Overview

• Judge Simone Gastesi Chevrand removed the board and management of Oi and its subsidiaries Serede and Tahto.
• Judicial administrators Bruno Rezende and Tatiana Binato were appointed to run a transition, with Rezende overseeing service continuity and Binato managing the subsidiaries.
• Collections on extraconcursal debts were suspended for 30 days, and confidentiality over talks between the new management and creditors was lifted during this period.
• The court barred dealings with the consultancy Íntegra, linked to CEO Marcelo Milliet, and froze Oi’s Nio shareholding along with funds tied to arbitration with V. Tal and Anatel.
• Creditors and the court-appointed managers have 30 days to choose between full liquidation or resuming recovery, with reporting citing about R$1.5 billion in extraconcursal debts and roughly R$21 million in available cash.