After months of talks, the Argentine government and bondholders have reached a breakthrough in negotiations over the country’s foreign bonds, which are worth US$65 billion. While bondholders’ assent is still pending, lawyers believe the deal will get the required approval numbers, marking the country’s return to the international capital markets.
In response to the unprecedented impact of covid-19, Latin Lawyer and LACCA have launched a free-to-view and regularly updated information hub. Read about legislation and official communications issued by governments across Latin America in response to the evolving crisis here.
Latin Lawyer and LACCA's free-to-view and regularly updated information hub contains legislation and official communications issued by governments across Latin America in response to covid-19.
LATAM Airlines has run into judicial hurdles during its voluntary Chapter 11 proceeding, after creditors filed an objection to its US$2.45 billion debtor-in-possession (DIP) loan from Oaktree Capital Management and the airlines’ shareholders.
Jones Day offices in Cleveland and São Paulo; Rodrigo, Elías & Medrano Abogados in Lima; Santos Neto Advogados in São Paulo; Argentina’s Wiener, Soto, Caparrós; and Gamboa, García & Cardona in Bogotá have helped a US polymer manufacturer acquire a colour masterbatch business from Switzerland’s Clairant for US$1.4 billion, expanding its existing presence in Latin America.
TozziniFreire Advogados in São Paulo has helped the Brazilian subsidiary of Japanese conglomerate Mitsui & Co and car manufacturer Toyota enter a joint venture to develop mobility services in Brazil, as the companies plan further expansion in Latin America.
Clifford Chance LLP in Beijing and Beccar Varela in Buenos Aires have helped the Industrial and Commercial Bank of China (ICBC) acquire 20% stakes in three Argentine banking organisations from its own affiliate Standard Bank London for approximately US$181 million.
A US-owned renewables producer has launched a claim at the Permanent Court of Arbitration (PCA) against Argentina’s electricity market manager after a contract it had to build a solar park was rescinded.
Argentina’s Nicholson y Cano Abogados has helped the International Finance Corporation (IFC) grant a US$10 million loan to Paraguayan fertiliser company Agrofértil, as part of the bank’s wider US$8 billion financing package aimed at helping businesses in the region affected by the crisis.
Partner hires at law firms operating in Latin America fell by almost a third in the second quarter of 2020 compared to the same period in the previous year, as firms rein in expansion amid the covid-19 pandemic.