Regional news: Latin America & Caribbean

Ares sued for ‘rigged’ sale of LATAM’s aircraft

A global investment manager is being sued for the second time in three years for allegedly implementing a “sham foreclosure sale” of a bankrupt airline's aircraft.

12 September 2023

McDermott International to file parallel UK-Dutch restructurings with Ch15 in US

Three years since Houston-headquartered oil and gas engineering group McDermott International exited a pre-packaged Chapter 11, it has entered an agreement with creditors and bank lenders that will see its UK subsidiary launch an English restructuring plan and two Netherlands entities pursue WHOA proceedings.

11 September 2023

Singapore court approves priority status for liquidation funding creditors

A Hong Kong-based supplier and a Cayman Islands fund have secured an order in Singapore giving them priority over other creditors of an international commodities trader, after agreeing to finance the company’s liquidation.

11 September 2023

Crypto-focused partner joins Appleby in BVI

Appleby has hired a new partner from Ogier who has been providing counsel to the liquidators of multi-billion-dollar crypto hedge fund Three Arrows Capital in the British Virgin Islands.

11 September 2023

Failed SPAC seeks Cayman liquidation as New York litigation looms

The voluntary liquidators of a failed SPAC that is facing a class action in New York have asked a Cayman Islands court to appoint them as official liquidators and supervise the company’s winding up.

08 September 2023

Judge Carey to mediate in TV Azteca forum dispute

Former Delaware bankruptcy judge Kevin Carey has been appointed to act as mediator in a forum dispute between Mexican broadcaster TV Azteca and a group of its international creditors that are trying to place it into a Chapter 11 process.

07 September 2023

Samarco plan sanction ends years of "high-stakes" negotiations

Eight years since its fatal dam accident in the Brazilian state of Minas Gerais, a local court has approved a reorganisation plan for miner Samarco that was supported by a majority of its creditors and shareholders.

06 September 2023

Harneys recruits Forbes Hare partner in Cayman

Less than two years after joining Forbes Hare in the Cayman Islands, partner Ben Hobden has left the firm to join Harneys' restructuring, insolvency and litigation group.

06 September 2023

Mainstream and Ares settle Ch11 dispute in Texas

The Irish founder of a Chilean renewable energy group and its US lenders have tentatively settled a dispute over a Chapter 11 filing in Texas as part of an ownership battle that has led to litigation worldwide.

05 September 2023

New York judge to seek aid from China in Schahin unjust enrichment suit

A US judge has agreed to issue a letter of request to a Chinese court to help the Brazilian administrators of oil and gas group Schahin secure documents to support their unjust enrichment claims against a host of international banks.

01 September 2023

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