Regional news: Argentina

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

Argentina's Córdoba restructures its international debt

The Argentinian city of Córdoba has hired teams from Hogan Lovells in New York and Houston and Córdova Francos Abogados in Buenos Aires to restructure US$150 million worth of foreign debt, following in the footsteps of the federal government and the province of Mendoza.

25 November 2020

Argentine energy provider amends Canadian restructuring

A Buenos Aires-headquartered power plant producer has modified the terms of a restructuring it is carrying out under the Canada Business Corporations Act, ahead of an upcoming creditors vote.

23 November 2020

The game changer for Argentina: collective action clauses

Lawyers who worked on Argentina’s US$65 billion international debt restructuring reflect on the challenges and achievements of the deal, highlighting the activation of collective action clauses as a key ingredient for its successful outcome.

28 September 2020

Shearman and Bennett Jones advise as power plant builder enters RSA

Sherman & Sterling and Bennett Jones have helped an Argentina-headquartered power plant producer enter a deal with an ad hoc group of noteholders, to be implemented under the Canada Business Corporations Act.

24 September 2020

Sovereign debt restructuring in times of stress: lessons from Ecuador and Argentina

Hogan Lovells partner Evan Koster and associate Juan Moreno investigate the use of aggregated collective action clauses in the recent restructurings of Ecuador and Argentina, describing them as an “important development” in the restructuring process of sovereigns.

23 September 2020

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