November 17, 2017 / 12:22 PM / in a month

Brazil judge blocks new Oi directors from role in recovery plan

RIO DE JANEIRO, Nov 17 (Reuters) - The Brazilian judge overseeing the debt restructuring of telecommunications firm Oi SA has blocked two recently appointed directors from taking a role in drafting its recovery plan.

In a Thursday ruling, Judge Fernando Viana said the two board members who were named to management positions on Nov. 3 were banned from getting involved in talks with creditors to restructure the company’s $20 billion debt. (Reporting by Rodrigo Viga Gaier)

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