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General

Pharol files objection in US court to Oi recovery plan

Tuesday 15 May 2018 | 16:57 CET | News
The largest shareholder of Brazilian operator Oi, Pharol, is trying to prevent the approval of Oi's judicial recovery plan, approved by creditors last year, reports Valor Economico. Through the subsidiary Brastel, the shareholder filed an objection to the plan in a US court, under the Chapter 15 procedure. In Pharol's view, there are issues of profound relevance related to Oi and its subsidiaries, and shareholders are still in dispute and arbitration, which would prevent the approval of the plan before the US court.

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Categories: General
Companies: Oi
Countries: Brazil
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