Oi S.a.BMFBOVESPA: OIBR3

Court Suspends Oi's Obligations, Removes Management Amid Restructuring

· Issued by 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 - FILING

  • COURT REMOVED MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT OF OI AND CERTAIN SUBSIDIARIES

  • COURT 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

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