Regional news: Latin America & Caribbean

Luckin Coffee JPLs: “Trust and transparency was key”

Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.

19 May 2022

Liquidators of BVI funds linked to 1MDB win recognition in Florida

The joint liquidators of three 1MDB-linked British Virgin Islands funds have secured recognition of their appointments in Miami, pledging to obtain discovery in the US to help with their recovery efforts.

18 May 2022

Fraud allegations lead to Ch11 filing for global software group

A global software group with operations around the world has sought Chapter 11 protection in New York, blaming its former management for misstating revenues in 2018 and 2019.

18 May 2022

Chinese liquor group wound up in Cayman Islands

Conyers has come off record as counsel for Chinese liquor distributor Silver Base Group on the same day that a Cayman court wound it up, finding its joint provisional liquidators’ latest report “does not make good reading” for the company.

16 May 2022

Chinese coal group wound up in Hong Kong despite Bermudian liquidation

The High Court in Hong Kong has issued a winding up order against a Chinese coal group that is already being wound up in Bermuda, finding no reason why liquidators cannot harmonise the processes.

13 May 2022

Stoneway wins Ch11 confirmation as US Trustee objection overruled

Argentina-headquartered power plant group Stoneway Capital has won confirmation of its Chapter 11 plan after a New York court overruled an objection lodged by the US Trustee over third-party releases.

12 May 2022

Latham & Watkins, Walkers submit Cayman petition to wind up Chinese football broadcaster

A UK-based sports media marketing company has filed a winding up petition against a Cayman subsidiary of Chinese sports investment platform Suning Group, following a payment dispute over football broadcasting agreements that deprived Chinese viewers of access to FA Cup and Italian Serie A games for several months last year.

09 May 2022

Linklaters and A&M advise as Golden Wheel completes Cayman restructuring

Chinese property developer Golden Wheel Tiandi has completed a restructuring of three Singapore-listed US dollar bonds using a Cayman scheme of arrangement.

04 May 2022

Cayman court rules on when a beneficial owner can pursue winding up

A Cayman court has issued its reasons for permitting the 1MDB-linked beneficial owner of shares in a local investment vehicle, to convert the vehicle's voluntary liquidation into a court-supervised winding up, where proceedings to vindicate share rights can normally only be brought by a registered shareholder under Cayman law.

03 May 2022

Skadden advising as E-House proceeds with Cayman restructuring

A week after Chinese real estate service provider E-House (China) Enterprise defaulted on a US dollar bond worth almost US$300 million, a majority of its noteholders have signed up to support a restructuring using a Cayman scheme.

26 April 2022

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