Brazil court tells Oi to respond to Moelis proposal

Tuesday 21 February 2017 | 13:34 CET | News
Brazilian operator Oi will have to present a formal position on the proposed restructuring plan by holders of securities represented by Moelis & Company, according to a Rio de Janeiro court ruling obtained by Bloomberg. The proposal, presented 16 December by the group holding the largest share of the Brazilian telecom operator's bonds, suggests ways for Oi to handle about BRL 19 billion in debt and end judicial recovery. The judge accepted the request from GoldenTree Asset Management, a fund of the steering committee of the group of creditors advised by Moelis. Oi has five days to comply with

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Categories: General
Companies: Oi
Countries: Brazil
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