Regional news: Latin America & Caribbean

Hong Kong court urges consistency in recognition requests

A Hong Kong court has recognised the Bermudian “soft-touch” provisional liquidations of a metals company and a commodities trader, but has asked for consistency from foreign officeholders and courts seeking assistance.

08 September 2020

Ecuador completes US$17.4 billion debt restructure

With help from Hogan Lovells, Ecuador has completed a deal to restructure its US$17.4 billion international debt pile, marking one of the first applications of collective action clauses in a capital markets transaction.

04 September 2020

Creditors approve ED&F Man’s UK scheme

International commodity trader ED&F Man has secured unanimous backing for its UK scheme of arrangement during two creditors’ meetings.

02 September 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 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

Creditors to vote on amendments to Oi’s landmark reorganisation

Brazilian telecoms company Oi has presented creditors with amendments to its landmark US$20 billion restructuring plan that was approved in 2019, in a bid to get higher offers on assets and extend new loans.

25 August 2020

Odebrecht subsidiary seeks court sanction for extrajudicial restructuring

The construction services arm of Brazil’s Odebrecht has submitted an extrajudicial restructuring of US$3.3 billion worth of notes to a court in São Paulo for final approval.

25 August 2020

Campbells hires new managing partner in Hong Kong

Offshore law firm Campbells has hired Shaun Folpp from Mourant to take over the management of its Hong Kong office.

21 August 2020

BVI court refuses to discharge freezing order against Chinese cinema owner

A British Virgin Islands court has refused to set aside a freezing order against the Chinese owner of insolvent cinema group SMI Holdings, addressing a recent appeal decision on Chabra injunctions.

18 August 2020

COMI not in place of registration by default, English court rules

An English court has issued a winding-up order against a Maltese-registered oil company, after finding its centre of main interests was in the UK rather than its place of registration by default.

17 August 2020

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