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

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