Regional news: Latin America & Caribbean

From Chinese debt to litigation funding – key disputes trends emerging in the Cayman Islands in 2022

Partner Adam Crane and associate Nicosia Lawson at Baker & Partners in the Cayman Islands discuss some of the key developments that will likely impact the local disputes industry in 2022 and beyond: from the Chinese debt bubble to a new statutory framework for litigation funding, and changes afoot in Cayman’s restructuring regime and judiciary.

11 February 2022

BVI court confirms directors liable in Dutch-Chinese joint venture’s liquidation

A British Virgin Islands court has confirmed that company directors who fail to ensure their duties are being carried out for a “proper purpose” may be liable for restitution, in a case brought by the local liquidators of a Dutch-Chinese joint venture vehicle.

09 February 2022

Hong Kong liquidators obtain pre-recognition discovery relief in Miami

A Hong Kong headquartered, British Virgin Islands-incorporated company’s provisional liquidators have obtained emergency relief in the US to conduct discovery on a property it used to own in Miami, which they allege has been wrongfully transferred at least three times in the last three years.

08 February 2022

Cayman court approves liquidators' contested remuneration

A Cayman court has allowed a contested remuneration request brought by the liquidators of a US investment firm's local subsidiary, against a backdrop of receivership proceedings in California and a US wire fraud suit against the investment fund’s former CEO.

08 February 2022

HFW launches BVI office with Lennox Paton acquisition

Holman Fenwick Willan says it is “uniquely positioned” to assist clients with litigation in London, Hong Kong, Shanghai and the British Virgin Islands, after acquiring Bahamian disputes specialist Lennox Paton’s BVI office.

07 February 2022

US judge permits LATAM Airlines to solicit creditor votes

South America’s largest airline LATAM has secured a partial victory over objecting creditors after a US judge expressed a willingness to allow it to solicit votes on its Chapter 11 plan, pending a hearing next week over a contested backstop credit agreement.

02 February 2022

Last-minute deals pave way for Aeroméxico Chapter 11 plan approval

Mexico’s second-largest airline has secured approval of its restructuring plan after reaching last-minute agreements with objecting creditors, paving the way for Apollo Global Management to become its largest shareholder.

31 January 2022

Exit financing helps Brazil's Moreno complete judicial reorganisation

Felsberg Advogados has helped Brazilian sugar-ethanol company Grupo Moreno implement a judicial recovery plan and pay off a debt pile of 1 billion reais, with one of the first exit financings in Brazil.

28 January 2022

China Aoyuan sells assets in Canada

Defaulting real estate developer China Aoyuan has agreed to sell some of its properties in Canada to repay loan facilities, while Evergrande says it aims to come up with a restructuring plan in the next six months.

27 January 2022

Internet gambling investor loses BVI liquidation appeal

An investor in an internet gambling business will continue to face liquidation in the British Virgin Islands, after an appeals court rejected claims its winding up was the result of an actionable conspiracy brought for an improper purpose.

26 January 2022

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