Brazil Telecom Firm Oi Said to Be Preparing a Chapter 11 Filing

Distressed Brazilian telecom operator Oi SA is preparing a Chapter 11 bankruptcy filing in a US court, according to people familiar with the matter.

The company is working with law firm White & Case LLP, the people said, asking not to be named discussing private details. The company will probably file as soon as its ongoing Chapter 15 process is canceled, one of the people said.

White & Case and Oi didn’t reply to messages seeking comment.

Oi filed for bankruptcy protection in a Rio de Janeiro court in early 2023, shortlyafter exiting one of Brazil’s largest-ever debt ...