Regional news: Latin America & Caribbean
Pacific Exploration secures protection in Canada, looks to other jurisdictions
Distressed Canadian-Colombian oil company Pacific Exploration has been granted protection from creditors in Canada and will look to acquire further protection in the US and Colombia.
28 April 2016
Norton Rose, Proskauer and Garrigues advise Pacific Exploration on restructuring
Canadian-Colombian oil company Pacific Exploration has reached a deal with an investment group to restructure most of its US$5 billion debt, advised by Norton Rose Fulbright in Canada, Proskauer Rose in the US and Garrigues in Colombia.
20 April 2016
Oil company to negotiate restructuring with Canadian financier despite Colombian protests
Canadian-Colombian oil company Pacific Exploration has announced plans to negotiate a restructuring deal with a Canadian investment group, despite attempts by shareholders to enlist Colombia’s market regulator to block the deal.
15 April 2016
Mining company wins US$1.4 billion award in arbitration financed by debtor-in-possession lender
A Canadian mining company has won a US$1.4 billion arbitral award against Venezuela in a claim funded by its debtor-in-possession lender, the private equity fund Tenor Capital.
08 April 2016
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
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