Regional news: Latin America & Caribbean
Ecuador reaches debt deal with half of bondholders, others make counter-offer
Ecuadorean lawyers have reacted positively to a provisional debt relief agreement reached with holders of about half of the country’s sovereign bonds, as two other bondholder groups made a counter-offer.
14 July 2020
Hong Kong court blocks use of Singapore Mareva order as evidence
The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.
13 July 2020
LATAM's Brazil arm joins Chapter 11, as recognition granted in Chile and Colombia
LATAM Airlines Brasil has joined in the New York Chapter 11 proceedings of its South American parent, as the group secured recognition of its US bankruptcy in Chile and Colombia.
10 July 2020
Ogier promotes one in Guernsey, hires two in London
Offshore firm Ogier has promoted Bryan de Verneuil-Smith in its Guernsey dispute resolution team and hired Jeremy Snead and Anna Snead from Appleby in the Cayman Islands.
03 July 2020
Begbies Traynor brought in as Hong Kong-owned Wigan Athletic kicks off administration
English football club Wigan Athletic has fallen into administration in the UK, just weeks after it was taken over by Cayman-registered, Hong Kong-based Next Leader Fund.
03 July 2020
Mexican retailer files pre-pack Chapter 11 in New York
Mexican loan to own retailer Grupo Famsa has filed a pre-packaged Chapter 11 plan to restructure a single series of notes that were due in June, after covid-19 prevented it from refinancing them with further borrowing.
02 July 2020
Aeroméxico becomes latest LatAm airline to file Chapter 11 in New York
Mexico’s second-largest airline Aeroméxico has filed Chapter 11 proceedings in New York, following in the steps of Colombian-Panamanian airline Avianca and South America’s largest passenger carrier Latam.
02 July 2020
African Minerals secures scheme hearing in England
African Minerals, a Bermuda-registered mining company in administration in the UK, has won court approval to hold a scheme meeting to help it resolve a creditor conflict about whether it should pursue claims against a Chinese steel group.
29 June 2020
Digicel wraps up Bermudan scheme with Chapter 15 recognition in New York
Jamaica-headquartered telecoms group Digicel has finalised its US$7 billion restructuring after a New York court gave its Bermudan scheme full force and effect in the United States.
26 June 2020
BVI courts have power to grant Norwich Pharmacal orders despite Black Swan ruling
A British Virgin Islands court has ruled its power to grant Norwich Pharmacal orders to support foreign proceedings has not been affected by a recent appellate judgment that found Black Swan relief is no longer available in the BVI.
24 June 2020
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