Work Area: Insolvency & Restructuring

ECIJA hires two partners in Brazil

Brazilian firm Maneira ECIJA has strengthened its corporate, restructuring and tax practices by hiring two partners, including a former in-house lawyer from telecoms group Oi.

08 February 2023

Oi secures urgent insolvency protection in Rio

Lawyers from BMA Advogados have helped Brazil’s Oi and two of its Dutch affiliates obtain provisional protection from creditors in a Rio de Janeiro court, less than two months after the telecoms company formally exited a six-year-long judicial reorganisation process before the same court.

07 February 2023

Cuba challenges sovereign debt assignment in English courts

An eight-day trial is under way in London to decide whether a Cayman fund can bring a claim against Cuba for payment of an almost 40-year-old sovereign debt governed by English law and denominated in now-defunct German Deutschmarks.

30 January 2023

Americanas files Chapter 15 in New York

Rio de Janeiro-headquartered retail giant Americanas has sought New York recognition of its Brazilian judicial recovery proceedings to protect its US assets, two weeks after it disclosed a near four-billion-dollar gap in its balance sheet.

27 January 2023

Rio court accepts Americanas’ bankruptcy protection

Basilio Advogados and Salomao Kaiuca Abrahao Advogados have helped Brazilian retail giant Americanas get its request for bankruptcy protection approved by a Rio de Janeiro court, only days after accounting inconsistencies were revealed at the company.

26 January 2023

Brazilian and US firms advise as Ocyan begins restructuring

Offshore oil drilling group Ocyan, formerly known as Odebrecht Óleo e Gás (OOG), has opened Brazilian extrajudicial reorganisation proceedings to deal with a US$2.7 billion debt pile through a debt-for-equity swap.

17 January 2023

Brazilian firms score in John Textor buy of French football club

US businessman John Textor, majority owner of Brazilian football club Botafogo, has enlisted three DLA Piper LLP offices and its associated firm Campos Mello Advogados in São Paulo to restructure its shareholdings and acquire French football team Olympique Lyonneis (Lyon) for €330 million (US$347 million).

10 January 2023

Bruchou adds insolvency and disputes firepower

Argentine Elite firm Bruchou & Funes de Rioja has strengthened its disputes and restructuring groups by hiring a partner from local outfit Estudio Matta y Trejo.

05 January 2023

Oi sells telecom towers amid recovery proceedings

A subsidiary of Brazilian telecoms infrastructure group Highline has hired Vinson & Elkins LLP in New York and Stocche Forbes in São Paulo to buy 1.7 billion reais (US$325 million) worth of assets from Oi, as part of the seller’s ongoing judicial recovery.

05 January 2023

Chile’s Fleischmann & Román appoints partner with Lembeye hire

Chile’s Fleischmann & Román Abogados has recruited a senior associate from fellow Recommended outfit Lembeye Abogados as partner, strengthening its disputes and insolvency practice.

05 January 2023

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