Brazil's Oi blocked from further asset sales as court orders funds for essential services

A Rio de Janeiro 7th Business Court ordered Method Telecomunicações to pay the full R$60.1 million owed to Oi for the purchase of its fixed‑line service, ending the agreed installment plan. The judge noted Oi's urgent need for cash to meet employee and supplier obligations and warned that the telecom's operations could cease by 10 August without the payment.

In a separate ruling, Judge Simone Gastesi Chevrand denied Oi's request to continue selling its remaining assets, stating that any alienation must follow essential procedural steps and receive approval from the public prosecutor and the judicial watchdog. She also mandated that all revenue from Oi's public‑service contracts be earmarked exclusively for paying the suppliers that keep those services running.