Oi May Part With PJT in Hunt for Brazilian Legal Expertise
- Company’s needs have changed with bankruptcy, Schroeder says
- ‘Our situation was pretty different’ before June court filing
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Oi SA, operating in bankruptcy since June, is looking for a financial adviser with more experience in Brazilian law to aid negotiations with bondholders and may cut ties to PJT Partners.
“We started negotiating with bondholders at the end of last year and our situation was pretty different,” Chief Executive Officer Marco Schroeder told reporters at a conference in Sao Paulo Wednesday. “Now that we are in a judicial recovery process, it is natural that we look for a financial adviser that understands very well the legal issues.”