Regional news: Latin America & Caribbean
Evergrande scraps scheme meetings
Evergrande’s scheme meetings have been postponed indefinitely after the long-beleaguered Chinese property developer announced it needed to reassess the terms of its restructuring.
25 September 2023
Privy Council stays Cayman winding-up in favour of arbitration
The Privy Council in London has held that a Cayman winding up petition against the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated arbitration clause.
25 September 2023
GRR Live Americas: could Cayman’s new regime override Gibbs?
Following a recent restructuring that saw an Irish scheme used to discharge English law-governed debt, a panellist at GRR Live in New York has argued that the Cayman Islands’ new restructuring officer regime could be used to override the rule in Gibbs.
22 September 2023
All female boutique expands in Cayman
A year after it launched in the Cayman Islands, all female insolvency, litigation and regulatory boutique Claritas has expanded with the addition of a former barrister who previously worked at Walkers in Singapore.
20 September 2023
Baker & Partners brings in new partner to grow BVI offering
A cross-border civil fraud and asset-recovery specialist has joined Baker & Partners in the British Virgin Islands, after working for the firm as a consultant for two months.
20 September 2023
Sunac seeks US recognition after Hong Kong scheme approval
Chinese real estate developer Sunac has sought Chapter 15 recognition in New York, one day after creditors voted to support a Hong Kong scheme dealing with US$9 billion of its offshore debt.
19 September 2023
HK court reaffirms COMI approach as ex-director challenges liquidators in the BVI
A Hong Kong court has granted interim relief to the local, COMI-appointed liquidators of China Properties Group against opposition from an ex-group director who claimed it would interfere with the jurisdiction of the courts in the British Virgin Islands, the place of incorporation of some of the group’s subsidiaries.
18 September 2023
Sunac creditors back offshore restructuring scheme
Creditors holding US$9 billion of struggling Chinese real estate developer Sunac’s offshore debt have voted to approve a Hong Kong scheme that will see them swap their claims for new notes, convertible bonds and equity.
18 September 2023
Conyers, Davis Polk called back for second “mission-critical” Digicel restructuring
Three years after it completed a landmark Bermudian scheme of arrangement and Chapter 15 process, Caribbean telecoms and entertainment group Digicel is back in court for a repeat, blaming economic and political conditions in Haiti for the collapse of a refinancing deal.
15 September 2023
GRR Live returns to New York next week
There is still time to secure a spot at GRR Live in New York, which returns next week with a packed schedule covering the ongoing crypto fallout, post-insolvency financings in Latin America, growing headwinds for cross-border recognition and the new Cayman Islands restructuring officer regime.
15 September 2023