On Abril 29, 2016, Sete Brasil Participações S.A.,
Sete Holding GMBH, Sete International One GMBH, Sete International
Two GMBH. Sete Investimentos I S.A. and Sete Investimentos II S.A.
("Sete Brasil") requested their judicial reorganization
proceeding in Brazilian Courts. The lawsuit was assigned to the
Third Business Court of the City of Rio de Janeiro, State of Rio de
Janeiro, dockets No. 0142307-13.2016.8.19.0001. The judge has not
accepted the judicial reorganization request yet, but, as soon as
the judge accepts it, Sete Brasil will have to present a plan
within 60 days, informing the manner it proposes payment of its
debts. The granting of the authorization will also trigger the
suspension of the existing lawsuits against Sete Brasil for 180
days. Reorganization Plans usually entices payment of debts in
several installments and with substantial discounts. Sete Brasil
has already filed a preliminary list of creditors, appointing the
amounts due, but such list was
