Regional news: Latin America & Caribbean

Oilfield company engineers pre-pack in Texas

Panama-incorporated engineering giant McDermott International has filed pre-packaged Chapter 11 proceedings in Texas, with a plan it says will eliminate over US$4.6 billion of debt.

22 January 2020

Doncasters Group seeks recognition in Delaware

Three days after the High Court in London convened a pair of scheme meetings for its first- and second-lien lenders, Dubai-owned alloy manufacturer Doncasters Group has filed Chapter 15 proceedings in Delaware.

21 January 2020

Cayman fund seeks protection in New York amid SEC complaint

A Cayman Islands fund is seeking US recognition of its Cayman liquidation, as the US Securities and Exchange Commission investigates allegations that its investment adviser orchestrated a “wide-ranging fraudulent scheme”.

20 January 2020

Gold miner files for bankruptcy in Canada as Armenia arbitration looms

A Jersey-registered gold miner has filed for bankruptcy protection in Canada as it weighs up an investment treaty arbitration against the Armenian government.

06 January 2020

Hong Kong court strikes out part of China Medical fraud claim

A Hong Kong court has struck out part of a fraud claim brought by the liquidators of Cayman-incorporated China Medical Technologies against one of the company’s former directors.

02 January 2020

Bondholders reach lock-up agreement over Tchenguiz sheltered housing rents

Senior bondholders in a Cayman-registered issuer have agreed a US$482 million restructuring with Lloyds and UBS for a deal securitising ground rents from a Tchenguiz-owned portfolio of sheltered housing properties.

18 December 2019

Pooled BVI liquidations seek US recognition

The liquidators of three British Virgin Islands companies tied up in an alleged US$200 million fraud conducted by a former mayor of São Paulo have filed for US recognition, days after a local court authorised the pooling of their liquidations.

12 December 2019

Cayman Islands

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12 December 2019

BVI court issues first judgment on pooling liquidations

The estates of three companies tied up in a “substantial fraud” allegedly carried out by São Paulo’s former mayor can be pooled, a British Virgin Islands court has ruled, in the first published judgment of its kind.

10 December 2019

RCom subsidiary's plan confirmed in Delaware

A subsidiary of bankrupt Indian mobile network Reliance Communications has won court approval of its debt restructuring plan in Delaware.

09 December 2019

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