Oi: Court denies conversion of Dutch vehicles’ suspension proceedings

By Caroline Salls

Pittsburgh, Feb. 3 – Oi SA said the District Court of Amsterdam denied the requests for conversion of the suspension of payments proceedings into Dutch bankruptcy proceedings for its Oi Brasil Holdings Coöperatief UA and Portugal Telecom International Finance BV Dutch financial vehicles.

According to a 6-K filed Thursday with the Securities and Exchange Commission, interactions with creditors are progressing.

Oi said it will continue to meet regularly with its creditors, other stakeholders and potential investors to gather impressions, comments and suggestions that contribute to the company’s operational viability and sustainability.

Oi is a Rio de Janeiro-based telecommunications service provider. It filed for Chapter 15 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York on June 21, 2016 under case number 16-11791.

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