Work Area: Insolvency & Restructuring

UTC to divest energy assets in third restructuring amendment

Brazilian firm Leite, Tosto e Barros Advogados has helped local engineering group UTC amend its 3.7 billion restructuring (US$723 million) deal for the third time, following months of shareholder negotiations.

30 July 2021

Argentina’s largest dairy producer swerves default with bond swap

Argentina’s largest dairy company, Mastellone Hermanos, has hired Linklaters in New York and local firm Cibils, Labougle, Ibañez Abogados to swap bonds worth US$164 million with newly issued notes to restructure part of its US$200 million debt pile.

09 July 2021

Chilean bank investor gets interim protection amid restructuring

A Chilean financial holding company controlled by billionaire Alvaro Saieh has secured court protection in Delaware to fend off any potential collection attempts by foreign creditors, as it works to restructure more than US$1.8 billion in debt.

06 July 2021

Argentine province of Chaco restructures debt

The New York and Buenos Aires offices of DLA Piper LLP have helped the Argentine province of Chaco restructure US$250 million worth of foreign debt.

30 June 2021

Samarco tables US$10 billion restructuring plan

One month after securing Chapter 15 recognition in New York, Brazilian miner Samarco Mineração has proposed a judicial reorganisation plan that could see unsecured creditors take an 85% haircut on their claims.

16 June 2021

Several firms in Brazilian e-commerce IPO

Cleary Gottlieb Steen & Hamilton LLP in New York and São Paulo and Brazilian law firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados have helped local e-commerce company Infracommerce raise 870 million reais (US$160 million) in an initial public offering on the São Paulo stock exchange.

28 May 2021

Deal of the Year Winner: Restructuring

Featured in 15th Annual Awards

In the aftermath of Argentina’s historic deal with its foreign creditors, President Alberto Fernández described the indebtedness the country had left behind as a “labyrinth”. The US$65 billion deal is the largest sovereign debt restructuring in recent years and marked the first test of collective action clauses (CACs) included in bonds issued by Argentina back in 2016. It wins the restructuring category of our Deal of the Year Awards.

25 May 2021

Deal of the Year Winner: Banking & Finance

Featured in 15th Annual Awards

When the covid-19 pandemic grounded the global travel industry, the subsequent financial strain caused Latin American aviation companies to drop off the radar one by one. Regional aviation group LATAM Airlines obtained a US$2.45 billion DIP financing from a group of international shareholders, creditors and lenders several months after the airline filed for Chapter 11 bankruptcy proceedings in New York in May 2020. This lifeline wins the banking & finance category of our Deal of the Year Awards.

24 May 2021

Several firms help Chilean ski resort restructure debt

Carey has helped Chilean ski resort Valle Nevado restructure US$60 million worth of debt, following financial difficulties caused by recent snow shortage and social restrictions amid the covid-19 pandemic.

06 May 2021

Chilean car importer seeks support for pre-pack restructuring

Chilean car importer Automotores Gildemeister has commenced solicitation for a pre-packaged Chapter 11 process to reduce its debt by over US$200 million, after restructuring its senior notes in 2019 and 2016.

20 April 2021

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