UPDATE 2-Oi creditors meet to vote on Latin America's largest-ever restructuring [Reuters]
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Source: Reuters
UPDATE 2-Oi creditors meet to vote on Latin America's largest-ever restructuring | Reuters Reuters Staff 3 Min Read (Adds new details on meeting) By Rodrigo Viga Gaier RIO DE JANEIRO, Dec 19 (Reuters) - Creditors of Oi SA met in Rio de Janeiro on Tuesday to vote on a plan to restructure $20 billion of debts owed by the Brazilian telecoms operator in Latin America’s largest-ever bankruptcy case despite legal action by a key shareholder to stop the ballot. By midday, enough creditors had arrived at the RioCentro convention center for proceedings to begin. The venue for the end game to one of Brazil’s most contentious corporate battles this year hosted boxing matches at the 2016 Olympic Games. Oi, which spent about 2 million reais ($600,000) on the meeting, had readied the facility twice before, but was forced to break down the temporary infrastructure when court battles and creditor fights delayed previous votes. This time Oi’s management appeared likely to win enough support from credi
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