SAO PAULO Nov 22 A group of Oi SA
bondholders led by Moelis & Co has petitioned a Brazilian
court to force the debt-laden Brazilian phone carrier to provide
access to information needed to move ahead with an in-court
reorganization, the largest in the country's history.
In a statement on Tuesday, the group said the petition
resulted from Oi's reluctance to renegotiate 41.2 billion reais
($12 billion) in debt. The petition would force Oi to answer a
questionnaire put forward by the creditors, the statement said.
The recovery plan that Oi presented on Sept. 5 is designed
to protect the interests of the carrier's main shareholders at
the expense of creditors, Moelis and law advisory firms Cleary
Gottlieb Steen and Hamilton LLP and Pinheiro Neto Advogados said
in the statement.
Oi's press office did not immediately comment on the
The Moelis-led group is fighting back a week after some
former members joined another bondholder group to negotiate
collectively with the carrier. The rifts among creditors and
shareholders of Oi have delayed the resolution of the company's
bankruptcy protection case, fanning speculation of a potential
($1 = 3.3318 reais)
(Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn)