© Reuters.
SAO PAULO (Reuters) – Oi (BVMF:) has asked the Rio de Janeiro court for an injunction to protect it from creditors with which it owes around 29 billion reais in debt, including banks and bondholders, in a step that could come before a new bankruptcy process for the company, according to documents seen by Reuters on Wednesday.
The measure comes after Oi exited a judicial recovery process last December.
The company argues that it has tried to reach an agreement with creditors to refinance its debt, but so far has been unsuccessful. Oi said it cannot pay 600 million reais owed to bondholders on Feb. 5, which would trigger an acceleration of nearly all of the company’s financial debts.
Oi did not immediately respond to a request for comment sent outside of business hours.
Oi’s request was made to the 7th Corporate Court of Rio de Janeiro.
(Por Tatiana Bautzer)