Brazil’s BRB Nixes Meeting to Vote on $1.7 Billion Capital Boost

Banco de Brasilia SA canceled an extraordinary shareholder meeting that was to feature a vote on a capital increase of as much as 8.9 billion reais ($1.7 billion) designed to cover a hole left by transactions with failed Banco Master SA.

The bank’s board nixed the gathering set for Wednesday because of legal issues raised by a court ruling, according to a filing from the company known as BRB late Tuesday.