Work Area: Insolvency & Restructuring

Argentina faces the perfect storm, again

Featured in Covid-19: managing in a crisis

The covid-19 pandemic has paralysed the world economy. Companies are in survival mode, but also need to make plans for the day after. Marval O'Farrell Mairal M&A partner Ricardo Beller recalls the different paths companies followed to overcome Argentina’s prior crises and considers their value today.

29 June 2020

Chilean casino operator seeks New York recognition for local bankruptcy

South American hotel and casino operator Enjoy is seeking recognition of its Chilean bankruptcy in New York, claiming a wave of civil unrest and the covid-19 pandemic have “significantly harmed” its business.

22 June 2020

Argentina faces the perfect storm, again

Featured in Covid-19: reporting on a crisis

The covid-19 pandemic has paralysed the world economy. Companies are in survival mode, but also need to make plans for the day after. Marval O'Farrell Mairal partner Ricardo Beller recalls the different paths companies followed to overcome Argentina’s prior crises and considers their value today.

19 June 2020

Colombian travel card company restructures debt

Colombian firms Mendoza Abogados, Urdaneta, Vélez, Pearl & Abdallah Abogados and Diana Maria Gutiérrez Uribe Insolvencia & Sociedades have helped digital payment company Recaudo Bogotá restructure 372 million Colombian pesos (US$100 million) worth of debt with lenders.

17 June 2020

Sergio Bermudes behind Brazilian real estate debt restructuring

Sergio Bermudes Advogados has helped Brazilian real estate company João Fortes Engenharia obtain approval by the Rio de Janeiro’s Court of Justice to restructure 1.3 billion Brazilian reais (US$231 million) of debt.

03 June 2020

Dias Carneiro hires corporate partner in Brazil

Dias Carneiro Advogados has hired a Cleary Gottlieb Steen & Hamilton LLP associate as partner in São Paulo to boost its corporate and M&A practice.

02 June 2020

Hogan Lovells and Cleary help amend Ecuador’s US$19 billion debt load

Hogan Lovells LLP in New York, Houston and Miami have helped the Republic of Ecuador and state-owned oil company Petroamazonas EP reach successful consent solicitations with creditors to delay debt and interest payments and change the terms and conditions of various debt series worth a combined US$19 billion.

02 June 2020

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

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