BRIEF-Jason adjournment of hearing for bankruptcy applications against certain directors
* Bankruptcy applications against sim Choon Joo, Jason Sim Chon Ang, were heard by High Court Of Republic Of Singapore
SAO PAULO, March 15 Oi SA, the Brazilian phone carrier operating under bankruptcy court protection, burned through 153 million reais ($49 million) in cash in January, according to a securities filing on Wednesday.
Oi said the negative free cash flow was due to seasonal factors, which caused receivables from clients to fall by 12 percent to 1.8 billion reais in the period. The company also reported an 18 percent rise in payments, to 2.5 billion reais, citing more disbursements to service providers in January.
The information was compiled by PricewaterhouseCoopers Assessoria Empresarial Ltda and law firm Advocacia Arnoldo Wald, which are the trustees of the bankruptcy proceeding.
Oi will release fourth-quarter results on March 22 after the market's close.
Rio de Janeiro-based Oi, which made Brazil's largest bankruptcy filing last June, ended January with 7.095 billion reais of cash on hand, a 2.7 percent drop from December.
($1 = 3.103 reais) (Reporting by Ana Mano; Editing by Leslie Adler)
* SAID ON THURSDAY THAT VOLUNTARY INSOLVENCY PROCEEDING OF SNIACE, CELLTECH AND VISCOCEL WAS CLASSIFIED "FORTUITOUS" BY THE INSOLVENCY ADMINISTRATION
* has been confronted with an austere situation in both production and operation, facing severe financial strain