Court Suspends Oi's Obligations, Removes Management Amid Restructuring

About this update from Oi S.a.

Oi SA - Em Recuperacao Judicial BMFBOVESPA:OIBR3 late on Tuesday:IN THE FILES OF OI'S BANKRUPTCY PROCEDURES, A RIO DE JANEIRO COURT SUSPENDED THE ENFORCEABILITY OF EXTRACONCURSAL OBLIGATIONS FOR 30 DAYS - FILINGCOURT REMOVED MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT OF OI AND CERTAIN SUBSIDIARIESCOURT APPOINTED BRUNO REZENDE AND TATIANA BINATO TO OVERSEE THE TRANSITION OF PUBLIC SERVICES AND PARTIALLY INTERVENE IN THE MANAGEMENT OI AFFIRMS ITS COMMITMENT TO MAINTAINING CONTRACTED SERVICES AND OPERATIONAL CONTINUITY Source text for Workspace: Further company coverage:

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