Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Rio court rejects Oi shareholders’ arbitral challenge, US court rebukes Aurelius again

By Declan Bush

15 March 2018

A Brazilian court has taken measures to protect Oi’s restructuring plan from shareholders who are trying to challenge it in arbitration, as a New York court rejected attempts by hedge fund Aurelius Capital Management to reverse a decision rebuking it for “weaponising” Chapter 15 proceedings last year.

Rio court rejects Oi shareholders’ arbitral challenge, US court rebukes Aurelius again Rio de Janeiro, Brazil (Credit: iStock.com/Ultima_Gaina)