Substantive consolidation in the upcoming Brazilian Bankruptcy Law reform

Partner Fabiana Solano and associate Thiago Dias Costa at Felsberg Advogados in Saõ Paulo discuss new rules on substantive consolidation of debtors’ assets in the draft bankruptcy bill pending before Brazil’s Congress. While the new rules offer a clear improvement to the current regime, the authors argue the terms under which they are proposed to apply may result in different interpretations and ongoing uncertainty.

20 May 2020

Covid-19 calls: FHB co-founder Hélène Bourbouloux in Paris

Featured in Covid-19 calls

“The first week was like a big storm.” Hélène Bourbouloux, the managing partner and co-founder of French boutique FHB, discusses how the pandemic could lead to the modernisation of France's insolvency regime, how private equity and hedge funds could provide solutions for struggling companies, and why she thinks the European Commission should relax its competition regulations.

07 May 2020

The world’s “most iconic” gym seeks Chapter 11 workout

International fitness chain Gold’s Gym is seeking Chapter 11 protection in Texas, claiming the covid-19 pandemic has left it unable to collect membership or ordinary franchising fees.

05 May 2020

Circumventing arbitration via a winding-up petition

After a long-awaited ruling by the Singapore Court of Appeal, Debby Lim of restructuring and insolvency boutique BlackOak and Arvin Lee of Wee Swee Teow in Singapore consider how creditors may seek to circumvent an arbitration agreement by means of a winding-up petition and how a debtor can combat such moves.

01 May 2020

Names to know in Brazil

Featured in Worked Out

GRR's guide to the firms and individuals you need to know in Brazil's restructuring market.

01 May 2020

Is the best yet to come?

Featured in Worked Out

Brazil’s infamous ‘car wash’ scandal has unexpectedly helped develop Brazil’s restructuring framework but there is still a lot of room for improvement. What still needs to change, and which tools would local practitioners like to see included in the new law? GRR finds out.

01 May 2020

Distressed investors on the horizon?

Featured in Worked Out

The uncertainty in the Brazilian restructuring market has made it difficult to attract local investors, but there are signs that foreign investments are on the uptick. There is still work to be done, and lawyers say fixing the country’s DIP financing legislation would be a good start.

01 May 2020

Banks and shareholders: where is the leverage?

Featured in Worked Out

Unlike in other jurisdictions, shareholders have historically played a powerful role in Brazilian restructurings, while a small band of the country’s banks have been able to sit outside negotiations, unwilling to accept haircuts. Are things going to change?

01 May 2020

Even the past is uncertain: Brazil Worked Out

Featured in Worked Out

For the latest of our ‘Worked Out’ features, GRR spoke to a crop of local practitioners about the lack of certainty in the Brazilian restructuring market and its side effects – from local banks trying to cut themselves out of restructurings to equity holders delaying filing before the country’s courts. Will proposed changes to the law bring more predictability? GRR investigates.

01 May 2020

Covid-19: Spain introduces second round of insolvency measures

José Carles and Carlos Cuesta, partners at Spanish insolvency and restructuring boutique Carles Cuesta, examine the second round of insolvency-related measures introduced in Spain, one of the countries worst-hit by covid-19.

30 April 2020

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