Oi says Dutch unit free to lend funds to parent company

Tuesday 19 April 2016 | 13:17 CET | News
Brazilian operator Oi is arguing that its Dutch unit is free to use borrowed funds to lend to the parent company, a person with knowledge of the matter told Bloomberg. In response to a creditor lawsuit, Oi said that individual lenders don't have the right to question the use of the money by the Dutch unit, Oi Brasil Holdings Cooperatief, arguing only the trustee of the notes is eligible to do so. A fund affiliated with Aurelius Capital Management last month asked a Dutch judge to prevent Oi from borrowing any more money from the subsidiary. The Aurelius Fund, Capricorn Capital, argued that

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Categories: General
Companies: Oi
Countries: Brazil
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