Regional news: Latin America & Caribbean

Gibraltar court throws out St Vincent conspiracy claim

A Gibraltarian businessman who accuses his former lawyer of liquidating his company in the Caribbean to frustrate breach of legal privilege proceedings against her, will not have his claims heard locally, after a court found it lacked jurisdiction to hear his conspiracy tort.

20 October 2020

Failure to notify floating charge holder does not void administration, English court rules

An English court has ruled that a failure to notify a floating charge holder of an administration does not invalidate the proceedings, after considering conflicting case law on the issue.

16 October 2020

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

BVI court blocks receivers from replacing Japanese company’s directors

The receivers of a BVI investment company have been prevented from replacing the directors of its Japanese subsidiary, after a local court found a Singaporean investor could not apply on their behalf.

14 October 2020

AHAB and Saad settle multi-billion-dollar fraud claims

Saudi conglomerates Ahmad Hamad Al-Gosaibi & Brothers and Saad Group have settled billions of dollars’ worth of fraud claims against each other, following a decade-long dispute in the Cayman Islands.

13 October 2020

Altair Asia: Cayman court declines to follow Hong Kong ruling

In a rare example of judicial comity being sidelined in a cross-border insolvency, the Cayman Islands Grand Court has declined to follow an earlier ruling of the High Court of Hong Kong. Harneys partner Jessica Williams and associate Mark Burrows examine the case of Altair Asia.

13 October 2020

Kobre & Kim hires Walkers insolvency head in Hong Kong

Kobre & Kim has hired the head of Walkers’ insolvency and dispute resolution group in Hong Kong, a partner with credits in the Saad liquidation and the Winsway restructuring.

08 October 2020

Condor seeks recognition of German proceedings in US and Mexico

German airline and former Thomas Cook subsidiary Condor is seeking Chapter 15 recognition of its protective shield proceedings in Frankfurt to stop a trio of litigations in the US that it says contravene German law.

05 October 2020

“Open for business”: BVI court approves third party litigation funding

In the first written judgment of its kind, a British Virgin Islands court has approved third party funding agreements for litigation and other liquidation fees and expenses in relation to a multinational Ponzi scheme.

01 October 2020

New York court receives recognition requests for two Bermudian proceedings

The provisional liquidators of a Bermuda-incorporated investment holding company and the liquidators of a Bermudian water company are seeking Chapter 15 recognition of their appointments, in separate proceedings filed in New York in September.

01 October 2020

Get unlimited access to all Global Restructuring Review content