News

Brazil’s Sperling Advogados hires compliance partner

Brazil’s Sperling Advogados hires compliance partner

17 July 2019

Brazilian firm Sperling Advogados – which was formerly known as Rothmann Sperling Padovan Duarte Advogados before rebranding last year – has strengthened its compliance practice with a partner hire.

Asset sales protect investigated companies’ creditors more than judicial restructuring, says panel

Asset sales protect investigated companies’ creditors more than judicial restructuring, says panel

16 July 2019

The wave of anti-corruption probes following Operation Car Wash left many implicated companies on the verge of bankruptcy, but most have found selling assets before filing for judicial restructuring better preserves the value of those assets than bankruptcy proceedings do, heard delegates at Latin Lawyer – GRR Live 4th Annual Restructuring conference.

Caixa sells stake in Petrobras

Caixa sells stake in Petrobras

16 July 2019

Cleary Gottlieb Steen & Hamilton LLP in New York and Lefosse Advogados in São Paulo have helped Brazilian state-owned bank Caixa Econômica Federal sell its stake in Petrobras through the largest equity issuance in Brazil in six years, worth US$1.9 billion.

Brazil’s Barbosa Raimundo scores Flamengo legal manager

Brazil’s Barbosa Raimundo scores Flamengo legal manager

16 July 2019

Brazil’s Barbosa, Raimundo, Gontijo e Câmara Advogados has hired the legal manager of Rio-based football club Flamengo as counsel.

Ex-Ritch Mueller and Mijares lawyer opens new Mexican firm

Ex-Ritch Mueller and Mijares lawyer opens new Mexican firm

16 July 2019

The general counsel of Mexican asset manager Akaan, Joaquín Pani, has returned to private practice and opened a corporate and finance boutique in Mexico City.

Bondholders respond to Venezuelan opposition debt plan

16 July 2019

Holders of Venezuelan sovereign bonds have responded to the Guaidó opposition’s guidelines for a US$150 billion debt restructuring, warning that a workout must be fair and transparent to creditors.

Enel Brasil issues debt for 9 billion reais

16 July 2019

Pinheiro Guimarães has helped utilities company Enel Brasil raise 9.3 billion reais (US$2.4 billion) in what is thought to be one of the company’s largest ever debt taps in Brazil. 

Mattos Filho hires former Pinheiro Neto counsel

Mattos Filho hires former Pinheiro Neto counsel

15 July 2019

In its third lateral hire this year, Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados has recruited a lawyer who previously spent 17 years at Pinheiro Neto Advogados.

Venezuela's diverse debt pile will complicate restructuring, says debt guru

Venezuela's diverse debt pile will complicate restructuring, says debt guru

15 July 2019

The “astonishing” diversity of Venezuela’s US$150 billion debt pile means its potential sovereign debt workout will be unlike any seen before, the opposition government’s adviser Lee Buchheit has said, as he raised scepticism about state oil company PDVSA entering Chapter 15 bankruptcy in the US.

Leĝa and Antequera ally to break Venezuelan trademark deadlock

Leĝa and Antequera ally to break Venezuelan trademark deadlock

15 July 2019

Full-service firm Leĝa and IP boutique Estudio Antequera Parilli & Rodríguez have allied in a bid to push through hundreds of pending trademark and patent cases in Venezuela.