Oi - Investor Relations Mobile | Material Fact - Decision of American Court concerning the Chapter 15 of the US Bankruptcy Code

Oi S.A. - In Judicial Reorganization
Corporate Taxpayers’ Registry (CNPJ/MF) No. 76.535.764/0001-43
Board of Trade (NIRE) No. 33.30029520-8
Publicly-Held Company


Oi S.A. - In Judicial Reorganization ("Oi" or "Company"), pursuant to Article 157, paragraph 4, of Law No. 6,404/76 and CVM Instruction No. 358/02, informs its shareholders and the market in general that on December 4, 2017 the Judge of the Bankruptcy Court for the Southern District of New York issued a ruling denying the motion of Mr. Jasper Berkenbosch (Judicial Administrator in the Netherlands for Oi Brasil Holdings Coöperatief U.A. - In Judicial Reorganization - "Oi Coop") to revoke the current ruling issued under Chapter 15 of the US Bankruptcy Code ("Chapter 15") proceeding of Oi Brasil Holdings Coöperatief UA - In Judicial Reorganization ("Oi Coop"), and to recognize Oi Coop’s bankruptcy proceedings in the Netherlands as its foreign main proceeding, maintaining the recognition by that Court of the judicial reorganization proceeding, presently ongoing in the 7th Corporate Court of the Judicial District of the State of Rio de Janeiro, Brazil, as its foreign main proceeding. In reaching this decision, the Judge found that the center of main interests or "COMI" of Oi Coop was and remains in Brazil.

The full text of this decision is attached to the Material Fact and is also available for download on the Company’s website (www.oi.com.br/ri), on the CVM’s Empresas.NET system (www.cvm.gov.br), as well as the website of B3 SA - Brasil, Bolsa, Balcão (www.bmfbovespa.com.br). The Company will arrange for the translation of the decision into Portuguese and will make it available as soon as possible at the above addresses.

The Company will keep its shareholders and the market informed of any relevant development on the subject matter of this Material Fact.

Rio de Janeiro, December 5, 2017

Carlos Augusto Machado Pereira de Almeida Brandão

Chief Financial Officer, Investor Relations Officer and Officer
Oi S.A. - In Judicial Reorganization

For the PDF file, click here.

Last Update: December 05, 2017