Shipbuilder Ecovix has added itself to a list of Brazilian companies looking to put their debt troubles behind them.

On Wednesday, Ecovix obtained creditor consent to cut its BRL7bn ($1.81bn) debt load in half and free up funds to restart operations, despite opposition from Banco do Brasil, Caixa Econômica Federal and Petrobras, which all voted against the plan.

“Bradesco has a very relevant position as do China’s Cosco and Banrisul, and the majority of suppliers also came on board,” said Alexandre Faro from the law firm Freire, Assis, Sakamoto e Violante Advogados. “We agreed to a two-year plan, with new debentures and the sale of several leftover assets on the shipbuilder premises.”

FASV Advogados was legal advisor to Ecovix along with Souto Correa Advogados.

Ecovix’s agreement comes as several companies in Brazil take steps to settle debt restructurings or reach settlements in the aftermath of the Lava Jato corruption probe. In late 2017, the telecommunications company Oi reached an agreement to resolve Latin America’s largest corporate debt default by committing to a $19bn restructuring plan.

Ecovix looked like it was going to reach a restructuring agreement earlier this year, but a court order forced the company to postpone a March shareholder meeting until the following month. The shipbuilder, based in Rio Grande do Sul, has $1bn in assets and had 10,000 employees before filing for bankruptcy protection last year.

Ecovix became involved in the Lava Jato investigation after it was tasked with building an offshore platform for Petrobras. But Faro said the restructuring plan protects Ecovix from any future fines from the Lava Jato case. It also allows the company to use some of the money from asset sales to restart operations, which were put on hold during the talks with creditors.

As Ecovix reopens for business, it plans to finish building the offshore platform P-71, which is about 30% complete but does not have a buyer.

Rio Grande do Sul Gov. José Sartori celebrated the agreement, sounding hopeful it could bring new jobs in his state’s shipbuilding industry, which remains centered around Ecovix.

Ecovix is a unit of the construction group Engevix, which includes Engevix Engenharia, Braspower, São Roque Renováveis and Infravix, among others. Jackson Empreendimentos is the holding company.