This is Oi’s second request for judicial recovery.| Photo: Daniel Castellano/archive/Gazeta do Povo

The telecommunications operator Oi informed, this Thursday (16), that the second judicial recovery process requested to Justice was accepted by the 7th Corporate Court of the Judicial District of Rio de Janeiro.

In a statement to the market, the company explains that several measures were determined, including the appointment of new judicial administrators and the suspension of actions or executions of creditors (see in full).

The request was accepted just over two weeks after it was filed in court and three months after the first judicial reorganization ended, in December 2022.

According to the company, the creditors accepted an agreement for the restructuring of long-term debts to maintain operations. “Considering its operational and commercial capacity, it will be successful in proposing and pre-approving a judicial reorganization plan that allows the pursuit of its long-term sustainability, in the best interest of all its stakeholders. stakeholders”, said Oi in the statement.

The company also stated that it will have to delay the presentation of the Standard Financial Statements (DFP) report by just over a month, moving from March 23 to April 26, to “ensure the disclosure of accurate, consistent and complete information for shareholders and the market”.

Oi’s court-supervised reorganization will be handled by the court administrators Wald Administração de Bankruptcy and Companies in Recovery Judicial Ltda. and K2 Consultoria Econômica, and the plan will need to be submitted within 60 days. According to the statement issued in the second recovery request, the updated debt was BRL 33 billion (see full text).