Work Area: Insolvency & Restructuring

DLA Piper Martínez Beltrán boosts restructuring and competition groups

Colombia’s DLA Piper Martínez Beltrán has hired a former bankruptcy judge and promoted one of its associates, strengthening its restructuring, disputes and competition groups.

19 September 2019

Brazilian miner agrees 1.5 billion reais restructuring with creditors

Donelli, Abreu Sodré e Martins Advogados has helped Brazilian mining company Zamin Amapá Mineração agree a restructuring plan with creditors worth 1.5 billion reais (US$362 million).

17 September 2019

Venezuelan opposition turns to Sullivan & Cromwell for restructuring

The opposition, led by Venezuelan National Assembly president Juan Guaidó, announced on 3 September that it had brought in James Bromley and Sergio Galvis to help restructure its external debt and other obligations.

09 September 2019

Odebrecht files for Chapter 15

Scandal-ridden construction group Odebrecht has filed for Chapter 15 recognition of its US$25 billion debt restructuring in Brazil, to protect overseas assets from creditors.

28 August 2019

Brazilian sugar exporter accused of fraud files Florida Chapter 15

The foreign representative of a group of Brazilian sugar and ethanol exporters has filed for Chapter 15 recognition in Florida, accusing the group’s owners of “gross mismanagement”.

27 August 2019

Mexican state of Chihuahua gets restructuring loan

Holland & Knight (Mexico) has helped Banco Multiva grant a US$62 million loan to the northern Mexican state of Chihuahua as part of a larger restructuring plan worth US$1.47 billion.

09 August 2019

Venezuelan companies fear foreign asset grab post Maduro

In a wide ranging discussion at the Latin Lawyer - GRR Live 4th Annual Restructuring summit in New York, speakers discussed Venezuela's post Maduro future, the country's conflicting restructuring plans and its soverign debt. Venezuelan companies that were worth US$1 billion 20 years ago can now be bought for US$55 million, according to GCG Advisors managing partner Jose Gonzales. “If you want to take the risk, there should be plenty of opportunity.”

02 August 2019

Brazilian group accused of hiding assets offshore

The foreign representative of a bankrupt Brazilian conglomerate has applied for Chapter 15 recognition in Miami, accusing the group’s family owners of building corporate structures offshore to hide their assets from creditors.

29 July 2019

Atlantica gets syndicated loan for Chilean transmission line

Dentons Larraín Rencoret has helped three subsidiaries of UK renewables company Atlantica Yield obtain a US$80 million loan for an electricity transmission line in Chile’s northern Coquimbo region.

19 July 2019

Asset sales protect investigated companies’ creditors more than judicial restructuring, says panel

The wave of anti-corruption probes following Operation Car Wash left many implicated companies on the verge of bankruptcy, but most have found selling assets before filing for judicial restructuring better preserves the value of those assets than bankruptcy proceedings do, heard delegates at Latin Lawyer – GRR Live 4th Annual Restructuring conference.

16 July 2019

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