Regional news: Latin America & Caribbean

Luxembourg fund recovers €1.3 million from “bankruptcy remote” Lehman company

A Luxembourg investment company has been allowed to redeem €1.3 million from a “bankruptcy remote” orphaned entity incorporated by Lehman Brothers in Ireland, after a decision by the England and Wales High Court.

06 April 2016

Metals miner fights to keep Jamaican subsidiary's bankruptcy in the US

US mining and metallurgy company Noranda Aluminium is denying suggestions by one of its creditors that the bankruptcy proceedings of its Jamaican subsidiary do not belong in a Missouri court.

04 April 2016

Aman Resorts shareholders settle dispute in London, as acquisition vehicle faces liquidation in New York

UPDATED: Russian billionaire Vladislav Doronin has announced the settlement of an acrimonious shareholders’ dispute over luxury hotels chain Aman Resorts with his former partner, American entrepreneur Omar Amanat, which was playing out in a UK court - as a vehicle used in acquiring the chain was made to consent to an involuntary Chapter 11 petition in New York.

08 March 2016

Fishing group appoints restructuring officer after deal ends Hong Kong and Cayman liquidations

Industrial fishing company China Fishery Group has appointed a new chief restructuring officer after reaching a deal with lenders to sell its Peruvian unit, bringing an end to liquidation proceedings in the Cayman Islands and Hong Kong.

08 March 2016

Argentina settles billions in holdout claims

Argentina has agreed to pay out almost US$8 billion to outstanding bondholders to settle some of the sovereign debt claims resulting from the country’s 2002 default.

01 March 2016

Metals miner files for Chapter 11 citing Jamaican arbitration ruling

US mining and metallurgy company Noranda Aluminium Holding Corporation (NAHC) has filed for Chapter 11 bankruptcy, citing an ongoing arbitration with the government of Jamaica as a key reason for its distress.

19 February 2016

Isle of Man court grants use of documents in US and Caribbean

A court in the Isle of Man has allowed four US special purpose vehicles to use information revealed in a Manx disclosure and freezing order last year in proceedings for the repayment of debts in the US and Caribbean.

19 February 2016

Bahamian court dismisses foreign liquidators’ petition in repeat of Baha Mar

The Bahamian Supreme Court has declined to recognise the Cayman Islands-based liquidation proceedings of a local bank as foreign main proceedings under common law, in a decision that takes a similar approach to last year’s Baha Mar.

19 February 2016

Delaware court interprets BVI law in Chapter 11 case

A US bankruptcy court in Delaware has made a ruling on a point of British Virgin Islands law to end an 18-month legal dispute holding up the Chapter 11 restructuring of a US telecoms group.

08 February 2016

Hong Kong court rejects wind up in Cayman KPMG competence dispute

A Hong Kong court has dismissed a winding-up petition for a foreign company because it was already being liquidated in the Cayman Islands, rejecting the petitioner’s “entirely fanciful” allegations that Cayman-appointed liquidators KPMG would fail to deal with the matter speedily.

28 January 2016

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