Brazil court picks PricewaterhouseCoopers as Oi bankruptcy administrator

viernes 22 de julio de 2016 19:28 GYT

SAO PAULO, July 22 (Reuters) - A Brazilian judge overseeing the bankruptcy protection process of phone carrier Oi SA on Friday named auditing and advisory firm PricewaterhouseCoopers as the company's in-court administrator.

Judge Fernando Cesar Ferreira Viana, who is based in Rio de Janeiro, also tapped law firm Arnoldo Wald to work alongside PricewaterhouseCoopers on the in-court reorganization of Oi, according to a statement published on the court's website.

Reuters reported earlier this month that Alvarez & Marsal Holdings LLC, PricewaterhouseCoopers and Deloitte & Touche LLP applied for the mandate to oversee Oi's bankruptcy protection.

An in-court administrator usually looks after the interests of creditors in the company under bankruptcy protection during the process.

Industry sources have said PricewaterhouseCoopers, a household name in global insolvency cases, has not advised on any of Brazil's biggest bankruptcy protection cases since the firm began working on the segment two years ago.

Oi shareholders earlier on Friday reiterated their support for efforts by the management of Brazil's largest fixed-line phone carrier to pursue an in-court reorganization, which would be the country's biggest ever.

In June, Oi filed a request before the Rio de Janeiro court to reorganize 65 billion reais ($20 billion) of bank, bond and operational liabilities in court. ($1 = 3.2559 Brazilian reais) (Reporting by Ana Mano; editing by Guillermo Parra-Bernal, G Crosse)