Court Suspends Oi's Obligations, Removes Management Amid Restructuring
· Issued by Oi S.A.
Oi SA - Em Recuperacao Judicial BMFBOVESPA:OIBR3 late on Tuesday:
IN THE FILES OF OI'S BANKRUPTCY PROCEDURES, A RIO DE JANEIRO COURT SUSPENDED THE ENFORCEABILITY OF EXTRACONCURSAL OBLIGATIONS FOR 30 DAYS - FILING
COURT REMOVED MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT OF OI AND CERTAIN SUBSIDIARIES
COURT APPOINTED BRUNO REZENDE AND TATIANA BINATO TO OVERSEE THE TRANSITION OF PUBLIC SERVICES AND PARTIALLY INTERVENE IN THE MANAGEMENT
OI AFFIRMS ITS COMMITMENT TO MAINTAINING CONTRACTED SERVICES AND OPERATIONAL CONTINUITY
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Further company coverage:
Oi S.A. on 6ix
Earlier from Oi
- Brazilian court orders the removal of Oi's management and board, reports O Globo
- Oi: Revenue fell 17.7% as digital and tech services became core, with efficiency gains from restructuring
- Oi: Net income swung positive on asset sales, despite revenue declines and ongoing cash burn
- Oi: Debt restructured, B2B digital focus, and cost cuts drive transformation amid legacy decline
- Oi: Revenue fell 14% as legacy services declined, but fiber and cost controls supported profitability
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