Troubled Brazilian operator Oi has been declared bankrupt by a Rio de Janeiro court. Failure to comply with a court-approved restructuring plan, ratified in 2024, and the accumulation of debt not subject to bankruptcy rules were two of the main reasons cited by the judge involved for declaring the company bankrupt. She noted that noncompliance began around March this year.
Local news resource Valor International reports that, in her ruling, Judge Simone Gastesi Chevrand, of the 7th Business Court of Rio de Janeiro – where the company’s restructuring case is being handled – ordered the suspension of all lawsuits and enforcement actions against the carrier, as well as a ban on any sale of the bankrupt company’s…