sortiwa
[ad_1]
The Superior Court of Justice, known as STJ, Brazil’s second-highest court, ruled that the debt was administrative and could not be given priority treatment.
Brazil’s biggest fixed-line telecommunications operator filed for bankruptcy protection in June 2016. Oi had about 65 billion reais of debt at the time.
Oi’s in-court reorganization, which remains Brazil’s largest bankruptcy protection case to date, has been marked by disputes between creditors and shareholders over the fate of Brazil’s No. 4 wireless carrier.
Oi confirmed last week that it has received a new 16.5 billion reais ($3.2 billion) bid for its mobile assets from its three telecom rivals, Tim Participacoes, Telefonica Brasil and America Movil’s Claro.
{{if trimcom}}{{:trimcom}}{{else}}{{:comment.substr(0,500)}}{{/if}}
{{if comment.length > 500}}
… Read More
{{/if}}
{{if comment.length > 500}}
{{/if}}
{{if id!=-1}}
{{/if}}
[ad_2]
Source link