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General

Oi to submit judicial recovery plan by September

Thursday 11 August 2016 | 13:00 CET | News
Brazilian group Oi is on track to present its judicial recovery plan for the company between the end of August and early September, said CEO Marco Schroeder, reports Reuters. He said the plan will need to satisfy all the various interested parties – suppliers, bondholders, banks, shareholders and new shareholders. It will include creditors converting part of Oi's debt into company shares, he said. Oi filed for protection from creditors in June and has been placed in judicial administration while it negotiates a plan to reduce its debt obligations.

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Categories: General
Companies: Oi
Countries: Brazil
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