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  • Reuters6 days ago

    Court to decide on bankruptcy of Brazil's Oi Dutch units in January

    Brazilian telephone company Oi SA, which is under creditor protection, said court administrators had filed a petition in an Amsterdam court to convert the suspension of payment status of two Oi subsidiaries into bankruptcy. Earlier this week, Oi said that Dutch judicial authorities could enforce bankruptcy proceedings on the Netherlands-based units, which issued most of its bond debt. Oi has said it hopes any potential Dutch bankruptcy proceedings do not have a significant impact on the process in Brazil, where in June it filed for creditor protection to restructure about 65.4 billion real ($18.3 billion) in debt.

  • Reuters9 days ago

    Brazil's Oi says Dutch units may enter bankruptcy proceedings

    Brazilian phone carrier Oi SA said on Tuesday that Dutch judicial authorities could compel bankruptcy proceedings for its two Netherlands-based units, which hold most of the company's bond debt. Oi said in a securities filing that it hoped that a bankruptcy process in the Netherlands, should it take place, would have no meaningful bearing on its own bankruptcy court procedures in Brazil. Oi, Brazil's No. 4 wireless carrier, last June sought Brazilian court protection for 65.4 billion reais ($19 billion) in obligations, of which about 34 billion ($10 billion) is in bonds.

  • Reuters9 days ago

    Brazil's Oi says units could face bankruptcy process in Netherlands

    Brazil's Oi SA said on Tuesday a court process protecting two of its subsidiaries in the Netherlands from creditors could be converted into a bankruptcy process in that country, potentially complicating Oi's own court supervised reorganisation in Brazil. The process in the Netherlands relates to Oi's two investment vehicles based in that country - Oi Brasil Holdings Coöperatief UA and Portugal Telecom International Finance B.V.