A group of bondholders that are Oi SA’s largest creditors demanded yesterday that the company’s top executives meet them as soon as possible to renegotiate a debt plan, Reuters reported. In a letter viewed by Reuters that was addressed to top Oi executives and board members, Oi’s two biggest bondholder groups demanded the carrier’s executives meet in New York to “negotiate in good faith and on an expedited basis the terms of an acceptable plan(s) of reorganization.” The letter was sent by the main advisors of the International Bondholders Committee the Ad Hoc Group of Oi Bondholders. The Oi restructuring, which started in June 2016 and remains Latin America’s largest bankruptcy protection case to date, has been marked by a series of disputes between creditors and shareholders. Read more.
Insolvency experts will gather at ABI’s 13th International Insolvency Symposium in Dublin on Oct. 19-20 to discuss top international restructuring issues. Click here for more information and to register.
