Oi: Court nominates Arnoldo Wald to assume judicial administrator role

By Caroline Salls

Pittsburgh, April 11 – Oi SA said the 7th Corporate Court of the City and State of Rio de Janeiro nominated law firm Arnoldo Wald to fully assume the role of judicial administrator.

According to a 6-K filed Tuesday with the Securities and Exchange Commission, Wald would be the judicial administrator for Oi, Telemar Norte Leste SA, Oi Movel SA, Copart 4 Participacoes SA, Copart 5 Participacoes SA, Portugal Telecom International Finance BV and Oi Brasil Holdings Cooperatief UA.

The judicial administrator is also authorized to hire individuals or entities to assist in the financial and accounting aspects of the role, the 6-K said.

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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