Regional news: Latin America & Caribbean

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

Linklaters advising as another Chinese developer heads for default

Cayman Islands-incorporated property group China Aoyuan has said it is set to default on all its offshore debt, while Evergrande has announced plans to bring in Zhong Lun Law Firm to help with its high-profile restructuring efforts.

21 January 2022

Evergrande’s offshore bondholders threaten enforcement action

An ad hoc group of Evergrande’s offshore bondholders have brought in Harneys to advise on potential enforcement action after claiming they have had “no substantive engagement” with the Chinese property group despite repeated assurances.

20 January 2022

US court approves historic Puerto Rico restructuring

Puerto Rico has won approval for the first territorial debt restructuring in United States history with a plan that will see the island cut its public debt by about 80% and save more than US$50 billion in debt repayments.

19 January 2022

Genting Hong Kong enters provisional liquidation in Bermuda after German court defeat

Cruise operator Genting Hong Kong has applied to enter provisional liquidation in Bermuda where it is seeking to appoint Alvarez & Marsal and R&H Services Limited, after a German court declined to award it access to an US$88 million lifeline.

19 January 2022

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