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After more than 12 hours of negotiations, Oi’s creditors meeting at a General Meeting of Creditors held on Tuesday 8, voted to approve the proposed Amendment to the Oi judicial reorganization plan approved in 2017. The vote was approved by the four classes: 99.86% of Class I labor creditors, 100% of Class II collateral creditors (BNDES); 96.84% of Class III, without guarantee in number and 68.15 in value; and 99.2% of Class IV, microenterprises.
For the meeting, 5,194 creditors were registered. The voting closed at 11:02 p.m. and the results were presented at 11:6 p.m., being declared closed.
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The creditors voted whether to accept (yes), reject (no) or abstain from voting on the proposal to add the judicial reorganization plan (abstention); the creditor who did not vote until the end of the voting period was counted as abstention. The votes will be counted in accordance with article 45 of Law 11.101.
For Classes I (labor) and IV (microenterprise), the approval would be made by a simple majority of the creditors present, regardless of the amount of their credit. Classes II (collateral) and III (unsecured), on the other hand, were approved by creditors representing more than half of the total amount of credits present to AGC and, cumulatively, by a simple majority of creditors present.
