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A New York court has rejected a US$2.4 billion debtor-in-possession loan secured by Chile's LATAM from its shareholders, finding it had the effect of forcing an equity swap in a future restructuring.
15 September 2020
Specialists from the US, Brazil, Chile and Mexico met to discuss the allure of the Chapter 11 process for Latin American’s three largest airlines, Avianca, LATAM and Aeroméxico, as well as the potential pitfalls of forum shopping.
10 September 2020
A Cayman Islands court has approved a cross-border communications protocol for the first time, agreeing a process for working with courts in New York, Chile and Colombia on Chilean airline LATAM’s restructuring.
27 August 2020
A Chilean producer of copper cathodes is seeking recognition of its Santiago bankruptcy in New York, claiming its bank accounts have “come under attack” from creditors in Chile and the US.
17 August 2020
LATAM Airlines Brasil has joined in the New York Chapter 11 proceedings of its South American parent, as the group secured recognition of its US bankruptcy in Chile and Colombia.
10 July 2020
Venezuelan companies that were worth US$1 billion 20 years ago, can now be bought for US$55 million, according to GCG Advisors managing partner Jose Gonzales. “If you want to take the risk, there should be plenty of opportunity.”
01 August 2019
Edward Davis and Annette Escobar, of Sequor Law in Miami, discuss a massive Ponzi scheme in Chile involving the execution of asset recovery and cross-border recognition tools in multiple jurisdictions.
17 September 2018
An Australian court has become the latest to recognise Chilean liquidation proceedings in what is alleged to be the South American state’s first major Ponzi scheme dismantling, following courts in the US, UK and Isle of Man.
13 February 2018
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
Any Latin American debtor with a view to the “long game” knows that a Chapter 15 filing is the best way to achieve legal certainty - but a disparity in access to restructuring between big and small debtors has led to a decline in use of the instrument, according to speakers at the Latin Lawyer-GRR Live Restructuring Symposium in New York.
28 June 2017
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