Oi Says Court Determines Liabilities Suspension, Mgmt Removal

Court of Rio de Janeiro determined, among other measures, the suspension of the post-petition claims, the removal of the members of the Board of Officers and Board of Directors and the appointment of new managers, Oi said in filing.

• Bruno Rezende and Tatiana Binato were appointed to carry out the transition process of public services provided by Oi and underlying companies, acting as managers responsible for maintaining the companies
• Suspension of enforceability applies to both past due and future, preventing the adoption of collection and/or enforcement measures for a period of 30 days
• Oi said in the filing that “it ...