Overview

• The 7th Business Court in Rio de Janeiro removed Oi’s directors and board, extending the measure to subsidiaries Serede and Tahto.
• Collections on extraconcursal debts were suspended for 30 days as the court partially anticipated bankruptcy effects.
• Judicial administrator Bruno Rezende was appointed to oversee the transition of public services, with Tatiana Binato managing subsidiaries, prioritizing continuity of critical telecom networks including links to air-traffic control.
• The order froze Oi’s NIO shareholdings and funds tied to arbitration with V. Tal and Anatel, and barred transactions with Íntegra linked to CEO Marcelo Millet.
• The ruling cited roughly R$1.5 billion in off-plan debts versus R$21 million in cash and set a 30-day window to determine liquidation or continuation under court protection.