Justice Decisions End Recovery Oi Judiciary (OIBR3)

Posted at 8:29 pm

According to the press, the Seventh Business Court of the Court of Justice of Rio de Janeiro issued a decision to terminate the judicial recovery of Oi (OIBR3, OIBR4) this Wednesday 14.

The company filed for bankruptcy protection in 2016 with debts of R$65 billion.

According to information from the newspaper O Globo and Valor Econômico, the publication of the decision, which must be communicated to Anatel and the Public Prosecution Service, must take place within 20 days.

According to O Globo newspaper, the accountability of the trustee administration has been decided within 30 days.

Judge Fernando Viana recognized that the company had complied with all the obligations it had undertaken in the process.

Oi itself has not yet officially appeared on the Brazilian Securities and Exchange Commission (CVM) website about the information.

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