Sanjeev Gupta’s InfraBuild says it has reached a deal with former Macquarie deal maker Ben Brazil to stave off demands that it repay an $800 million bond that would almost certainly have led to the company’s collapse.

InfraBuild declined to provide details, except to confirm that Brazil’s FitzWalter Capital Partners had “voluntarily dismissed” its New York action, first revealed by The Australian Financial Review in February.