Regional news: Colombia
Avianca, LATAM secure court approval for DIP financings
Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.
14 October 2020
Cayman court approves landmark cross-border communications protocol
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
LATAM's Brazil arm joins Chapter 11, as recognition granted in Chile and Colombia
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
Parent of historic retail group files for bankruptcy protection in France
The parent of historic French retail group Casino has filed for bankruptcy protection in Paris, blaming “persistent and massive speculative attacks against the group’s securities”.
24 May 2019
Pacific Exploration secures US approval of US$5.2 billion deal
Canadian-Colombian oil company Pacific Exploration has secured US court approval of its Ontario court-administered restructuring deal, clearing one of the final hurdles facing the company before it can implement a plan to manage its US$5.2 billion debt.
12 October 2016
Pacific Exploration sells stake in Brazilian oil field
The Ontario Superior Court of Justice has approved Canadian-Colombian oil company Pacific Exploration’s plan to sell its stake in exploration projects in Brazil as part of its restructuring efforts.
05 October 2016
Pacific Exploration gets go-ahead on debt deal
Canadian-Colombian oil company Pacific Exploration has won court approval in Canada for its restructuring deal with Canadian financier Catalyst.
24 August 2016
Brazilian energy company restructures in record time
Brazilian energy company Eneva has emerged from restructuring, 14 months after filing for judicial protection, a record timespan under Brazilian insolvency law.
15 July 2016
Chapter 15: Hong Kong and Canadian cases recognised in NY, Cayman filing lands in Dallas
Over the past two weeks, judges in New York have recognised foreign proceedings in Hong Kong and Canada under Chapter 15, while a further filing in the Wyly saga was registered in Texas.
13 June 2016
Pacific Exploration secures protection in Canada, looks to other jurisdictions
Distressed Canadian-Colombian oil company Pacific Exploration has been granted protection from creditors in Canada and will look to acquire further protection in the US and Colombia.
28 April 2016
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