Work Area: Insolvency & Restructuring

LATAM follows Avianca example with New York Chapter 11

Hot on the heels of the Colombian airline Avianca, Latin America’s largest passenger airline LATAM has also become a US “bankruptcy tourist” - and has filed recognition proceedings in Chile and Colombia, as well as a parallel process in Peru.

27 May 2020

Working against the clock: Argentina’s debt deadline approaches

Argentina is facing a tight deadline to restructure its sovereign debt – if it fails, the country could enter its ninth debt default on 22 May. But although it only has a week left to pay certain debt obligations, lawyers believe there is still a chance Argentina and its creditors may reach an agreement, because neither party would benefit from a default.

15 May 2020

Colombia’s Avianca looks to shed aircraft through Chapter 11

Colombian aviation group Avianca has filed for Chapter 11 protection in New York seeking to reduce its fleet in light of the covid-19 pandemic, in what is the second time it has turned to US bankruptcy courts since it became an early "bankruptcy tourist" almost two decades ago.

13 May 2020

Chilean retail chain strikes restructuring deal with creditors

Philippi Prietocarrizosa Ferrero DU & Uría (Chile) and Puga Ortiz have helped local company AD Retail restructure US$180 million worth of debt with creditors.

30 April 2020

Creditors “respectful” of public health crisis in sovereign debt talks, says Quinn Emanuel partner

Featured in Covid-19: reporting on a crisis

Quinn Emanuel Urquhart & Sullivan LLP partners Dennis Hranitzky and Susheel Kirpalani consider the impact of the current public health crisis on sovereign debt workouts in Latin America. By Jordan Fermanis

23 April 2020

Veirano poaches insolvency partner from Cascione Pulino

Latin Lawyer Elite firm Veirano Advogados has once more hired a partner from Cascione Pulino Boulos Advogados.

14 April 2020

Greenberg Traurig restructuring co-chair joins Baker McKenzie

Greenberg Traurig LLP’s global head of restructuring Mark Bloom has left the firm after almost 40 years, taking two colleagues with him to join Baker McKenzie LLP in Miami, adding to that firm's Latin America capabilities.

14 April 2020

Help clients avoid insolvency, and worse, in the covid-19 crisis

Featured in Covid-19: reporting on a crisis

Covid-19 has left companies in hot water, with many falling behind on credit payments and commercial obligations. Law firms are busy keeping their clients’ businesses in the clear and trying to help them mitigate the financial problems covid-19 might cause.

09 April 2020

Brazil makes covid-19 amendments to bankruptcy law

Featured in Covid-19: reporting on a crisis

Following examples from around the world, Brazil has moved to temporarily amend its bankruptcy law to help the economy through covid-19 – but ambitions to get longer-term amendments through at the same time look likely to be dashed.

07 April 2020

Covid-19 complicates Argentina’s impending debt restructuring

Featured in Covid-19: reporting on a crisis

After the outbreak of covid-19, Argentina’s decision to delay presenting bondholders with an offer to restructure billions of its international debt did not come as a surprise to many. But local lawyers think the country must urgently take the bull by the horns if it wants to maintain access to international capital markets.

02 April 2020

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