Bondholder group vows to boost recovery during Brazil's Oi proceedings

lunes 25 de julio de 2016 12:53 GYT

SAO PAULO, July 25 (Reuters) - A group made of about 70 different bondholders in Oi SA vowed on Monday to work towards a successful in-court reorganization of Brazil's largest fixed-line phone carrier.

In a statement, the so-called Ad Hoc steering committee that is being advised by Moelis & Co said a letter by distressed debt investor Aurelius Capital Management LP in which it lambasts the Moelis-led group's restructuring proposal prior to Oi's bankruptcy filing is based on "incomplete and erroneous information" about the way Brazilian laws work. (Reporting by Guillermo Parra-Bernal)