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General

Oi bondholders oppose restructuring plan

Friday 9 September 2016 | 09:32 CET | News
Oi's bondholders have come out against the reorganization plan filed in court by the company. The steering committee of bondholders said in a statement that the plan "will not achieve the support of its various creditors and reflects a failure to understand the severity of Oi's current situation". They accused Oi of designing a plan based on the interests of its "most junior stakeholders", who are not even entitled to vote on the plan, and to protect the company and its management from lawsuits over fiduciary responsibilities. In particular the controlling shareholders and new investors in Oi

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Categories: General
Companies: Oi
Countries: Brazil
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