Rio court sets Oi restructuring deadline

Rio court sets Oi restructuring deadline

Economy & Policy Corporate & Sovereign Strategy Debt Telecoms Structured Finance Loans Equity Brazil Latin America

A judge in Rio de Janeiro set a 12-month deadline for Brazilian telecommunications company Oi to finish its restructuring process, although it said it could grant more time if needed, Oi said in a securities filing on Monday. In the ruling, Judge Fernando Viana from the 7th Corporate Court of Rio de Janeiro approved proposed amendments to the restructuring plan but dismissed an allegation of unequal treatment of creditors, Oi said. Oi's creditors had approved changes to the plan on September 8.

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