Creditors of Brazil's Oi SA filed a motion this week in U.S. bankruptcy court to pressure the telephone operator to consider a proposal which could give lenders control of the restructured company, Reuters reported yesterday. The creditors believe that a U.S. filing made on Monday in the Southern District of New York will allow them the right to reject the company's reorganization plan in the United States if it is confirmed in Brazil without their input, the source said. Oi said it has no knowledge of the creditors' motion. Although Oi has no sizeable assets in the U.S., it has strategic commercial agreements with large U.S. telecom carriers related to interconnection fees.
