Regional news: Latin America & Caribbean
Chilean copper miner seeks US recognition following creditor “attacks”
A Chilean producer of copper cathodes is seeking recognition of its Santiago bankruptcy in New York, claiming its bank accounts have “come under attack” from creditors in Chile and the US.
17 August 2020
Speedcast agrees sale to support Chapter 11 exit
Australian satellite communications group Speedcast has agreed to sell its business to a US private equity firm, in a deal that would see disgruntled shareholders lose out when it emerges from bankruptcy.
14 August 2020
Cayman court curtails freezing order against China’s answer to Starbucks
A Cayman court has declined to extend a worldwide freezing order against China’s Luckin Coffee chain, which entered provisional liquidation in July after confirming it misstated its 2019 accounts.
13 August 2020
Bermuda-registered oil services company files Chapter 11 in New York
A Bermuda-registered oil and gas services company with operations in the North Sea and West Africa has sought Chapter 11 protection after failing to reach a deal with its Scandinavian lenders.
13 August 2020
Clifford Chance, A&O and Akin Gump advising on commodity trader’s UK scheme
An international commodity trader has secured court approval to convene meetings for its creditors to vote on a UK scheme of arrangement, with Clifford Chance, A&O and Akin Gump taking roles.
11 August 2020
Mexican retailer enters bankruptcy in Mexico, after Chapter 11 derailed
Mexican loan to own retailer Grupo Famsa has applied for bankruptcy protection in Mexico along with Chapter 15 recognition, after the loss of its banking licence derailed its Chapter 11 process.
07 August 2020
Hong Kong appellate court restates requirements for winding-up foreign companies
The Hong Kong Court of Appeal has upheld a lower court’s refusal to block the winding-up of a mainland Chinese conglomerate – but overturned its ruling on the requirements for winding-up foreign companies.
07 August 2020
“Undesirable outcome”: Cayman court dismisses winding-up petition despite Hong Kong order
A Cayman Islands court has dismissed a winding-up petition against a locally incorporated investment manager, despite a Hong Kong court issuing a winding-up order against the guarantor of the company’s debt.
06 August 2020
Argentina’s debt restructuring likely to get approval, say lawyers
Argentine lawyers are buoyant that the government’s two-day old deal with holders of the country’s foreign bonds will get the required approval numbers, and mark the country’s return to international capital markets.
06 August 2020
“Light-touch” JPLs appointed over Chinese fertiliser group in three jurisdictions
Courts in the Cayman Islands, Bermuda and the British Virgin Islands have appointed “light touch” joint provisional liquidators over Chinese fertiliser company Century Sunshine Group.
05 August 2020
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