Work Area: Insolvency & Restructuring

Private equity group sued for ‘rigged’ sale of LATAM’s aircraft

A global investment manager is being sued for the second time in three years for allegedly implementing a “sham foreclosure sale” of a bankrupt airline's aircraft.

15 September 2023

Samarco sanction ends years of "high-stakes" negotiations

Eight years since its fatal dam accident in the Brazilian state of Minas Gerais, a local court has approved a reorganisation plan for miner Samarco that was supported by a majority of its creditors and shareholders.

08 September 2023

Chilean wind project companies seek Chapter 11 protection

The Irish founder of a Chilean renewable energy group has moved to dismiss an “unusual” Chapter 11 petition filed by administrators purportedly appointed by its US lenders, in an escalation of an ownership dispute that has been playing out in the US, Chile, Ireland and Spain.

25 August 2023

Lloreda Camacho announces two new partners

Colombian firm Lloreda Camacho & Co has elevated two associates to its partnership, adding strength to its dispute resolution, insolvency and intellectual property practices.

08 August 2023

Several firms navigate debt restructuring for Brazil’s Azul

Three Shearman & Sterling LLP offices and Pinheiro Neto Advogados in São Paulo have assisted Brazilian airline Azul with its debt restructuring.

01 August 2023

GC of the Year: Thalles Paixão

Thalles Paixão, winner of LACCA’s General Counsel of the Year Award, skilfully navigated telecoms company Oi through its first judicial reorganisation, setting invaluable precedents for the practice of corporate recovery in Brazil. Speaking to LACCA, the GC unpacks the key successes of the process and explains how building a “close-knit” team of internal and external lawyers is the antidote to crisis.

31 July 2023

Brazil's Light proposes US$2.3 billion restructuring plan

Two months after launching judicial reorganisation proceedings in Rio de Janeiro, Brazilian utility company Light has submitted a restructuring plan to deal with its 11 billion reais (US$2.3 billion) debt and said it intends to seek recognition in the US.

19 July 2023

Judge Daniel Carnio Costa: “When I rest, I carry heavy rocks”

São Paulo bankruptcy judge and co-chair of the International Insolvency Institute’s judicial committee Judge Daniel Carnio Costa tells Latin Lawyer’s sister platform Global Restructuring Review about his central role in helping reform Brazil’s bankruptcy law, new tools he would like to see added to the statute book and how time spent studying in the US and Europe helped shape his innovative approach to restructuring.

28 June 2023

Baker McKenzie poaches esteemed LatAm team from Paul Hastings

Baker McKenzie LLP has nabbed a transactional partner trio – Michael Fitzgerald, Arturo Carrillo and Joy Gallup – and an of counsel from Paul Hastings LLP, strengthening its Latin American offering.

15 June 2023

Fourth time’s the charm: Samarco enters restructuring agreement

Two years and three plans down, Brazilian miner Samarco, its shareholders and creditors have finally reached a binding restructuring agreement that will need to be approved by a Brazilian bankruptcy court and recognised in New York.

12 June 2023

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