Regional news: Argentina

Maxus Ch11 moves forward as liquidating trust reaches settlement with YPF and Repsol

Maxus Energy’s seven-year-long Chapter 11 is nearing an end, after the oil and gas company’s liquidation trust reached a US$570 million settlement with Argentina’s state-owned YPF and Spain’s Repsol over a two-decade long environmental protection dispute.

13 April 2023

INSOL International, Rio: mootness and matters of life and death

“The eggs have been so scrambled, there can be no remedy.” Panellists at INSOL International’s Latin America seminar discussed the pros and cons of the mootness doctrine in bankruptcy proceedings and warned that delays caused by appeals can become issues of life and death.

12 April 2023

Argentina vows to appeal loss in €1.33bn GDP-linked debt case

Counsel to the Republic of Argentina tells GRR it is planning to seek permission to appeal an English court decision ordering it to pay investors €1.33 billion for losses in the country’s gross domestic product-linked securities.

06 April 2023

White & Case defeats disqualification bid in YPF litigation

A US federal appeals court has rejected a bid by Argentine energy company YPF to disqualify White & Case from representing its adversary in a bankruptcy lawsuit, after the firm hired a lawyer who had been working on YPF’s defence team.

12 September 2022

Stoneway wins Ch11 confirmation as US Trustee objection overruled

Argentina-headquartered power plant group Stoneway Capital has won confirmation of its Chapter 11 plan after a New York court overruled an objection lodged by the US Trustee over third-party releases.

12 May 2022

Argentine province of Chaco restructures debt

DLA Piper’s New York and Buenos Aires offices have helped the Argentine province of Chaco restructure US$250 million worth of foreign debt.

06 July 2021

Stoneway noteholders prepare for US-Canada venue fight

Senior noteholders of Argentine power plant operator Stoneway Capital have asked a US court to let them contest the abandonment of its Canadian proceedings, less than a month after the company sought Chapter 11 protection in New York.

04 May 2021

Argentine power provider enters Chapter 11

Power plant operator Stoneway Capital Corporation has applied for Chapter 11 protection in the US and is likely to abandon its Canadian restructuring, after environmental claims filed against it in Argentina prevented the extension of a standstill agreement with creditors.

08 April 2021

Bondholders sue Buenos Aires, as Argentina’s Jujuy province restructures debt

White & Case is advising a group of bondholders who have filed a suit against the Argentine province of Buenos Aires over its continuing defaults, while Holland & Knight and DLA Piper have helped the province of Jujuy restructure US$210 million worth of foreign debt.

31 March 2021

Fourth time lucky: Cleary and Bruchou help YPF secure debt exchange

Argentine oil company YPF has secured approval from noteholders to exchange debt maturing next month, with Cleary Gottlieb and local firm Bruchou advising the company and a quartet of firms including Clifford Chance, Bomchil, Dechert and DLA Piper acting for creditor groups.

11 February 2021

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