Brazilian court orders asset freeze on JBS

Reuters reported last Wednesday that a Brazilian court has ordered a $230 million asset freeze on JBS and its owners. The two Batista brothers and owners of the company have been arrested and are being held on corruption and insider trading charges. This resulted in seven JBS plants in the Brazilian state of Mato Grosso do Sul being shut down. Reuters reported that JBS sent it an emailed statement saying that the plants will stay closed until the ongoing matter is resolved, but that it is working to restore operations. An estimated 15,000 jobs are directly impacted by the closures.