4 days ago
Brazil Court Eases Way for Troubled Oi to Seek Chapter 11
A Rio de Janeiro court suspended the enforceability of obligations set out in Oi SA's judicial recovery plan in Brazil, opening the way for the company to potentially seek a Chapter 11 filing in the US.
The court's decision prevents the imposition of any liens or claims on the troubled Brazilian telecom operator's assets from Aug. 13 to Aug. 31, the filing reads. It also required the company to present a transition plan to ensure the continuity of its public services.
