UPDATE 1-Sete Brasil to seek up to $5 bln funding in reorganization plan

[ahlam1399]

UPDATE 1-Sete Brasil to seek up to $5 bln funding in reorganization plan

UPDATE 1-Sete Brasil to seek up to $5 bln funding in reorganization plan
SAO PAULO, Aug 12 (Reuters) - Sete Brasil Participaç~oes SApresented a draft reorganization plan on Friday that includesseeking up to $5 billion in funding and downsizing business,three months after the Brazilian rig leaser sought courtprotection against 18 billion reais ($5.7 billion) in loomingdebt payments.

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