Eike Batista in better spirits

Eike Batista in better spirits

It appears that the troubles for the desperate Eike Batista (the former richest man in the southern hemisphere) are far from over as his OGX Petroleo files for bankruptcy, according to a recent news article in the Wall Street Journal.  Rumours of a potential $200 million bailout and restructuring of massive debt obligations have recently helped OGX share price surge.  However, now it appears that was all for not as Batista was unable to renegotiate nearly $1 billion in debt obligations.

OGX is one of many of Batista’s companies (all of which end in “X” because he claimed they all multiplied his wealth) which have encountered major liquidity concerns as the commodities cycle waned over the past year.

Batista is said to have lost a staggering $33 billion last year alone.

Read: OGX Petroleo Files for Bankruptcy as Eike Batista’s Empire Circles the Drain

Related: How Brazil’s Richest Man Lost $34.5 Billion (Bloomberg Businessweek)