Regional news: Brazil

Constellation’s BVI subsidiary seeks second US recognition of mirroring scheme

A Caribbean subsidiary of global oil group Constellation has again requested US recognition of a British Virgin Islands “soft-touch” provisional liquidation, after the wider group restructured in Brazil for the second time in as many years.

09 November 2022

Davis Polk advising as Brazilian engineering giant files Ch15

One of Latin America’s largest engineering groups has sought recognition of its Brazilian restructuring in New York to stay a claim brought by Missouri-headquartered UMB Bank, which is seeking to recover over US$40 million owed under notes that matured last year.

02 November 2022

Mina Tucano secures Ch15 recognition, Canadian parent converts bankruptcy

Gold miner Mina Tucano's Brazilian judicial reorganisation has been recognised in New York, as its Canadian parent converted its own bankruptcy to Companies Creditors Arrangement Act proceedings – but a creditor now appears to seeking to place the parent back in bankruptcy.

19 October 2022

Lefosse adds trio of partners in São Paulo

Brazilian firm Lefosse has bolstered its insolvency offering with the addition of Cescon Barrieu Flesch & Barreto’s former restructuring head Fábio Rosas and two other partners in São Paulo.

18 October 2022

White & Case, Bumachar advising as gold miner files in Brazil, Canada and US

UPDATED: Gold miner Mina Tucano has entered judicial reorganisation in Brazil and sought Chapter 15 recognition in New York, while its parent has filed for bankruptcy in Canada – with White & Case, Bumachar Advogados Associados, McCarthy Tetrault and Alvarez & Marsal advising.

09 September 2022

Mayer Brown announces tie-up with French boutique, adds partner in Brazil

Expanding its restructuring offering across Europe and Latin America, Mayer Brown has announced a collaboration with French boutique Santoni & Associés in Paris and hired a restructuring partner to its associated firm in São Paulo.

08 July 2022

Brazil’s Petroserv secures English scheme sanction

Brazilian oil drilling group Petroserv Marine has secured sanction of its English scheme of arrangement, after settling a notes dispute with a company owned by its founders.

23 June 2022

Samarco creditors reject third restructuring plan, will file their own

Creditors of Brazilian miner Samarco Mineração have rejected a third restructuring plan that the company submitted before a court in Belo Horizonte earlier this year – and will now file their own “historic” alternative.

21 April 2022

Lefosse recruits from E Munhoz in Brazil

Brazil’s Lefosse has boosted its restructuring department by hiring a partner from local boutique E Munhoz Advogados.

18 March 2022

Third time lucky? Samarco submits amended plan

Creditors of Brazilian miner Samarco Mineração are considering a third amended plan that the beleaguered company submitted before a court in Belo Horizonte last week, with a vote now postponed until April – but they say the differences compared to its previous plan are “minimal”.

14 March 2022

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