Regional news: Colombia

Latin American airline Avianca has reached two major milestones in its restructuring after settling disputes relating to a pre-petition sale of credit card receivables and getting the green light to enter new aircraft leases to redevelop its fleet.

17 March 2021

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

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 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

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

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

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

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 Eneva has emerged from restructuring, 14 months after filing for judicial protection, a record timespan under Brazilian insolvency law.

15 July 2016

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