The judge in charge of Oia’s recovery lawsuit, Fernando Viana, dismissed the claims of Caixa Econômica Federal, Banco do Brasil and Itaú Unibanco against the operator. Banks have asked to extend the company’s recovery process and freeze money from the sale of assets to guarantee the repayment of debts, totaling 6.9 billion reais, as revealed by Broadcast (the Group’s state real-time news system) in November.

The banks disputed the lack of information about the value Oi received through the sale of a number of assets, including its mobile network and fiber optic network.

Tele’s recovery plan provides for early repayment of debts to banks before the end of the year if the volume of sales cash exceeds the level of 6.5 billion reais, which, according to the company, did not happen. This mechanism is known as money purge and included in paragraph 5.4 of the recovery plan.

According to the court, the sale of Oi’s assets is in accordance with the requirements of the plan, and creditors do not provide for a reserve obligation.

Another issue raised by the banks concerned a possible outflow of Oi assets after the sale of assets, but this thesis was also refuted.

“The allegation is unfounded as the sale of assets by the companies being reorganized is in the plan and in the approved amendment and was carried out as a market decision and a strategic part of their restructuring plan,” Viana said. “In connection with the foregoing, within the framework of this judicial supervision of reorganization proceedings, there is nothing to provide for the claims of financial creditors,” the judge said in a decision dated December 7.

The judge also followed the position, already included in the file by the prosecutor’s office and court administrator of the case (Wald Advogados’ office), that the authorities should not discuss Oi’s economic viability or her ability to honor the future. obligations.

“This decision does not raise the question of the economic viability of the reorganized companies and their financial ability to meet future obligations, since such conditions are inextricably linked to the sovereign will of the meeting of creditors, which deliberately approved the reorganization plan and its amendment,” he described.