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How Latin America Can Punish Corruption Without Killing Companies

By Roberto Simon, Emilie Sweigart

The Odebrecht example shows why the region to penalize firms more efficiently.

Five years into Lava Jato, Odebrecht continues to break records. In recent months, the Brazilian construction conglomerate filed – in Brazil and the U.S. – for the largest-ever bankruptcy in Latin America, trying to restructure over $25 billion of debt and avoid asset seizures. 

Given the $788 million trail of corruption and political mayhem it has left across 12 countries, some observers wouldn’t mind watching the company burn to the ground. But is the total collapse of Odebrecht ultimately good for the fight against corruption? 

Unless one believes that the entire company...

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