.

Taxes and Closing of the Chapter 11 Cases

• The Debtors or the Reorganized Debtors, as the case may be, shall have the right to request an expedited determination under section 505(b) of the Bankruptcy Code with respect to tax returns filed, or to be filed, for any and all taxable periods ending after the Petition Date through the Effective Date.
• All fees payable under section 1930 of title 28, as determined by the Bankruptcy Court, are to be paid for each quarter, including any fraction of a quarter, until the Chapter 11 Cases are converted, dismissed or closed, whichever occurs first.
  • On the Effective Date, or as soon as reasonably practicable thereafter, the Reorganized Debtors are to pay all U.S. Trustee Fees then due and payable, and thereafter are to pay such fees as assessed for each open Chapter 11 Case for each quarter and file quarterly reports in a form reasonably acceptable to the U.S. Trustee. Each Debtor remains obligated to pay U.S. Trustee Fees and file quarterly reports until the earliest of its case being closed, dismissed or converted to chapter 7.
  • The U.S. Trustee is not required to file an application for payment of an Administrative Expense Claim for statutory fees incurred during the pendency of the Chapter 11 Cases.
• As of the Effective Date, all of the Chapter 11 Cases other than the Remaining Case — the Chapter 11 Case of Braskem Idesa Ethane — shall be closed, with the Confirmation Order serving as the final decree for such cases, without the need for further motion, notice or order.
  • After Professionals’ final applications have been Filed, heard (if applicable) and resolved pursuant to Section 2.2 of the Plan, the Reorganized Debtor in the Remaining Case may submit an order to the Bankruptcy Court under certification of counsel closing the Remaining Case.
  • Matters concerning Claims may be heard and adjudicated in any Debtor’s or Reorganized Debtor’s Chapter 11 Case that remains open, regardless of whether the applicable Claim is against a Debtor or Reorganized Debtor in a closed case.
• Notwithstanding any prior order entered in the Chapter 11 Cases to the contrary, including any joint administration order, on or after the Confirmation Date the Debtors or Reorganized Debtors are authorized, without further order of the Bankruptcy Court, to revise the consolidated case caption to reflect changes to any of their legal names by filing a notice of such change with the Bankruptcy Court.
  • Upon such filing, the Debtors or Reorganized Debtors and all other parties are directed to use the updated case caption in all further pleadings and other papers filed in the Chapter 11 Cases and any adversary proceeding commenced thereunder.
• The Claims and Solicitation Agent is authorized to destroy all paper or hardcopy records related to the Chapter 11 Cases two years after the Effective Date has occurred.
• On and after the Effective Date, the Reorganized Debtors may maintain documents in accordance with their standard document retention policies, as may be altered, amended, modified or supplemented by the Reorganized Debtors.

