Wires

UPDATE 1-Brazil banks object to Odebrecht restructuring plan -court documents

(Adds requests from other banks, context)

SAO PAULO, Oct 3 (Reuters) - State-controlled Brazilian banks Banco do Brasil SA and Caixa Economica Federal have requested the judge overseeing the bankruptcy protection proceeding of conglomerate Odebrecht SA to annul a debt restructuring plan presented to the court.

The other three lenders that are the conglomerate's creditors - Banrisul, Votorantim SA and Banco Santander Brasil SA - have objected to the plan and called for an immediate creditors assembly to discuss the issue.

According to court documents seen by Reuters, Caixa Economica has requested an immediate halt to the proceedings, alleging the plan is not compliant with Brazilian bankruptcy law.

Presenting similar arguments, Banco do Brasil requested that the judge order Odebrecht to present a new plan compliant with the law. If a new plan is not presented, Banco do Brasil requests an immediate creditors assembly.

Odebrecht filed for bankruptcy protection in June to restructure around 51 billion reais ($12.5 billion) in debt. The conglomerate has been selling assets and shrinking since it was targeted in Brazil's widest corruption probe. The conglomerate agreed to pay the world's largest leniency fine for corruption in 2016.

Last month, Odebrecht presented a restructuring plan lacking details on expected discounts to the debt value or a time frame for payment. The group wants creditors to receive equity instruments that would give them the rights to proceeds of asset sales in exchange for their debts.

In the request, Banco do Brasil complained about the lack of details such as which assets would be put up for sale and the time frame for recovery of the debt.

In a statement, Odebrecht said the banks' requests were "a natural step in the restructuring" and "formalities" that would not have consequences on the bankruptcy protection proceeding. ($1 = 4.0882 reais) (Reporting by Tatiana Bautzer; Editing by Chizu Nomiyama and Dan Grebler)