Topic: Cross-border insolvency

Bumper harvest and DIP loan help Brazil's Moreno exit bankruptcy

Felsberg Advogados has helped Brazilian sugar ethanol company Grupo Moreno repay its entire debt pile of 1 billion reais (US$180 million), withdrawing a debtor-in-possession (DIP) loan to settle the bill.

17 January 2022

Linklaters, Rebaza Alcázar and DLA Piper in Peruvian bank debt restructuring

Peruvian financial institution Edpyme Acceso Crediticio has turned to Linklaters in New York and Rebaza, Alcázar & De Las Casas in Lima to restructure US$200 million worth of debt.

14 January 2022

Mexican hotel chain restructures debt amid Chapter 11

Cleary Gottlieb Steen & Hamilton LLP in New York and Ritch Mueller y Nicolau, S.C. in Mexico City have helped Mexican hotel operator Grupo Posadas restructure US$393 million worth of debt as part of the company’s Chapter 11 process.

13 January 2022

Avianca emerges from Chapter 11 restructuring

Five offices of US firm Milbank and Gómez-Pinzón in Bogotá have helped Latin American airline Avianca emerge from its Chapter 11 restructuring process and eliminate debt worth more than US$1 billion.

10 January 2022

Azul backs off from LATAM offer after restructuring filed

Two days after South America’s largest airline LATAM submitted a Chapter 11 plan in New York, one of its Brazilian competitors has backed off from an offer to combine with the Chile-headquartered company.

08 December 2021

LATAM Airlines gets additional US$750 million DIP financing

LATAM Airlines has hired several international and Latin American law firms to obtain an additional US$750 million debtor-in-possession (DIP) financing, part of the aviation group’s Chapter 11 bankruptcy proceedings.

24 November 2021

Avianca set for UK move after Chapter 11 restructuring approval

Latin American airline Avianca has secured court approval of its Chapter 11 restructuring plan in New York, shortly after revealing plans to shift its domicile to the UK.

10 November 2021

Several firms help Avianca land DIP-to-exit financing

Milbank in New York, Gómez-Pinzón in Bogotá and Morgan & Morgan in Panama City have helped Colombian airline Avianca obtain a US$1.05 billion facility that will help it exit its existing debtor-in-possession (DIP) financing.

22 September 2021

Raízen and Biosev complete tie-up with US$1.3 billion restructuring

Brazilian sugar ethanol producer Biosev has enlisted Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados and FLH Advogados to renegotiate its debt pile of 7 billion reais (US$1.3 billion) with a syndicate of 15 lenders, to fulfil the obligations of its merger with Brazilian energy company Raízen.

14 September 2021

Mexican hotel group restructures debt in US pre-pack process

Mexican hotel operator Grupo Posadas has entered an agreement with creditors to restructure US$393 million worth of notes through a pre-packaged process in the US.

25 August 2021

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