Retention of Jurisdiction

• Pursuant to sections 105(c) and 1142 of the Bankruptcy Code, and notwithstanding entry of the Confirmation Order and the occurrence of the Effective Date, the Bankruptcy Court will retain jurisdiction on and after the Effective Date over all matters arising in, arising under or related to the Chapter 11 Cases and the Plan to the fullest extent permitted by law, including jurisdiction to:
  • Allow, disallow, determine, liquidate, classify, estimate or establish the priority or secured or unsecured status of any Claim or Equity Interest, including the resolution of any request for payment of any Administrative Expense Claim and of any objections to the allowance or priority of Claims or Equity Interests.
  • Hear and determine whether and in what amount a Claim or Equity Interest is Allowed, including all requests for payment of Claims and Equity Interests entitled to priority pursuant to section 507 of the Bankruptcy Code.
  • Resolve any matters related to the assumption, assumption and assignment or rejection of any executory contract or unexpired lease to which a Debtor is a party or with respect to which the Debtors or Reorganized Debtors may be liable, and to hear, determine and, if necessary, liquidate any Claims arising therefrom.
  • Ensure that distributions to Holders of Allowed Claims are accomplished pursuant to the provisions of the Plan.
  • Adjudicate, decide or resolve any motions, adversary proceedings, contested or litigated matters and any other matters, and grant or deny any applications involving the Debtors that may be pending on the Effective Date.
  • Enter and implement such orders as may be necessary or appropriate to implement or consummate the provisions of the Plan and all contracts, instruments, releases and other agreements or documents created in connection with the Plan, the Disclosure Statement or the Confirmation Order.
  • Enter and enforce any order for the sale or transfer of property pursuant to sections 363, 1123 or 1146(a) of the Bankruptcy Code.
  • Resolve any cases, controversies, suits or disputes that may arise in connection with the consummation, interpretation or enforcement of the Plan, including any other contract, instrument, release (including the existence, nature, scope or enforcement of such release) or other agreement or document executed or created pursuant to the Plan, or any Person’s rights arising from or obligations incurred in connection with the Plan or such documents.
  • Modify the Plan before or after the Effective Date pursuant to section 1127 of the Bankruptcy Code, or modify the Confirmation Order or any contract, instrument, release or other agreement or document created in connection with the Plan, the Disclosure Statement or the Confirmation Order, or remedy any defect or omission or reconcile any inconsistency in any Bankruptcy Court order, the Plan, the Confirmation Order or any such document, as may be necessary or appropriate to consummate the Plan.
  • Hear and determine all applications for compensation and reimbursement of expenses of Professionals under sections 327, 330, 331, 363, 503(b), 1103 and 1129(a)(9) of the Bankruptcy Code; provided that, from and after the Confirmation Date, payment of fees and expenses of the Debtors and the Reorganized Debtors, including counsel fees, shall be made in the ordinary course of business and shall not be subject to Bankruptcy Court approval.
  • Issue injunctions, enter and implement other orders or take such other actions as may be necessary or appropriate to restrain interference by any Person with consummation, implementation or enforcement of the Plan or the Confirmation Order.
  • Hear and determine Causes of Action by or on behalf of the Debtors or the Reorganized Debtors.
  • Hear and determine matters concerning state, local and federal taxes in accordance with sections 346, 505 and 1146 of the Bankruptcy Code.
  • Hear and implement such orders as are necessary or appropriate if the Confirmation Order is for any reason or in any respect modified, stayed, reversed, revoked or vacated, or distributions pursuant to the Plan are enjoined or stayed.
  • Resolve any disputes concerning whether a Person had sufficient notice of the Chapter 11 Cases, the Disclosure Statement, any solicitation conducted in connection with the Chapter 11 Cases, any bar date established in the Chapter 11 Cases, or any deadline for responding or objecting to the amount of a cure, in each case for the purpose of determining whether a Claim or Equity Interest is discharged or for any other purposes.
  • Recover all assets of the Debtors and property of the Estates, wherever located.
  • Determine any other matters that may arise in connection with or related to the Plan, the Plan Supplement, the Confirmation Order or any contract, instrument, release (including the releases in favor of the Released Parties) or other agreement or document created in connection therewith.
  • Enforce all orders, judgments, injunctions, releases, exculpations, indemnifications and rulings entered in, or entered in connection with, the Chapter 11 Cases, including enforcing the releases, injunctions and exculpations set forth in the Plan or the DIP Orders.
  • Hear and determine such other matters as may be provided in the Confirmation Order or as may be authorized under the Bankruptcy Code, and enter orders closing the Chapter 11 Cases.
• The Bankruptcy Court shall not retain:
  • Jurisdiction over disputes concerning documents contained as Exhibits in the Plan Supplement or any Restructuring Documents that have a jurisdictional, forum selection or dispute resolution clause referring disputes to, or permitting a Person to bring disputes to, a different court; any such disputes shall be governed in accordance with the provisions of those documents.
  • Exclusive jurisdiction over the Reorganized Debtors’ pursuit of any Retained Cause of Action, if applicable, in which case the Reorganized Debtors shall be entitled to pursue such Retained Cause of Action in a court of competent jurisdiction.

Notice Parties

• Any pleading, notice or other document required by the Plan to be served on or delivered to the Debtors or the Reorganized Debtors shall be served on:
  • The Debtors or the Reorganized Debtors: Braskem Idesa, S.A.P.I., Blvd. Manuel Avila Camacho 36, Piso 24, Col. Lomas de Chapultepec, CDMX, CP 11000, Attn: Gustavo Gindler Sergi and Alonso Gómez del Campo Estrada.
  • Attorneys to the Debtors: Cleary Gottlieb Steen & Hamilton LLP, One Liberty Plaza, New York, NY 10006, Attn: Richard J. Cooper, Joshua Brody, Thomas S. Kessler, Jack Massey and Michael Weinberg; and Hunton Andrews Kurth LLP, 600 Travis Street, Suite 4200, Houston, TX 77002, Attn: Timothy A. (“Tad”) Davidson II, Ashley L. Harper and Kaleb Bailey.
  • Braskem: Jones Day, 51 Louisiana Avenue NW, Washington, D.C. 20001, Attn: Dan T. Moss.
  • Inbursa: Herbert Smith Freehills Kramer (US) LLP, 1177 6th Avenue, New York, NY 10036, Attn: Rachael Ringer, Kyle Ortiz, Elan Daniels, Andrew Citron and Emily Mandell.
  • Ad Hoc Group: Davis Polk & Wardwell LLP, 450 Lexington Avenue, New York, NY 10017, Attn: Tim Graulich, David Schiff and Aryeh Ethan Falk.