Oi’s Brazilian reorganization proceeding recognized by Lisbon court

By Caroline Salls

Pittsburgh, March 7 – Oi SA said the Commercial Court of Lisbon entered an order recognizing Oi and Telemar Norte Leste SA’s judicial reorganization.

According to a 6-K filed Tuesday with the Securities and Exchange Commission, the request for judicial reorganization submitted in Brazil was granted by the 7th Corporate Court of the District of the Capital of the State of Rio de Janeiro on June 29, 2016.

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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