Regional news: Argentina

Argentine cable and internet provider files Chapter 15 in New York

Argentine cable television and internet provider Supercanal has filed for Chapter 15 protection in New York, citing debts of over US$400 million.

22 June 2018

Argentine publisher files for Chapter 15 recognition in Florida to access Citibank account

One of the court-appointed liquidators of a “prominent” Argentine publishing company has filed for Chapter 15 recognition in Florida, in an effort to repatriate funds from a bank account held with Citibank in the US.

25 January 2018

PDG Realty files for judicial reorganisation with over 500 subsidiaries

Insolvency boutique E Munhoz Advogados is advising Brazilian homebuilder PDG Realty in a judicial reorganisation authorised by a São Paulo court this month, involving hundreds of subsidiaries and some 5.4 billion reais (US$1.75 billion) in debt.

17 March 2017

New York court rejects new pari passu challenge after Argentine holdout settlement

A New York court has declined to reissue an injunction that prevented Argentina from making payments on restructured sovereign bonds unless it also paid holdouts, saying it was a product of unique circumstances that no longer exist in light of a multibillion-dollar settlement last year.

20 February 2017

Arbitrator criticises panel for “evident failure” in Argentine bonds case

An arbitrator appointed by Argentina in a long-running dispute over its sovereign debt crisis has criticised his co-panellists for failing to produce a final award despite nearly two years of deliberations.

10 January 2017

New York court throws out appeal from Argentine holdouts

A group of individual bondholders who refused to enter into Argentina’s global sovereign debt settlement have lost in their bid to enforce claims against money held in New York, days before the funds go beyond the reach of the US courts.

21 October 2016

Argentine power utility files for Chapter 15 over out-of-court deal

A Buenos Aires power provider has filed for Chapter 15 recognition in New York as it seeks to protect refinancing of a balance sheet that has been in turmoil since 2001.

14 October 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

Argentina settles billions in holdout claims

Argentina has agreed to pay out almost US$8 billion to outstanding bondholders to settle some of the sovereign debt claims resulting from the country’s 2002 default.

01 March 2016

Argentina passes law to codify UN principles on sovereign debt

Argentina has passed a law adopting the recently agreed UN Basic Principles on Sovereign Debt Restructuring into law.

16 December 2015

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