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General

Oi subsidiary in Netherlands faces debt holder suit

Wednesday 29 June 2016 | 14:50 CET | News
Brazilian operator Oi has announced that Syzygy Capital Management filed an insolvency proceeding in the Netherlands against Oi Brasil Holdings Cooperatif, one of Oi's financial vehicles in the Netherlands, based on the default by Oi Brasil Holdings of bonds that it had issued. According to Oi, this action by a minority holder was not unexpected, and the operator is fully prepared to take all available measures, including in the Netherlands, to protect against such actions. The company does not expect any impact on the judicial reorganization process in Brazil.

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Categories: General
Companies: Oi
Countries: Brazil
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