Regional news: Brazil

BMA hires from Tauil & Chequer

Brazil's BMA - Barbosa, Müssnich, Aragão has bolstered its restructuring and insolvency group with a partner from Mayer Brown’s associated firm Tauil & Chequer Advogados.

04 November 2021

Prosafe schemes sanctioned in Singapore

Norwegian vessel operator Prosafe has won court approval for its two schemes of arrangement in Singapore, freeing up the road ahead for the group to progress a Norwegian restructuring process it launched last month.

19 October 2021

Oslo-listed Prosafe seeks moratorium extension in Singapore

Norwegian vessel operator Prosafe has applied to extend its Singaporean moratorium while its scheme proceedings rumble on.

26 August 2021

Felsberg boosts its insolvency finance capabilities

Felsberg Advogados has hired a partner from fellow Brazilian firm KLA Advogados, strengthening its banking and capital markets practices.

03 August 2021

Brazilian bank’s trustee seeks recognition to probe possible offshore transfers

The judicial administrator of a Brazilian bank whose former controllers stand accused of siphoning off cash through a voucher scheme, has sought recognition in Florida to investigate and pursue possible “concealed” assets.

30 July 2021

Samarco creditors oppose restructuring plan

International unsecured creditors of Brazilian miner Samarco Mineração are objecting to its judicial restructuring plan, accusing it of placing the interests of shareholders ahead of creditors.

16 July 2021

Schahin administrator targets banks in New York unjust enrichment suits

The Brazilian administrator of oil and gas conglomerate Schahin is suing a host of international banks in New York, accusing them of recouping loans at the expense of other creditors shortly before its collapse.

15 July 2021

Distressed investor files Ch11 to block Brazil and Cayman Islands suits

A group of distressed investment funds organised under the laws of Delaware and the Cayman Islands have sought bankruptcy protection in New York, faced with “meritless foreign litigations” that have stopped them paying out their assets.

07 July 2021

Samarco tables US$10 billion restructuring plan

One month after securing Chapter 15 recognition in New York, Brazilian miner Samarco Mineração has proposed a judicial reorganisation plan that could see unsecured creditors take an 85% haircut on their claims.

11 June 2021

Brazil adopts JIN guidelines

Brazilian restructuring lawyers have welcomed a resolution by the country’s National Council of Justice adopting the Judicial Insolvency Network’s guidelines for cooperation and communication between foreign insolvency courts.

24 May 2021

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