Regional news: Latin America & Caribbean
Cayman court winds up Chinese menswear retailer after misconduct claims
Chinese menswear retailer Evergreen International has been wound up in the Cayman Islands after a court found it had failed to offer “even the outline of a restructuring proposal” despite hiring advisers in April last year.
17 January 2022
Mainland court recognises Hong Kong liquidators for first time
The liquidators of a Hong Kong-incorporated paper company have secured the historic recognition of their appointments in mainland China following a first-of-its kind ruling by the Shenzhen Intermediate People’s Court.
14 January 2022
Seadrill subsidiary completes pre-pack in 24 hours
Offshore rig operator Seadrill has come a step closer to completing its restructuring, after a group of its subsidiaries received court approval for a Chapter 11 pre-pack plan in just 24 hours, despite objections from the US trustee.
13 January 2022
Eversheds advising as HSBC chases defaulting Chinese developer
HSBC is seeking to recover millions of dollars from struggling Chinese property developer Fantasia Holdings after accusing it of defaulting under the terms of an interest rates swap agreement.
11 January 2022
Cleary assists as Mexico’s Pemex refinances debt
Mexico’s state-owned oil group Pemex and the country’s Ministry of Finance have relied on Cleary Gottlieb Steen & Hamilton for a refinancing that will reduce the company’s debt by US$3.2 billion.
11 January 2022
FTI Consulting hires from Protiviti in US, loses one in Cayman
FTI Consulting has hired a team of restructuring professionals from global consulting firm Protiviti, but lost another to Crowe Cayman.
07 January 2022
Offshore marine operator Ezion Holdings to wind down
Singapore-listed offshore marine operator Ezion Holdings says it plans to enter liquidation after an investment from a Malaysian energy infrastructure company fell through and it failed to complete a US$1.6 billion restructuring.
07 January 2022
Teneo buys KPMG’s Cayman and BVI restructuring arms
Global advisory firm Teneo, which last year bought Deloitte’s UK restructuring business, has acquired the Cayman and British Virgin Islands restructuring arms of KPMG.
06 January 2022
Trustee of Brazilian meat group seeks US help in liquidation efforts
The bankruptcy trustee of a Brazilian meat producer caught up in a widespread fraud has applied for recognition in New York to allow him to find and liquidate assets in the US – after he failed to find any cash in Brazil.
06 January 2022
Forbes Hare hires “industry leader” in the Cayman Islands
Former Conyers Dill & Pearman partner Ben Hobden has joined boutique law firm Forbes Hare in the Cayman Islands, bringing with him recent experience working on the Ocean Rig and Abraaj bankruptcies.
04 January 2022