Regional news: Latin America & Caribbean

Community round-up: practice heads on the move in the US and UK

Bayard has welcomed a new restructuring head in Delaware while Simmons & Simmons’ former practice leader has departed the firm in London, Appleby has recruited in key offshore jurisdictions, a Morgan Lewis partner has joined Greenberg Traurig in Boston and one of GRR’s Women in Restructuring representatives has moved to Simpson Thacher in London.

06 October 2023

Atento at ‘pivotal moment’ as English convening hearing looms

New York-listed business process outsourcing firm Atento is set to ask the English High Court to convene meetings for creditors to vote on a restructuring plan after it said it had met a “key milestone” by securing backstop commitments for US$76 million in exit financing.

05 October 2023

Samarco moves forward with plan enforcement in New York

Counsel to South American miner Samarco tells GRR it has secured a New York court’s approval to enforce its long-awaited Brazilian reorganisation plan in the US.

05 October 2023

First Circuit says Congress should deal with "woeful predicament" in Puerto Rico case

Puerto Rico’s governor and the speaker of its lower house have failed to persuade a US appeals court to reconsider its decision to uphold the right of a federally appointed oversight board to block a labour law passed by the territory's elected government, despite one judge finding the situation “democratically abhorrent”.

04 October 2023

Bermuda-incorporated metal miner secures Hong Kong scheme

A Chinese metal miner has secured sanction of a Hong Kong scheme that will see its unsecured creditors swap their debt for equity, three years after the group withdrew from a separate Bermudian provisional liquidation process.

03 October 2023

Chinese developer Skyfame plans parallel Bermudian-HK schemes

Hong Kong-listed Skyfame Realty has struck an agreement with creditors to restructure through parallel Bermudian and Hong Kong schemes.

02 October 2023

Evergrande scraps scheme meetings

Evergrande’s scheme meetings have been postponed indefinitely after the long-beleaguered Chinese property developer announced it needed to reassess the terms of its restructuring.

25 September 2023

Privy Council stays Cayman winding-up in favour of arbitration

The Privy Council in London has held that a Cayman winding up petition against the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated arbitration clause.

25 September 2023

GRR Live Americas: could Cayman’s new regime override Gibbs?

Following a recent restructuring that saw an Irish scheme used to discharge English law-governed debt, a panellist at GRR Live in New York has argued that the Cayman Islands’ new restructuring officer regime could be used to override the rule in Gibbs.

22 September 2023

All female boutique expands in Cayman

A year after it launched in the Cayman Islands, all female insolvency, litigation and regulatory boutique Claritas has expanded with the addition of a former barrister who previously worked at Walkers in Singapore.

20 September 2023

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