Regional news: Latin America & Caribbean

BVI courts have power to grant Norwich Pharmacal orders despite Black Swan ruling

A British Virgin Islands court has ruled its power to grant Norwich Pharmacal orders to support foreign proceedings has not been affected by a recent appellate judgment that found Black Swan relief is no longer available in the BVI.

24 June 2020

Hong Kong-listed Agritrade enters “light touch” administration in Bermuda

The Supreme Court of Bermuda has appointed “light touch” administrators over Hong Kong-listed commodity trader Agritrade Resources (ARL), and asked courts in Singapore and Hong Kong to recognise the decision.

18 June 2020

BVI court grants retrospective permission for English third-party debt order

A British Virgin Islands court has retrospectively allowed the co-owner of a locally-registered company in liquidation to apply for a third-party debt order in England.

16 June 2020

Venezuela’s debt restructuring: predictable uncertainties – part 2

In the second part of his feature examining the “predictable uncertainties” in any eventual restructuring of Venezuela’s debt, Steven Kargman of Kargman Associates looks at the role China and Russia have to play as major bilateral creditors of Venezuela, and details the importance of oil price projections for any future debt sustainability analysis.

11 June 2020

Venezuela’s debt restructuring: predictable uncertainties – part 1

In the first of a two-part feature, Steven Kargman, founder and president of the eponymous New York-based international restructuring advisory firm Kargman Associates, examines the “predictable uncertainties” that will be key to any future Venezuelan debt restructuring.

10 June 2020

Hong Kong judge targets “unrealistic and unhelpful” Mainland business groups

A Hong Kong judge has criticised a Chinese cinema group that tried to restructure its debts in a “piecemeal” way in the Mainland without including its Hong Kong-listed holding company.

02 June 2020

US removes sanctions on struggling Swedish oil refiner as PDVSA divests

Swedish oil refiner Nynas said it hopes to exit its administration process after the US announced it had removed sanctions imposed on the company last year under the Venezuela Sanctions Regulations.

14 May 2020

English court prevents service on Panamanian investor

An English court has barred the liquidator of a local investment vehicle from serving a preference application on Panama-incorporated investor Holyoak, finding his claim did not have a “reasonable prospect of success”.

15 April 2020

Government-backed Bermudan property developer obtains stay in New York

A New York court has granted emergency Chapter 15 relief to a Bermudan property developer that defaulted on two tranches of loans backed by the territory’s government.

31 March 2020

“The epitome of a cross-border restructuring”: Noble Unpacked

Featured in Unpacked

In the latest in GRR’s Unpacked series, the practitioners tasked with solving a US$3.5 billion multi-jurisdictional puzzle discuss how frustrated shareholders, regulatory interventions and a disgruntled ex-employee’s blog made Noble’s restructuring one for the ages.

20 February 2020

Get unlimited access to all Global Restructuring Review content