Restructuring & insolvency

Brazil’s BTG Pactual snaps up BVA’s distressed loan portfolio

Galdino, Coelho, Mendes Advogados has helped BTG Pactual’s debt recovery unit Enforce acquire Banco BVA’s non-performing loan portfolio for 211 million reais (US$65 million).

Oi submits new restructuring plan ahead of adjourned creditors’ vote

Brazilian telecoms group Oi has submitted a revised restructuring plan before a court in Rio de Janeiro proposing a capital injection of 9 billion reais (US$2.8 billion), as creditors prepare to vote on whether the group can restructure seven entities in one go treating all creditors as a single, consolidated group.