Oi Requests End to Chapter 15 Process in US Court

Oi, which continues in judicial recovery in Brazil, requested the end to its Chapter 15 process in the US justice system after various restructuring measures, the company said in a filing.

• Company seeks the end of the US recognition of Oi’s Chapter 15 as its main foreign judicial recovery process as well as the conclusion of Chapter 15
  • Requests made in United States Bankruptcy Court – Southern District of New York
• Oi’s decision is the result of a “strategic evaluation” of the appropriateness of Chapter 15 given the current stage of the company’s judicial recovery and the development of measures ...