Brazil Telecom Firm Oi to Liquidate After Decade of Struggles

Troubled Brazilian telecom operator Oi SA will be liquidated following two failed court restructuring processes that ranked among the largest in Brazil’s history.

The company was declared bankrupt by a Rio de Janeiro-court on Nov. 10, according to court documents seen by Bloomberg News. The judge ruled that Oi, which filed for bankruptcy protection in 2023 just months after exiting a restructuring, failed to fulfill its recovery plan.

“The current state of insolvency of the debtors is already a public and well-known fact, recognized by creditors, the market, and service providers, such that the judicial liquidation of the company ...