Oi SA ( (BR:OIBR3) ) has provided an update.

Oi S.A., which remains under judicial reorganization, reported that the Court of Justice of the State of Rio de Janeiro has issued new decisions affecting the management of its court-supervised restructuring process. The decisions stem from interlocutory appeals filed by major creditor banks Itaú Unibanco and Banco Bradesco, underscoring continued creditor scrutiny of the company’s restructuring governance.

The court removed Dr. Bruno Galvão Souza Pinto de Rezende from his position as Judicial Manager and reassigned him to work, via Preserva-Ação Administração Judicial, alongside Dr. Sérgio Zveiter in the Joint Administration overseeing the process. A Judicial Observer, Dr. Adriano Pinto Machado, has also been appointed to support the Joint Administration, signaling tighter oversight of the reorganization and potentially influencing how stakeholder interests are monitored as the case progresses.

The company has made the full decisions available on its investor relations and judicial reorganization websites, as well as through the securities regulator’s disclosure system. Oi reiterated that it will continue to update shareholders and creditors on developments in the restructuring, highlighting the ongoing, highly supervised nature of its turnaround efforts.