Oi: Court ‘stops the effects’ of resolutions from shareholder meeting

By Caroline Salls

Pittsburgh, Feb. 9 – Oi SA announced on Thursday that the 7th Corporate Court of the Judicial District of the Capital of Rio de Janeiro issued a judgment approving the company’s request “to stop the effects of all resolutions taken at the purported extraordinary general shareholders meeting held between a group of shareholders of the company, on Feb. 7.”

According to a company news release, the court also ordered a subpoena of the Company Registry of the State of Rio de Janeiro and of the Brazilian Securities and Exchange Commission so that they refrain from filling the minutes of the meeting, or if they have already done so, suspend those filings until further judicial order.

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

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