Regional news: Latin America & Caribbean

Property developer Logan Group unveils offshore restructuring plan

A Hong Kong court has adjourned liquidation proceedings against Chinese property developer Logan Group for four weeks, after the group unveiled an offshore debt restructuring plan.

15 January 2024

China Aoyuan secures Hong Kong scheme sanction and Ch15 protection

Struggling Chinese real estate developer China Aoyuan has secured US recognition of two Hong Kong schemes, hours after winning court approval in Hong Kong following a contested sanction hearing.

11 January 2024

Creditors’ committee fails to reimpose automatic stay in Eletson Chapter 11

A committee of unsecured creditors in Greek shipping group Eletson’s Chapter 11 restructuring has failed to reinstate an automatic stay against the debtor, which was lifted last year to allow it to pursue an arbitration.

10 January 2024

R&H Restructuring joins HLB Global network

Caribbean boutique R&H Restructuring has joined HLB Global, an international network of independent advisory and accounting firms, which has members across more than 150 countries in five continents.

09 January 2024

Global medical group agrees UK administration sale, faces Cayman liquidation

Four days after UK subsidiaries of Nasdaq-listed medical group LumiraDx entered administration in England and agreed to sell their assets to Swiss drugmaker Roche, creditor BioPharma Credit has filed winding up proceedings against the group's Cayman holding company.

08 January 2024

Moldovan group completes BVI scheme to fund enforcement actions against Kazakhstan

A Moldovan oil group has closed a contested British Virgin Islands scheme and obtained Chapter 15 recognition in a restructuring designed to help it fund enforcement of an arbitral award it won against Kazakhstan over a decade ago.

08 January 2024

Liquidators survive challenge from Hong Kong shipper’s shareholders

Two contributories of a shipping joint venture have failed to persuade a Hong Kong court to replace its British Virgin Islands-based liquidators, who are investigating “questionable transactions” overseen by the contributories’ controller.

05 January 2024

White & Case helps Suriname implement “novel” Eurobond restructuring

White & Case has advised the government of Suriname on the successful restructuring of two Eurobonds using a “novel” value recovery instrument based on the forthcoming development of offshore oil fields in the country – with Orrick acting for the bondholders.

04 January 2024

China Aoyuan says $6.25 billion restructuring could be “thwarted” without US protection

Struggling Chinese real estate developer China Aoyuan Group has sought recognition in New York of a pair of Hong Kong schemes of arrangement that have been listed for sanction hearings next week.

03 January 2024

Chinese developers Zhenro and CIFI reveal proposed offshore debt restructurings

Property developer Zhenro has published the terms of a restructuring support agreement that it plans to implement through either a Hong Kong or Cayman scheme or both, while CIFI Holdings has revealed a “holistic” restructuring plan that aims to slash its US$7 billion offshore debt in half.

03 January 2024

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