Work Area: Insolvency & Restructuring

Peruvian shopping centre restructures debt after credit downgrade

Peru’s Rebaza, Alcázar & De Las Casas has helped local shopping centre operator Jockey Plaza restructure the terms of a US$150 million bond programme to avoid a default, after credit rating agency Moodys downgraded the bonds.

17 September 2020

Latin American airline Chapter 11s, forum shopping or sound strategy?

Specialists from the US, Brazil, Chile and Mexico met to discuss the allure of the Chapter 11 process for Latin American’s three largest airlines, Avianca, LATAM and Aeroméxico, as well as the potential pitfalls of forum shopping.

14 September 2020

Hernández & Cía helps Falabella in Peruvian restructuring

Hernández & Cía Abogados has helped Chilean retail group Falabella restructure its business in Peru by creating two new entities that were listed on the Peruvian stock exchange.

11 September 2020

Ecuador completes US$17.4 billion debt restructure

Ecuador has completed a deal with bondholders to restructure an international debt pile worth US$17.4 billion, enlisting six Hogan Lovells LLP offices to do so, while deal manager Citigroup hired Cleary Gottlieb Steen & Hamilton LLP offices in New York and Buenos Aires and Ecuador’s Pérez Bustamante & Ponce.

04 September 2020

Disputes finance firm hires Morgan Lewis partner for LatAm offer

Australian dispute finance firm Omni Bridgeway has appointed a new leader for its global distress-related litigation funding business in New York, targeting Latin America.

03 September 2020

Mexican regulator “overwhelmed” as Banco Famsa collapses

Mexico’s National Banking and Securities Commission (CNBV) has been “alarmingly” slow in responding to applications from new financial institutions and “lacks senior technocrats to answer the more complex questions” as it takes heat over the collapse of domestic lender Banco Famsa.

28 August 2020

Why are distressed LatAm companies seeking US insolvency protection?

As companies continue to be pinched by pressures brought about by the covid-19 crisis, María Luisa Cánovas and Dan Moss explain why US insolvency protection can offer struggling Latin American corporations a lifeline.

25 August 2020

Creditors to vote on amendments to Oi’s landmark reorganisation

Three White & Case LLP offices and BMA - Barbosa, Müssnich, Aragão in São Paulo have helped Brazilian telecoms company Oi present creditors with amendments to its US$20 billion restructuring plan – which was approved in 2019 – in a bid to get higher offers on assets put up for sale and extend new loans.

25 August 2020

Odebrecht subsidiary files for US$3.3 billion extrajudicial restructuring

Cleary Gottlieb Steen & Hamilton LLP has helped the construction services arm of Brazilian company Odebrecht file for an extrajudicial restructuring of US$3.3 billion worth of notes in São Paulo.

25 August 2020

Avianca launches bid for DIP funding amid Chapter 11 restructuring

Colombian airline Avianca has announced it has reached “key agreements” with lenders to obtain debtor-in-possession (DIP) financing as it continues to restructure through a Chapter 11 process in New York.

24 August 2020

Get unlimited access to all Latin Lawyer content