V.tal Appeals Oi Bankruptcy Orders That Put Court‑Approved Asset Sales at Risk

Overview

• Judge Simone Gastesi Chevrand of Rio’s 7th Business Court converted Oi’s second judicial recovery into bankruptcy and ordered the proceeds of asset disposals to remain unavailable.
• V.tal filed an appeal arguing the ruling contradicts prior approvals and decisions, focusing on safeguarding the legality of asset transfers rather than overturning the bankruptcy itself.
• The court blocked R$170 million payable to V.tal, which the company says are extraconcursal credits tied to essential services provided to Oi.
• Bradesco and Itaú Unibanco also lodged appeals seeking to reverse the conversion of Oi’s restructuring into bankruptcy.
• The challenged measures cite assets such as the copper network, Oi Fibra/Nio, Oi TV, properties, and a TCU arbitration, while V.tal notes that the InfraCo and ClientCo deals had creditor, administrator, and prosecutor sign-offs.