Regional news: Latin America & Caribbean
TozziniFreire welcomes back restructuring partner from Itaú
Brazilian firm TozziniFreire Advogados has re-hired an in-house lawyer from Itaú BBA as a restructuring partner, after five years at the bank.
31 March 2023
Oi’s new proceedings secure US and UK recognition
Courts in the US and England have within days of each other recognised telecoms group Oi’s new Brazilian reorganisation proceedings, filed just over two months after it completed a long-running, multi-jurisdictional restructuring in December.
30 March 2023
Sidley and Linklaters take roles as Sunac strikes deal with creditors
Chinese real estate developer Sunac China Holdings has entered a restructuring support agreement with an ad hoc group of offshore creditors to deal with US$9 billion of debt.
29 March 2023
Antigua’s automatic stay is constitutional, appeal court rules
An amendment to Antigua and Barbuda’s Companies Act that imposes an automatic stay on judicial action against companies that enter administration is not unconstitutional, a Caribbean appeal court has ruled.
24 March 2023
Maples appoints Cayman duo as global practice co-leaders
Maples Group has appointed two of its long-time Cayman partners, James Eldridge and Caroline Moran, to lead its global dispute resolution and insolvency practice, following the retirement of the former global head Aristos Galatopoulos in December.
24 March 2023
FTX sues Bahamian liquidators over property ownership
Collapsed crypto exchange FTX is suing the liquidators of its Bahamian affiliate FTX Digital Markets in response to what it says are “serial threats” to try and relocate the group’s Chapter 11 bankruptcy to The Bahamas.
22 March 2023
Rockley Photonics secures first plan sanction under new Cayman RO regime
Medical technology company Rockley Photonics has received court approval for the first successful restructuring under the new Cayman restructuring officer regime, hours after a New York court approved a parallel Chapter 11 plan in the face of opposition from shareholders.
21 March 2023
Evergrande reaches deal with offshore bondholders
The Hong Kong High Court has adjourned a winding up petition against Chinese real estate giant Evergrande for the third time, after the group revealed it has reached a restructuring deal with its offshore bondholders.
20 March 2023
Cayman fund liquidators appeal in case of “great importance” to Ch15
The foreign representatives of a bankrupt Cayman feeder fund have asked the Eleventh Circuit Court of Appeals to overturn a US federal receiver’s distribution plan, arguing a lower court’s “minimalist construction of comity” defied 140 years of precedent.
14 March 2023
Saudi businessman defeats BVI liquidators’ US$3.6 billion claim
Liquidators from Krys Global in the British Virgin Islands have failed in their bid to recover US$3.6 billion in equitable compensation from a Saudi hotel magnate, after an English court said their pleadings “put the cart before the horse” - but they did win compensation for misappropriation of shares.
08 March 2023