Features

NEW YORK: Brazil’s bankruptcy law must evolve as restructuring cases skyrocket

Legal uncertainty, corruption investigations and an undiversified financial system continue to affect clients’ confidence in Brazil’s 10-year-old bankruptcy laws, but a growing body of jurisprudence is gradually ironing out some of the kinks in the restructuring process, agreed lawyers at the Latin Lawyer - GRR Restructuring Summit in New York last month.

05 July 2016

Is French law about to become a reference for the European common approach on rescue proceedings?

Partner Céline Domenget Morin and associate Romain de Ménonville from White & Case in Paris discuss the different types of amicable rescue proceedings in France and argue that the European Commission should look to them as it seeks to establish an efficient and effective common insolvency framework.

29 June 2016

LONDON: Lawyers warn of proposed new US intercompany debt rules

Newly proposed intercompany debt regulations in the US could result in many debt instruments between related parties being characterised as equity, lawyers warned at a recent seminar, as they explored the impact of the potential changes on cross-border transactions.

27 June 2016

Top São Paulo judge urges less procedural approach to restructuring

Daniel Carnio Costa, a bankruptcy judge at the First Bankruptcy Court of Brazil in São Paulo, called on his colleagues to ensure the social and economic benefits of corporate restructuring take precedence over the interests of the creditors and debtors, in a keynote speech at the Latin Lawyer - GRR Restructuring Summit earlier this month.

23 June 2016

NEW YORK: Potential PDVSA default could resemble Argentina’s protracted holdout battle

Panellists speaking at the first Latin Lawyer - GRR Restructuring Summit held in New York earlier this month were split over whether Venezuelan state-owned oil company PDVSA is on track for an imminent default: but there was broad agreement that the legal aftermath will share many similarities with Argentina’s highly litigious 15-year sovereign debt battle.

20 June 2016

NEW YORK: Distressed M&A deals in Latin America need cleaner strategies to soothe creditors

Lawyers representing debtors in distressed M&A deals in Latin America need to provide clearer communication strategies and valuation plans to avoid troubling creditors, guests at the first Latin Lawyer – GRR Restructuring Summit in New York heard last Monday.

16 June 2016

READING: Comparing bank resolution regimes in the US & Europe

The traditional dichotomy between banking resolution and corporate resolution is obsolete, said speakers at a conference at the University of Reading, as they considered the practical, political and legal challenges that have distorted the development of a new regulatory landscape for financial institutions post-2008.

15 June 2016

NEW YORK: DIP financing has broken ground in Latin America but remains “dysfunctional”

A number of recent high-profile cross-border restructurings have brought changes to the way Latin American lawyers approach debtor-in-possession financing, but applicable laws remain “dysfunctional” according to a panel at Latin Lawyer – GRR Restructuring Summit in New York last Monday.

10 June 2016

Argentina and its holdouts: counsel list

GRR can not attempt to list all the many lawyers and firms – past and present – who have worked for the hundreds of holdouts, interested parties, intervenors and amicus curiae in the Argentina-related cases before the US District Court for the Southern District of New York. So here, we try to assemble a list of counsel for some of the more recognisable claimants.

07 June 2016

Argentina: battle of the bonds

Argentina reentered the capital markets in April after 15 years in the cold, locked in protected negotiations and court battles arising from the country's US$132 billion public debt default in 2001. Partnering with our sister publication Latin Lawyer, GRR offers a history of one of the 21st century's most controversial and hard-fought cases.

07 June 2016

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