Rio de Janeiro prosecutors have asked the court supervising Oi SA's bankruptcy proceedings to suspend a shareholders meeting scheduled for Sept. 8 to give the Brazilian phone carrier time to negotiate with a minority investor, Reuters reported. The purpose of the meeting is to decide on changes to Oi's board as proposed by activist minority investor Société Mondiale, according to a statement on Wednesday.

Pacific Andes group executives are disputing creditors' notion that the Peruvian insolvency proceedings for its fishmeal companies can block the New York court's access to those assets, Undercurrent News reported. In recent days, Pacific Andes International Holdings (PAIH) executive director, Jessie Ng, as well as representatives from its Peru-based China Fishery Group subsidiary and suppliers to the Peruvian companies have made statements before the court asserting that China Fishery's current management is best suited to operate the company during its restructuring.

The case of $67,000 stolen from Argentine Vice President Gabriela Michetti’s house should have ended when her bodyguard was arrested, Bloomberg News reported. Instead, prosecutors have shifted to tracing the money’s origin, making her a public example of the challenges President Mauricio Macri’s faces in weaning the country off its reliance on cash, an age-old system that in many instances hides tax evasion. Elected last November on a vow to reverse 12 years of leftist populism, Macri ended currency controls, reformed the statistics bureau and settled a toxic dispute over bond payments.

Testimony began Thursday in the impeachment trial of suspended Brazilian President Dilma Rousseff, amid occasional shouting matches and mutual accusations between opposing lawmakers, The Wall Street Journal reported. “From now on, you will be judges,” Ricardo Lewandowski, the chief justice of Brazil’s Supreme Court, said in his opening remarks, reminding senators of the role they will play in a trial that is expected to conclude by next week. But from the start, the process took on overtly political overtones. Senators who have publicly supported Ms.

An international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than $1.2 billion ($1.5 billion Cdn.) for expropriating its gold mines. Venezuela took over Rusoro Mining’s investments in the country as part of a nationalization of the gold industry in 2011, the Toronto Star reported on a Canadian Press story. Rusoro Mining Ltd. said Tuesday the money is due immediately and it expects that Venezuela will comply with its international obligations.

Thousands of Chileans took to the streets nationwide on Sunday to demand a dismantling of a private pension system criticized for providing retirees with low payouts, The Wall Street Journal reported. The backlash against the system follows years of accolades by multilateral organizations such as the World Bank, which held up Chile’s pioneering use of individual savings accounts as an alternative for countries with costly state pensions considered unsustainable because of aging populations.

A Rio judge ruled Wednesday that the local Olympic organizing committee could be bailed out with public funds, a setback to prosecutors who had sought transparency in the committee’s budget first, The Wall Street Journal reported. Federal Judge Guilherme Couto de Castro lifted an injunction that had been in place since Friday and upheld on Monday blocking the Rio 2016 committee from receiving taxpayer funds unless it opens its books.

Banks and bondholders accounting for more than half of Oi SA's debt of 65.4 billion reais ($20 billion) are considering proposing a 5-year grace period and lower borrowing costs to speed up the Brazilian phone carrier's in-court reorganization, a person with direct knowledge of the talks said on Tuesday, Reuters reported.

Venezuela President Nicolás Maduro’s decision to reopen the border with Colombia grants his countrymen a lifeline of crossing into frontier towns to buy what they need. Five border crossings opened Saturday under a plan announced by the presidents of both countries to gradually normalize movement. Cars will be allowed to cross in a month. But for now, traffic is limited to pedestrians, meaning for many of 54,000 Venezuelans who crossed over, how much they take home depends not only on what they can afford, but also how much they can carry.

Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months after the Brazilian rig leaser sought court protection against 18 billion reais ($5.7 billion) in looming debt payments. Rio de Janeiro-based Sete Brasil is asking creditors, which include some of the world's leading shipbuilders and Brazil's largest lenders, to endorse a plan to help build between eight and 12 rigs, down from an original target of 28, Chief Executive Officer Luiz Eduardo Carneiro said in an interview.