Court delays Oi general creditors' meeting
The corporate court in Rio de Janeiro overseeing the bankruptcy case of Brazilian telco Oi has granted the company's request to postpone a general meeting of creditors.
The first call for the meeting was scheduled for October 9, but the company requested that it be postponed for two weeks, pushing the first call back to October 23 and the second to November 27.
The reason for the postponement, according to the company, was "due to negotiating factors for the approval of the Judicial Reorganization Plan and procedures related to the AGC [general creditor's meeting], which may result in adjustments in the AGC voting system."
A motion was recently filed by creditors and partially served by the courts, changing the structure of the creditors' assembly and determining a separate vote by the company to decide on a single plan.
This, said the troubled telco, affected the dynamics of voting, which implicates complex system adjustments for counting the votes.
Oi said it remains focused on keeping its operation healthy and that it has been "tirelessly endeavoring to advance the negotiations of a judicial recovery plan that is balanced for all those involved in this process and at the same time guarantees the sustainability and duration of the company, ensuring a proper cash flow for the company."
Oi has accumulated debts of over 65bn reais (US$2bn), including fines applied by telecom watchdog Anatel.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: ICT (Brazil)
Scala Data Centers reveals plan to invest US$2bn in LatAm by 2025
The investment budget approved was shared exclusively with BNamericas. This year, the company plans to activate its first datacenter in Colombia an...
Brazil's Copel inks 5-year contract with Google Cloud
The data migration project is set to start this year and impact generation, transmission and distribution operations, including smart meters and cu...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: ICT
Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: SQROQT01 Data Center
- Current stage:
- Updated:
4 months ago
- Project: SMEXSJ04 Data Center
- Current stage:
- Updated:
4 months ago
- Project: SMEXSJ03 Data Center
- Current stage:
- Updated:
4 months ago
- Project: Carnival Submarine Network-1 (CSN-1)
- Current stage:
- Updated:
4 months ago
- Project: Once Datacenter (ST01)
- Current stage:
- Updated:
5 months ago
- Project: SMEXSJ01 Data Center
- Current stage:
- Updated:
5 months ago
- Project: Sumaré Data Center Expansion 5
- Current stage:
- Updated:
5 months ago
- Project: Sumaré Data Center Expansion 4
- Current stage:
- Updated:
5 months ago
- Project: Sumaré Data Center Expansion 3
- Current stage:
- Updated:
5 months ago
- Project: CloudHQ Paulínia Data Center (GRU Technological Campus) - Second Stage
- Current stage:
- Updated:
5 months ago
Other companies in: ICT (Brazil)
Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: BoostLAB
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Centro de Estudos e Sistemas Avançados do Recife  (CESAR)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Datum TI  (Datum)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Cloud HQ Brasil Desenvolvimento LTD
- Company: Consorcio Telefónica Brasil S.A.-TIM S.A.-Claro Telecom Participações S.A.-Aquamar-ClickIP/ICOM Telecom-SEA Telecom Brasil-BRfibra Telecomunicações...  (Consorcio Telefónica Brasil-TIM-Claro Telecom Participações-Aquamar-ClickIP/ICOM Telecom-SEA Telecom Brasil-BRfibra Telecomunicações-Alloha Fibra-Ozônio Telecom-PPLINK-VOCE Telecom-V.tal Rede Neutra de Telecomunicações)
-
Consorcio Telefónica Brasil S.A.-TIM S.A.-Claro Telecom Participações S.A.-Aquamar-ClickIP/ICOM Telecom-SEA Telecom Brasil-BRfibra Telecomunicações-Alloha Fibra-Ozônio Telecom I...
- Company: Sitecnet Informatica Ltda.  (Tely Telecomunicações)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Sistema Nova Ambiental