Brazil

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Brazil's Oi To Begin Talks With Creditors Next Week, Says CEO

Oi SA, Brazil's largest fixed-line telephone carrier, plans to start meetings with bondholders and banks next week as part of the country's biggest-ever bankruptcy protection process, Chief Executive Marco Schroeder said on Thursday, Reuters re ...

Daily Headline - global.abi.org - 06/30/2016 - 20:55 - 0 comments

Brazil’s Unemployment Rises to 11.2% in March-May Period

Brazil’s unemployment rate increased between March and May, while wages continued to decline, as Latin America’s largest economy faces a deep and prolonged recession, the Financial Times reported. Joblessness rose to 11.2% from 10.2% in the previous ...

Daily Headline - global.abi.org - 06/29/2016 - 20:15 - 0 comments

The Emerging Markets Restructuring Journal Debut Issue

The Emerging Markets Restructuring Journal, founded by Cleary Gottlieb lawyers and featuring contributions from colleagues and advisors around the world, focuses on emerging markets restructuring law and practice. The publication aims to gather cutti ...

Resource Article - twallace@abiwor... - 06/28/2016 - 13:30 - 0 comments - 0 attachments

Bankruptcy Filing By Brazil's Oi Rattles Global Supply Chain

Brazil's biggest bankruptcy filing ever is sending shockwaves far beyond the recession-hit country's borders as operator Oi SA seeks creditor protection from global telecoms suppliers and export banks around the world. Oi is seeking protection ...

Daily Headline - global.abi.org - 06/23/2016 - 22:52 - 0 comments

Brazil to Bail Out State of Rio de Janeiro

Brazil’s federal government plans to bail out the state of Rio de Janeiro with 2.9 billion reais ($849 million) as it struggles with a fiscal crisis less than two months before the Olympic Games begin, The Wall Street Journal reported. According to a ...

Daily Headline - global.abi.org - 06/22/2016 - 19:57 - 0 comments

Brazil’s Oi Seeks Bankruptcy Protection in the U.S.

Brazil’s Oi SA, a telecommunications company that recently filed the largest bankruptcy in the country’s history, is seeking court protection in the U.S. to shield its assets from an affiliate of hedge fund Aurelius Capital Management LP, one of its hold ...

Daily Headline - global.abi.org - 06/22/2016 - 19:59 - 0 comments

Brazilian Banks Solid After Oi Bankruptcy Petition -Central Bank

The bankruptcy petition of mobile phone carrier Oi SA, the biggest ever in Brazil, poses no threat to the country's financial system, central bank director Aldo Mendes said on Tuesday, Reuters reported. The company's petition late on Monday to ...

Daily Headline - global.abi.org - 06/21/2016 - 20:21 - 0 comments

Telecom Oi Files Largest Bankruptcy Request in Brazil’s History

Brazil’s troubled telephone company Oi SA on Monday filed the largest bankruptcy protection request in the country’s history just days after debt restructuring talks with creditors collapsed, The Wall Street Journal reported. The filing of Oi and six ...

Daily Headline - global.abi.org - 06/20/2016 - 21:54 - 0 comments

Brazil Plans Budget Freeze For Up To 20 Years

An ambitious constitutional amendment to freeze budget spending would cut the uncertainty over public finances that is the root cause of Brazil’s deep recession, according to the country’s new finance minister, the Irish Times reported on a Financi ...

Daily Headline - global.abi.org - 06/19/2016 - 22:09 - 0 comments

Petrobras’s New CEO Says His ‘Obsession’ Will Be Slashing Debt

Pedro Parente is on a mission to restore financial health and public trust to Petrobras, the Brazilian state-controlled oil company that for the past two years has been at the center of the country’s biggest-ever corruption scandal, Bloomberg News report ...

Daily Headline - global.abi.org - 06/02/2016 - 20:58 - 0 comments

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