Ecuador's comptroller's office on Monday announced it will open an audit of debt contracted in the last five years of the government of former President Rafael Correa to determine the legality of the operations and the use of the funds. The move follows a report by the comptroller's office revealing that some documentation relating to debt operations had been declared secret and that official reports on public debt had excluded some of the operations, the International New York Times reported on a Reuters story.

The judge overseeing the restructuring process of Brazilian telecom company Oi SA approved a massive debt restructuring plan on Monday and called a proposed shareholders meeting “absolutely unnecessary,” Reuters reported. In the decision, Judge Fernando Viana gave the official go-ahead to Latin America’s largest ever in-court debt reorganization. On Dec. 20, a majority of Oi creditors approved a plan to restructure 65 billion reais ($20.1 billion) of debt, putting an end to a year and a half of negotiations.

Venezuela’s bonds have lost about three-quarters of their value, reflecting a dozen missed payments by the government and the state-owned oil company. But many of their bondholders are still feeling flush, The Wall Street Journal reported. A number of investors have made their money back and more, thanks to coupon payments topping 13% and large principal payments that typically begin three years before a bond matures. A recent example includes bonds from state-oil company Petróleos de Venezuela SA, or PdVSA, which matured in November.

Venezuela has defaulted on another debt obligation, according to S&P Global Ratings, intensifying investor fears about the country’s ability to make more than $9 billion in bond payments due in 2018,The Wall Street Journal reported. The ratings firm said Tuesday that Venezuela failed to make $35 million in coupon payments for its bonds due in 2018 within a 30-day grace period. The government and the state-owned oil company are now behind on $1.28 billion in payments, according to investment firm Caracas Capital. S&P classifies these missed payments as defaults.

Oi SA’s largest equity investor called for a shareholders meeting to decide whether to take legal action against the chief executive officer and the chief financial officer and to scrutinize parts of the Brazilian phone company’s restructuring plan, Bloomberg News reported. CEO Eurico Teles and CFO Carlos Brandao exceeded their authority by negotiating the plan with creditors without the board’s approval, and investors should decide whether to file a civil liability claim against them, Pharol SGPS SA said in a letter published Friday in a filing.

As the rest of the oil-producing world recovers on the back of stronger energy prices, Venezuela is getting worse, the result of dysfunctional management, rampant corruption and the country’s crippling economic crisis, the New York Times reported. The deepening troubles at the state oil company, the country’s economic mainstay, threaten to further destabilize a nation and government facing a dire recession, soaring inflation and unbridled crime, as well as food and medicine shortages.

Mining company Crystallex International Corp said on Thursday Venezuela failed to honor a settlement and urged a federal judge to allow it to seize control of U.S. refiner Citgo Petroleum Corp., which is owned by the country’s state oil company, Reuters reported. Canada-based Crystallex won a 2016 international arbitration award of $1.2 billion against Venezuela, which has refused to pay. The company had been trying to collect by seizing shares of Citgo’s U.S. parent company, which is owned by Venezuelan state oil company PDVSA.

Brazilian telecoms company Oi SA is up for sale after it emerged from Latin America’s largest-ever bankruptcy protection process, Chief Executive Eurico Teles said on Wednesday. Teles said the company was ready to receive international investors and had received an offer of support from China Development Bank, Reuters reported. Many international investors, such as China Telecom Corp Ltd and China Mobile Ltd, offered a capital injection as the company struggled for a year and a half to restructure some 65.4 billion reais ($20 billion) in debt.

Oi SA creditors argued late into Tuesday night over a plan to restructure $20 billion in debt owed by the Brazilian telecoms company in Latin America’s largest-ever bankruptcy case as major creditors stayed silent about whether they would support it, Reuters reported. With creditors requesting one recess after another at a public meeting in Rio de Janeiro, a court-appointed administrator said the process would reconvene at 11:30 p.m. local time (0130 GMT). The management of Brazil’s No.

Venezuela investors are worried they’re getting ghosted. That’s the concern among a growing number of sovereign bondholders six weeks after the government’s mysterious announcement that it would seek to restructure its debt while also continuing to pay what’s owed in the meantime, Bloomberg News reported. It’s now been a month since a creditor meeting in Caracas produced no specific proposals, and as overdue bond payments pile up without any word from officials, the relationship looks to be on rocky ground.