Business
Brazilian court orders the removal of Oi's management and board, reports O Globo
Brazilian court orders the removal of Oi's management and board, reports O Globo
About this update from Oi S.a.
A Rio de Janeiro court ordered the removal of telecom Oi's BMFBOVESPA:OIBR3 management and board of directors, and named Bruno Rezende as the company's new Chief Executive, newspaper O Globo reported on Tuesday.The court's decision brings forward some effects of a potential bankruptcy filing, given Oi's current indebtedness level, O Globo added, noting some financial obligations were suspended for 30 days.